London Metal Exchange (LME) won its appeal for costs against
Office of Fair Trading last week after the UK watchdog imposed
a prevention order on the exchange extending its electronic
trading hours in February, which was subsequently lifted in
Competition Appeals Tribunal (CAT) called OFT's
investigative process "superficial, flawed and ill-founded"
after the body placed an interim measures direction (IMD). The
investigation followed complaints made by metals and energy
broker Spectron that LME's plans to extend its Select trading
hours could threaten the broker's business.
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