Quest for cheaper metals trading driving move to start LME rival
Brokers on exchange are concerned there is a disconnect between markets and users
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London
IN the face of sliding volumes and tougher regulation, the London Metal Exchange (LME) may be getting a new challenge: more competition.
Martin Abbott, who orchestrated the LME's sale to Hong Kong Exchanges & Clearing Ltd, is now leading a group of brokers to study alternatives to the exchange. Brokers on the exchange are concerned that trading has become too expensive and there is a "disconnect" between metal markets and users, Mr Abbott said.
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