LME will go ahead with warehouse rules

Jan 02, 2014 | 03:38 PM | Claire Hack

Tags  London Metal Exchange, LME, warehousing policy, enforcement, Claire Hack

LONDON — The London Metal Exchange said it will apply changes to its warehousing agreement and approval policy after further consultation with shed owners.

The LME said two companies responded to the additional consultation, which closed Dec. 2, but added that the points raised were "covered by the LME’s existing proposals or seek to reopen matters which have already been covered by the consultation."

Specifically, concerns were raised over a new clause of the warehousing policy, numbered 9.3.4, which states that the LME has "rights of investigation and enforcement in circumstances where warehouses accumulate, or maintain previously accumulated, queues."....

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