The UK’s Telegraph recently got an inside view of the London Metal Exchange.
The LME, the market for more than 80% of global non-ferrous business, recently welcomed a new CEO, Garry Jones.
As the Telegraph reports, Jones has big plans for the world’s oldest and biggest metals marketplace.
These include more options trading, smarter technology and a clearing house.
The trading floor still operates under an “open outcry trading system”—a method Jones says is the most transparent.
In 2012, Hong Kong Exchanges and Clearing bought the bourse for £1.4 billion. Jones says HKEx is committed to keeping it open until at least 2015.
But the LME has earned some bad publicity lately. Multiple lawsuits have been mounted against the trading giant over its metal storage practices.
Reprinted by permission of Mining.com