LME Financial News

06.01 / 17:19

Citi LME exits Trading Places: More exits at Credit Suisse, LME chair steps down, StanChart bolsters crypto arm

The new year has seen a raft of new jobs for City leaders.

07.10 / 15:49

LME LME mulls Russian metal ban over worry exchange may become ‘market of last resort’ for Muscovite firms

The London Metal Exchange has put out a discussion paper on the possibility of banning aluminum, nickel and copper sourced from Russia from being traded or stored within the LME system.

16.09 / 19:11

FIVE Action LME LME faces legal action from AQR, Capstone over $4bn in wiped nickel trades

The London Metal Exchange is facing fresh legal action from five trading firms including AQR Capital and Capstone Investment over its handling of the March nickel crisis.

18.07 / 02:05

Matthews LME LME boss says he has a plan to win back trust after wiping $4bn in nickel trades

The London Metal Exchange has had a disastrous year.

14.07 / 15:59

LME LME says it had ‘specialist’ judgment to wipe $4bn in trades in Elliot and Jane Street suit

The London Metal Exchange asked a High Court judge to respect its “specialist” judgment and refuse payment of $456m and $15.3m, respectively, sought by activist hedge fund Elliott Management and market maker Jane Street over cancelled nickel trades in early March.

29.06 / 10:29

JPMorgan LME JPMorgan leaves the LME nickel crisis behind

US investment bank JPMorgan no longer has exposure to nickel.

23.06 / 20:57

LME LME appoints Oliver Wyman to oversee nickel crisis post-mortem

The London Metal Exchange has selected Oliver Wyman to head the exchange’s independent review of its handling of the nickel crisis that saw the exchange wipe some $4bn in trades.

18.06 / 15:21

reports LME LME mandates reports of OTC contracts after nickel blindside raised transparency issues

The London Metal Exchange has published its decision that it will go through with proposed over-the-counter contract reporting requirements as the exchange seeks to restore accountability and confidence.

17.06 / 17:13

reports LME Weekly LME mandates weekly reports of OTC contracts

10.06 / 11:53

UPS Platform lawsuits LME Britannia Global Markets to pull LME membership as nickel trading lawsuits pile up

London based derivatives broker Britannia Global Markets said it will end its 'Category 2' membership at the London Metal Exchange after a strategic review.

09.06 / 14:59

Platform LME Britannia Global Markets to pull LME membership over nickel crisis

London based derivatives broker Britannia Global Markets said it will end its 'Category 2' membership at the London Metal Exchange after a strategic review.

08.06 / 15:55

LME Hedge fund group files complaint against LME for ‘failure’ during nickel chaos

A formal complaint has been made by the Managed Fund Association against the London Metal Exchange over its cancellation of nearly $4bn in nickel trades on 8 March.

07.06 / 16:13

Matthews LME LME boss defends cancelling nickel trades to stop ‘multiple defaults’

Metal traders would have been hit with "multiple defaults" had the London Metal Exchange not cancelled trades on 8 March, the exchange's chief executive Matthew Chamberlain said.

07.06 / 11:29

LME Elliott and Jane Street fire starting gun on LME legal battles over $4bn in wiped trades: ‘There are bound to be others’

Hedge fund Elliott Management’s lawsuit against the London Metal Exchange for cancelling some $4bn in nickel trades back in March is likely to kick off a flurry of other suits.

07.06 / 09:33

LME Jane Street sues LME over nickel trade chaos

Two major financial players are now suing the London Metal Exchange for a total of nearly half a billion dollars, after the exchange earlier this year suspended nickel trading and canceled some trades following wild swings in the metal's price.

07.06 / 02:05

LME Elliott fires starting gun on LME legal battles over $4bn in wiped trades: ‘There are bound to be others’

Hedge fund Elliott Management's lawsuit against the London Metal Exchange for cancelling some $4bn in nickel trades back in March is likely to kick off a flurry of other suits.

27.05 / 00:23

Career Platform LME Hedge fund boss Ken Griffin says LME was ‘incomprehensibly wrong’ to wipe $4bn in nickel trades

Kenneth Griffin, chief executive and founder of hedge fund Citadel, is the latest finance giant to criticise the London Metal Exchange after a March spike in nickel prices led the trading platform to cancel almost $4bn in trades.

25.05 / 02:05

Career Platform LME Hedge fund boss Ken Griffin says LME was ‘incomprehensibly wrong’ to wipe $4bn in nickel trades

20.05 / 15:37

reform LME Regulator sounds alarm on commodity markets as LME outlines reform

Another regulator said volatile commodities markets were a cause for concern, as bearish sentiment becomes more entrenched in the financial system.

20.05 / 02:11

reform LME Regulator sounds alarm on commodity markets as LME outlines reform

Another regulator said volatile commodities markets were a cause for concern, as bearish sentiment becomes more entrenched in the financial system.

29.04 / 01:59

Citi LME LME nickel debacle a sign commodities are next market stability risk, watchdog warns

In 2008, it was sub-prime mortgages. In March of 2020 it was money-market funds. And now, regulators fear, a crisis is brewing in commodity markets.

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