LME launches reporting of OTC positions after nickel chaos

Published by
Reuters UK

By Pratima Desai LONDON (Reuters) -The London Metal Exchange (LME) approved rules on Friday for members to report all over the counter (OTC) positions, a move taken after off-exchange trading was partly blamed for a wild spike in nickel prices in March. “This … will improve the ability of the LME to oversee activity holistically through increased visibility, ensuring future market stability,” the exchange said in a statement. The exchange, owned by Hong Kong Exchanges and Clearing Ltd, was forced to suspend nickel trading and cancel all deals on March 8 because of disorderly activity caused …

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