Bank of England has approved LME plan to use metals warrants as collateral
The London Metal Exchange’s
clearing house LME Clear is working to increase membership for
its recently-launched renminbi for cash collateral initiative,
and has around half a dozen organisations in the pipeline to
sign up to the service.
The clearing house added the renminbi as its fifth currency for
cash collateral in July, joining the US dollar, sterling,
euro and yen as the first currency added since the launch of LME Clear last year.
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