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LME CEO Hopes Ring-Dealers Will Adapt to Hybrid Pricing System

June 14, 2021, 3:49 PM

The head of the London Metal Exchange is hopeful brokers will be able to adapt to a new part-electronic pricing system when they return to the open-outcry trading floor.

The LME last week reversed course on a proposal to close its trading floor and said it will reopen in September, in a victory for floor traders and physical users who’ve been lobbying hard to save it. But the iconic Ring trading floor will only be used to set so-called official prices -- which are widely used in the physical industry and are established around lunchtime -- while evening closing prices ...

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