World’s largest metal exchange hit with £9.2mn penalty for failing to ensure orderly trading
Futures price in London for the red metal climbed to a 5-month high
US’s IRA programme yet to have ‘significant impact’, says Jakob Stausholm as he opens London Metal Exchange week
French bank quits the Ring, Europe’s largest open outcry pit
Exchange says market not large enough for ‘green’ nickel futures contract
Judges dismiss claims against metal exchange by Elliott Management and Jane Street
Judicial review hears of exchange’s actions in March 2022 when it feared market had turned disorderly
US hedge fund seeks $456mn compensation in case that could have ramifications for London’s role as commodity trading hub
Chief executive Terry Duffy says UK group has ‘a lot of issues’
Jeremy Weir says sector needs ‘contracts to reflect the underlying business’
Discovery of fake consignment comes weeks after Trafigura unearthed $500mn nickel fraud
Metal exchange faces legal claims totalling more than $500mn over its controversial cancellation of trades
Financial Conduct Authority launches enforcement action against metals exchange over decision to freeze trades
World’s largest miner joins criticism of contract at the centre of last year’s market chaos
A report attempts to explain what happened in a spectacular short squeeze last March
Independent report criticises exchange for lack of circuit breakers in March nickel crisis
Hedge fund AQR and other market participants were seeking more information on exchange’s decision to cancel trades
Metal pricing hit as thin volumes and higher financing costs force investors to sidelines
Fullest accounting to date of incident in March shows clearing house was under severe strain
Exchange’s defence against judicial review says level of margin calls would have bankrupted multiple clearing members
The LME had to suspend trading for a week, while inventory levels hit a 14-year low, adding to swings
Volumes have fallen sharply since a bout of severe market turbulence in March
Appeal by producers and traders concerned by distortion to market pricing fails to sway LME
Matthew Chamberlain defends exchange’s decision to cancel billions of dollars’ worth of trades in March
Users urge exchange to bar Russian commodities from warehouses
