LME tear-up may have averted ‘multiple defaults’ – CEO

Decision to cancel nickel trades on March 8 forestalled ‘unprecedented’ margin call, argues exchange chief

lme-entrance

London Metal Exchange’s decision to tear up a morning of nickel trades on March 8 after prices surpassed $100,000 a tonne may have averted “multiple defaults”, the exchange’s chief executive officer said this morning.

Matthew Chamberlain defended the exchange’s decision to suspend the market and cancel trades, repeating a claim made in an earlier interview with Risk.net that the market was “disorderly”. Some LME clearing members have been critical of the decision, suggesting it exposes

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

If you already have an account, please sign in here.

Register

Want to know what’s included in our free registration? Click here

This address will be used to create your account

Calibrating interest rate curves for a new era

Dmitry Pugachevsky, director of research at Quantifi, explores why building an accurate and robust interest rate curve has considerable implications for a broad range of financial operations – from setting benchmark rates to managing risk – and hinges on…

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here