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LME ‘illogically and irrationally’ rejected other options before cancelling $4bn nickel trades, lawsuit claims
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The London Metal Exchange “illogically and irrationally” rejected other options before deciding to cancel $4bn in nickel trades last year, lawyers for two investment firms that were burned by the decision have claimed.
Elliott Management and Jane Street argued the London Metal Exchange's call to void billions in trades rather than explore other avenues that could have let trading continue was disproportionate on the second day of a court showdown with the exchange.
The firms'...
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