LMEselect crash leaves brokers reliant on ring, Comex

Sep 24, 2013 | 12:52 PM | Mark Burton

Tags  London Metal Exchange, LME, Hong Kong Exchanges & Clearing, HKEx, LMEselect, electronic trading halt, system crash, Comex

LONDON — London Metal Exchange brokers were approximating three-month copper prices from live quotes posted on Comex during a three-hour outage on LMEselect Sept. 24.

The LME’s electronic trading system experienced a "controlled halt" as a result of technical issues Tuesday, a spokeswoman for Hong Kong Exchanges & Clearing Ltd. said in a statement.

While the spokeswoman said the exchange was communicating with market participants throughout the incident, brokers and traders criticized it for not keeping members more fully briefed on the situation.....





Latest Pricing Trends

Poll

Is severe weather affecting your business?

Yes
No


View previous results

AMM Events