Plastics ring dealing to cease at the LME
The London Metal Exchange (LME) has announced proposals to cease open-outcry trading of its plastics futures contracts, with trade continuing on the LME's electronic and telephone markets.
The proposal states that the contracts for linear low density polyethylene and polypropylene should cease trading in the ring in February 2010. Martin Abbott, chief executive of the LME says plastics trading on the exchange has so far been concentrated on the exchange's electronic platform LMESelect and the telephone markets. "The decision to focus liquidity in these trading venues is a reflection of the way in which the industry trades," he said in a statement.
The proposals are currently being
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