Does this mean that one company does not support ring trading? And could one of the exchange’s members be preparing to leave the trading floor?
The exchange revealed on Monday August 9 that it had majority support for the ring
, in a statement accompanying the results of a consultation into a proposed split-pricing structure
for exchange prices.
The consultation was launched in June following the results of a discussion paper process on the LME’s market structure, which included the decision to determine closing prices electronically on a permanent basis.
Of course, the absence of one Category 1 member from the process could be down to consultation fatigue, which appears to be a common theme. The last discussion paper had 192 responses, this one just 12 responses. It...