Reuters (April 20)
“A month after the London Metal Exchange (LME) suspended nickel transactions and cancelled trades amid an epic short squeeze, the Bank of England, the Financial Conduct Authority and the LME itself have launched reviews into what went wrong. They will need to substantially strengthen the world’s premier metal trading venue if it is to survive likely future turbulence.”
Tags: BOE, Cancelled, Financial Conduct Authority, LME, Metal, Nickel, Reviews, Short squeeze, Suspended, Trades, Transactions, Turbulence
Bloomberg (February 26)
CME Group Inc. (CME) no longer owns the world’s most valuable exchange. “Hong Kong Exchanges & Clearing Ltd. overtook CME as the world’s largest exchange operator by market value in December as the Chinese company completed its $2.2 billion takeover of the London Metal Exchange. The Hong Kong bourse is the largest in the industry with a capitalization of $20.8 billion.” That could change, however, as CME has been putting out feelers about acquiring Deutsche Boerse. Any proposal would likely face stiff anti-trust and political opposition.
