London Metal Exchange Starts Sweeping Review
April 24 2017 - 12:24PM
Dow Jones News
By Sarah McFarlane
The London Metal Exchange launched a wide-ranging review on
Monday, seeking feedback from its users on its structure, after two
years of falling trading volumes.
The 140-year-old exchange's volumes fell after its owner Hong
Kong Exchanges & Clearing Ltd. (0388.HK) raised fees, causing
some users to shift their business off the exchange, preferring
over-the-counter trading.
Last year the average daily volume fell almost 8% compared with
2015, according to the exchange.
The review covers topics including fees, contract structures,
and new products.
It's the first move by new LME Chief Executive Matthew
Chamberlain since he was formally appointed on Friday, having
performed the role on an interim basis since January.
"This paper lays out the principles on which we plan to build
our business, and invites feedback from all stakeholders on the
routes by which we deliver that strategic vision," said Mr.
Chamberlain.
Write to Sarah McFarlane at sarah.mcfarlane@wsj.com
(END) Dow Jones Newswires
April 24, 2017 12:09 ET (16:09 GMT)
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