Exchange execs clash over LME nickel closure

Ice’s Williams says circuit breakers could have averted shutdown, but LME’s Combe defends ‘tough decision’


Ice Futures Europe president Stuart Williams has hit out at the London Metal Exchange’s (LME) decision in March to close the nickel market and cancel trades following huge price swings, stating that such a move would create huge knock-on effects for market participants.

Speaking at the Futures Industry Association’s international derivatives expo in London today (June 7), Williams said that it is not up to the exchange or the clearing house to close a market because of price volatility.


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