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LME

Set up in 1877 to provide a venue for trade conducted among metal merchants in London, the LME was sold in 2012 to the operator of the Hong Kong stock exchange. In 2013, it was a defendant in lawsuits accusing Goldman Sachs, JP Morgan and Glencore-Xstrata of rigging the aluminium market.

last updated:

26 August, 2024

LME

Exclusive | Hong Kong’s potential as commodities hub draws expansion by Marex Group

The establishment of London Metal Exchange warehouses in Hong Kong will be a key enabler, Marex CEO says.

Opinion | A HKEX shift into data and connectivity could put Hong Kong on top again

LME eyes Hong Kong for warehouse to tap China’s growing metals trade with world

HKEX-owned LME targets Hong Kong as option for warehouse expansion: sources

The LME is studying Hong Kong as a location to expand its global metal warehouse network, five sources said, hopeful success in the city might open the door to mainland China, its ultimate target.

LME plans new metals contracts using Shanghai Futures Exchange prices: sources

The London Metal Exchange is planning to launch new metals contracts using prices from the Shanghai Futures Exchange, three sources said, further increasing China’s influence on global metals markets.

HKEX, LME relish ‘incredible opportunities’ after winning nickel lawsuit

The London Metal Exchange and its parent, Hong Kong Exchanges and Clearing (HKEX), are ready to move forward and reboot investor confidence after winning a legal battle against American financial firms over cancelled nickel trades last year.

In nickel traders vs LME, lawyers spar over US$12 billion in cancelled trades

Judicial review of London Metal Exchange’s decision to cancel trades in March 2022 has potential to dramatically reshape how bourses respond to extraordinary market events in the future.

LME faced ‘death spiral’ had it failed to act during nickel chaos: lawyer

The London Metal Exchange was forced to step in to stabilise the nickel market in March 2022 as chaos in the market put several members at risk of default and would have depleted the bourse’s fund to close out defaulted members’ positions, the bourse’s lawyer said.

LME lacked senior staff monitoring trading as nickel prices spiked: Jane Street

HKEX-owned bourse made ‘irrational’ decision to cancel trades amid nickel market chaos on March 8, 2022, Jane Street lawyer said.

LME had options to avoid cancelling trades during nickel crisis, funds say

A judicial review in London is considering claims by Elliott Associates and Jane Street Global Trading that they were disenfranchised by LME’s response to chaos in the nickel market.

LME set to defend itself in 3-day trial in London over nickel chaos

The HKEX-owned bourse faces lawsuits from US hedge fund Elliott Associates and quantitative investing firm Jane Street Global Trading over its decision to suspend trading and cancel nickel trades in March 2022.

LME makes progress in reviving investor confidence after nickel fiasco: CEO

The 146-year-old metal trading bourse is doing something every day to earn investors’ trust, CEO Matthew Chamberlain says. This includes a two-year action plan to revive its markets.

LME works with Chinese counterpart to launch EV battery metal contracts

The bourses, both owned by Hong Kong Exchanges and Clearing, are together studying the possibility of offering investors the chance to buy and sell contracts of lithium carbonate, nickel sulphate and cobalt, said Dong Feng, general manager of the QME.

LME to overhaul margins, introduce new nickel contract in market revamp

With its new “action plan”, the Hong Kong Exchanges and Clearing-owned bourse is seeking to rebuild investor confidence a year after chaos in nickel market.

Can HKEX-owned LME rebuild its reputation a year after nickel chaos?

The fallout from chaos in the nickel market last March has hurt volumes at the Hong Kong Exchanges and Clearing-owned London Metal Exchange and emboldened potential competitors as the bourse prepares to relaunch trading during Asian business hours.

Hedge funds sue London Metal Exchange for US$96 million over nickel rout

A group of hedge funds and traders are seeking about £80 million (US$96.2 million) from the London Metal Exchange and LME Clear for alleged losses tied to cancelled nickel contracts in March 2022.

British financial watchdog opens enforcement inquiry into LME nickel chaos

The Financial Conduct Authority will investigate the London Metal Exchange’s conduct and controls after last year’s temporary suspension of nickel trading.

HKEX-owned LME should tighten rules to prevent further market distortions: review

The 146-year-old bourse said it was ‘committed to taking all the necessary steps’ to rebuild public confidence in its metals market, and would unveil an implementation plan in response to recommendations by consultant Oliver Wyman by the end of the first quarter.

Copper sell-off deepens to 20-month low on global recession fears

The decline comes amid ongoing concerns that China won’t recover quickly from Covid-related shutdowns and cascading US inflation threatens a recession in the world’s largest economy.

Hong Kong to benefit from China’s commodities demand in post-Covid era

China’s 2060 carbon neutrality goal and urbanisation will be key drivers of demand for commodities globally in the post coronavirus pandemic era, creating huge opportunities for Hong Kong, according to Nicolas Aguzin, CEO of bourse operator Hong Kong Exchanges and Clearing.

LME hires Oliver Wyman to review nickel trading chaos amid lawsuits

Oliver Wyamn’s review will run until December and examine issues that forced the London bourse to suspend nickel trading and cancel completed trades in March.

LME to require weekly OTC position reporting as it seeks to address nickel chaos

LME CEO Matthew Chamberlain has said the lack of transparency in OTC positions made it difficult to manage the chaotic situation in the nickel market.

HKEX eyed ‘super-connector’ gold with LME deal. What went wrong?

Hong Kong Exchanges and Clearing acquired the 145-year old London Metal Exchange in 2012, extending its role as a ‘super-connector’ by linking China’s commodity markets with the world. It has not gone according to the script.

Hedge fund group files complaint against LME over nickel trading chaos

Managed Funds Association, a trade body representing some of the world’s biggest hedge funds, claims LME failed to properly carry out its regulatory obligations by cancelling nickel trades in early March.

LME in court again, faces US$15.3 million suit over nickel trades cancellation

LME faces second lawsuit in the UK court from trading firm Jane Street Global, over its controversial decision to cancel nickel trades in March.

LME faces US$456 million suit for halting nickel trading, cancelled trades

The London Metals Exchange has been sued by two affiliates of American hedge fund Elliott Management for its suspension of nickel futures trading.

LME seeks to require OTC position reporting after March nickel chaos

New over-the-counter reporting requirement is part of LME’s expected reforms to address conditions that led to a weeklong suspension of nickel trading in March.

LME CEO to stay as bourse recovers from nickel chaos

Matthew Chamberlain will stay as London Metal Exchange CEO, backtracking on plans to leave in May as the 145-year-old bourse faces a challenging period following a weeklong suspension of nickel trading in March.