London Metal Exchange
TOPIC
 / company

London Metal Exchange

London Metal Exchange
London Metal Exchange
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.
Chairman / President
John Williamson
CEO / Managing Director
Matthew Chamberlain
CFO / Finance Director
Tabitha Silverwood
Industry
Financial Services
Website
lme.com
Headquarters address
10 Finsbury Square, London EC2A 1AJ, United Kingdom
Year founded
1877
last updated:
30 September, 2024
A collection of 100-gram gold bars sits on a table. Photo: DPA
Banking & finance

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.

Hong Kong economy

Editorial | Speed of essence in Hong Kong push to be gold, commodities hub

Opinion | LME should strike while the iron is hot

LME

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

The bourse owned by HKEX is exploring the idea of adding a warehouse in Hong Kong to its global network to meet rising demand for the physical exchange of metals such as aluminium and zinc between mainland China and the rest of the world, according to its CEO.

An employee checks aluminium for export at Qingdao Port, Shandong province. The LME is exploring the idea of setting up a warehouse in Hong Kong to meet rising demand for the physical exchange of metals such as aluminium and zinc between mainland China and the rest of the world. Photo: Reuters
Commodities

New metals sanctions push Russia further into China’s embrace

Energy market sanctions imposed on Moscow have already had a dramatic impact on China’s buying habits, helping Russia surpass Saudi Arabia to become the largest oil supplier to Beijing last year.

8
Commodities

China slump turns Fortescue from world-beating mining stock to big loser

Earnings at the world’s fourth-largest iron ore miner is forecast to fall by 14 per cent over the next year, the worst pullback compared with peers BHP, Rio Tinto and Vale, according to analyst estimates.

Advertisement
Advertisement
LME

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.

videocam
The HKEX bought the London Metal Exchange in 2012 for US$2.2 billion. Photo: Shutterstock
LME

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.

LME

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.

videocam
Central banks

China demand hopes drive copper prices to 2-month peak

Hopes for stronger copper consumption were raised by a pledge from China’s central bank to ensure financing support for the property sector, a major consumer of industrial metals.

An employee manufactures copper wires at the workshop of Tongling Nonferrous Metals Group Holdings in Tongling, Anhui Province, China on November 13. Photo: VCG via Getty Images
HKEX

With 31-degree weather and a Hong Kong taxi, HKEX opens new office in London

London is the latest international office opened by Hong Kong Exchanges and Clearing (HKEX) as it seeks to expand its global footprint.

videocam
Nicolas Aguzin, Hong Exchanges and Clearing (HKEX) CEO, left, and Kevin Rideout, HKEX’s co-head of sales and marketing, ring a ceremonial gong to celebrate the opening of the bourse operator’s new office in London on September 6, 2023. Photo: Chad Bray
Banking & finance

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.

Banking & finance

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.

Banking & finance

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.

Traders, brokers and clerks on the trading floor of the open outcry pit at the London Metal Exchange in February 2022. Photo: Bloomberg
Banking & finance

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.

Traders, brokers and clerks operate on the trading floor of the open outcry pit at the London Metal Exchange in February 2022. Photo: Bloomberg
Banking & finance

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.

HKEX

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.

Advertisement
Advertisement
HKEX

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.

videocam
A worker checking lithium car batteries at a factory for in Nanjing in China’s eastern Jiangsu province. Photo: AFP
Banking & finance

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.

videocam
Commodities

JPMorgan’s mystery rocks: the hunt for clues begins with a kick

For the LME, the warehouse issue represents yet another headache as it wades through the fallout of its last nickel crisis a year ago.

Banking & finance

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.

videocam
Illustration by Henry Wong
Banking & finance

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.

videocam
Traders, brokers and clerks on the trading floor of the open outcry pit at the London Metal Exchange in London in February 2022. Photo: Bloomberg
HKEX

HKEX readies London office in bid to secure more international listings

Hong Kong Exchanges and Clearing, the city’s stock-exchange operator, will open an office in London in the first half of this year to attract international listings and more overseas investors.

videocam
Banking & finance

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.

videocam
Commodities

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.

Large copper coils are cut into lengths to start the process of manufacturing a bullet at Barnes Bullets in Mona, Utah, January 6, 2016. Photo: Reuters
LME

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.

A file photo of the trading floor of London Metal Exchange from September 2018. The exchange has faced criticism for its decision to cancel transactions after it halted nickel trading amid significant price volatility in March. Photo: Reuters
LME

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.

Banking & finance

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.

videocam
Advertisement
Advertisement
Help preserve 120 years of quality journalism.
SUPPORT NOW
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement