Ex-London Metal Exchange chief considering setting up a rival platform

Mind The Gap

The former chief executive of the London Metal Exchange, which was bought by rival Hong Kong Exchanges and Clearing four years ago, is considering setting-up a competing trading platform.

The Daily Telegraph reports that Martin Abbott, who left the LME in 2013, a year after the world’s largest metals bourse was taken over, told Reuters that he was holding with brokers and trading firm about establishing a rival, London-based exchange.

“There are a number of different options which are mentioned, some people talk about an OTC (over the counter) platform, others talk about a (full-blown) exchange and it's really very early days,” he reportedly said.

Abbott said a study group was being established to examine the idea in more detail, and that discussions with brokers had been going on for months.

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

Former LME chief considers rival metals exchange

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