Quest for cheaper metals trading driving move to start LME rival
Brokers on exchange are concerned there is a disconnect between markets and users
Wed, Jun 08, 2016 - 5:50 AM
LME aluminium ingots lined up for export at Qingdao Port in Shandong. During the first four months of the year, its futures trading fell a combined 10% for its six contracts, including copper and aluminium.
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...