BOCI Global Commodities, the first Chinese member of the London
Metal Exchange, has chosen PRC as its mnemonic for use on the
exchange's electronic trading and matching systems, market
sources told Hotline last week.
The Bank of China unit's membership has been viewed as a
watershed moment for the exchange, and several other Chinese
banks including China Construction Bank are now expected to follow BOCI's lead
Those new entrants will want to fly the flag for the Chinese
market, but BOCI's mnemonic will be a permanent reminder that
it was the first of the People's Republic of China's banks to
land on the exchange.
Hotline's sources received the news in good humour and there
was some speculation that the move could spark a new taste for
flashy mnemonics on the LME. Three-letter suggestions