Finance Breaking news LME plans to close iconic 'Ring' trading floor last financial news

Breaking-Finance.Com - After a 144-year run, the London Metal Exchange (LME) open outcry trading ring looks set to permanently shut after a Covid-19-inspired temporary closure demonstrated the benefits of electronic pricing.

Finance Breaking news LME plans to close iconic 'Ring' trading floor last financial news

Breaking-Finance.Com - After a 144-year run, the London Metal Exchange (LME) open outcry trading ring looks set to permanently shut after a Covid-19-inspired temporary closure demonstrated the benefits of electronic pricing.

Finance Breaking news LME plans to close iconic 'Ring' trading floor last financial news
19 January 2021 - 15:45

Breaking-Finance.Com - After a 144-year run, the London Metal Exchange (LME) open outcry trading ring looks set to permanently shut after a Covid-19-inspired temporary closure demonstrated the benefits of electronic pricing. In a discussion paper, the exchange says it believes it is the right time to consider the permanent closure of the Ring and a move to an electronic pricing structure.The Ring - the last open outcry trading venue in Europe - has been closed since the first UK Covid-19 lockdown in March when the LME switched to an electronic system for establishing pricing for metals such as copper, zinc and aluminium.

."The LME, which is owned by Hong Kong Exchanges and Clearing, has seen competition from the likes of CME Group and the Shanghai Futures Exchange increase in recent years. Says Chamberlain: "Given the data, and our industry’s continued move towards digitisation and greater transparency, we believe it is now time to consider the long-term future of pricing at the LME - with the intention of providing certainty, which will allow all customers to make their future business decisions with confidence.”

Source = Breaking-Finance.Com

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Finance Breaking news LME plans to close iconic 'Ring' trading floor last financial news


Finance Breaking news LME plans to close iconic 'Ring' trading floor last financial news


Finance Breaking news LME plans to close iconic 'Ring' trading floor last financial news


Finance Breaking news LME plans to close iconic 'Ring' trading floor last financial news

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