LME to take ‘conservative’ decision on return of ring trading - CEO Chamberlain

The London Metal Exchange will not rush back into trading on the open outcry ring and is happy with the effectiveness of the current electronic pricing model, chief executive officer Matthew Chamberlain said.

“The LME will be adopting a very staged and cautious return to its office, given the effectiveness of our work at home practices,” Chamberlain said, speaking in video format on May 7 on the LME website.
“Also, we will be conservative in reopening the ring. We have been clear with our market that we will reopen the market when the time is safe to do so,” Chamberlain added.
The ring closed on Monday March 23 after the LME suspended all ring trading and moved to full electronic pricing following the UK moving into lockdown in a bid to stop the spread of the Covid-19 coronavirus (2019-nCoV).

“I know by talking to many of our category one members, they would not want us to put LME or member staff health at risk and given we have an effective pricing model electronically, we have the flexibility...

Published

Alice Mason

May 11, 2020

10:00 GMT

London