Development of LME Clear proves a test of mettle

A change of ownership and an evolving regulatory landscape have thrown up big challenges for the London Metal Exchange in its quest to clear its own trades. Trevor Spanner, the chief executive of LME Clear, speaks to Mark Pengelly about the project

Trevor Spanner - London Metal Exchange

When board members of the London Metal Exchange (LME) voted in favour of setting up a clearing house in December 2011, they might not have expected the effort to become quite so caught up with the exchange's £1.4 billion acquisition by Hong Kong Exchanges and Clearing (HKEx), or the imminent post-crisis overhaul of European financial rules. But the plan to move away from reliance on London-based central counterparty (CCP) LCH.Clearnet has become inextricably intertwined with both these

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