The financial The censor and the bank of England launched an investigation into the comment of nickel trading From the London Metal Exchange (LME) last Month.
The exchange suspended trading of nickel from Tuesday, March 8 after Russia invasion of produced by Ukraine in great volatility, with Prices double for more From $100,000 each ton within an hour.
merchants also express his frustration over iceberg of Technical glitches after trading resumed on Wednesday 16 March.
The Financial Conduct Authority (FCA) has now said that plans for “review The LME Approach to Managing Suspension and Appeal of nickel market.
the bank of England said it would take action review In clearing LME house During the period ‘to determine if any lessons can be learned in Regarding its management and risk Administration.”
The two organizations said in a joint statement that the chaos that occurred highlighted questions about the transparency of the stock exchange.
Center bank The Financial Conduct Authority (FCA) said it will determine whether the action should be taken as result.
“Events about suspension and appeal of trading He confirmed the questions asked in Recent LME Discussion Paper on market structure, in particular role of Transparency in London Metal Exchange and Related Markets added.
“It was FCA in discussion with LME on her suggestions for some time and expect to consider LME carefully how Last events should shape it’s a future approach on market structure.”
In a statement, LME Group said it “welcomes” announcement by the organizers.
In addition, LME Group will commission an independent body review of On a larger scale events in nickel market leading up To comment to determine any actions that can be taken to reduce risk of disturbance market emerging in future,” He. She added.
