LME's Garry Jones talks to FOW about the exchange's decision to keep its ring venue open after 2015
The chief executive of the London Metal
Exchange (LME) has told FOW the decision to retain its historic
open-outcry trading venue was to make it attractive for
regulators in the face of demands for full transparency.
At the LME week dinner last year Garry
Jones, CEO of LME, unnerved some ring-dealer members by saying
they were reviewing their ring business and by highlighting how
some exchanges have revolutionised by closing down their
When the LME was acquired by Hong Kong
Exchanges and Clearing (HKEx) in December 2012, the firm
committed to preserving the ring until at least 2015. Since
then market speculation has suggested HKEx would seek to close
the pit after that date.
This article is available to subscribers and registered users
Please log in to continue reading.
Not yet registered? Take a free trial.
If you have already taken a free trial you
have ongoing access to the analysis section of FOW.com including this story.
Log in using your details below to read.
Already have an account? |