Home Business NewsBusiness FCA opens probe into LME nickel debacle

FCA opens probe into LME nickel debacle

by LLB Editor
3rd Mar 23 9:29 am

UK regulator The Financial Conduct Authority has opened an enforcement investigation into the London Stock Exchange’s (LME) suspension of nickel trading in March 2022.

“The FCA has confirmed an investigation in light of the public interest in these matters and will not make any further comment in line with normal policy,” the regulator said.

On 8 March last year, the London Metal Exchange (the LME) was forced to suspend nickel trading and cancel trades after prices doubled to more than $100,000 per tonne.

“Since the suspension the FCA has made clear its expectation that the LME should consider carefully how the events of March 2022 should shape its future approach on market structure, including the role of transparency in facilitating effective risk management,” the FCA added.


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