LME bucks electronic trading trend

Trading

The London Metal Exchange (LME) will keep its open-outcry trading ring, bucking a trend by most other markets to shift to all-electronic operations.

The Telegraph reports that in the ring, a circle of padded red-leather seats, traders use arcane hand signals during five-minute bursts of intense trading in copper, aluminium, zinc, lead, nickel and zinc.

The LME, the world's oldest and biggest market for industrial metals, launched a review of whether to keep the ring following its takeover by Hong Kong Exchanges and Clearing in December 2012.

The 137-year-old LME, the only European financial market to still use open-outcry trading, also said in a statement it would invest £1m in technology for the ring.

To access the complete Daily Telegraph article hit the link below:

London Metal Exchange decides to keep open-cry trading ring 

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