Copying and distributing are prohibited without permission of the publisher
Email a friend
  • To include more than one recipient, please separate each email address with a semi-colon ';', to a maximum of 5

Jefferies Bache set to start LME floor trading

Keywords: Tags  Jefferies Bache, London Metal Exchange, LME, metals brokerage, Natixis Commodity Markets, Newedge Group, MF Global, INTL FCStone Mark Burton

LONDON — Jefferies Bache LLC on Sept. 5 will commence trading as a Category I member of the London Metal Exchange, the exchange said Wednesday.

The brokerage has been on a hiring spree in recent months, taking on senior staff from Newedge Group SA, Paris, and certain members of the floor team at Natixis Commodity Markets Ltd., London, which was disbanded at the end of July as Paris-based parent bank Natexis SA continued its strategic exit from the commodities brokerage business.

Jefferies Bache was said to have been in negotiations to acquire the floor team of New York-based MF Global Holdings Ltd. after it entered administration in October last year, but eventually lost out to New York-based INTL FCStone Inc., AMM sister publication Metal Bulletin was told. INTL FCStone took over MF Global’s seat on the LME’s floor the following month.

Have your say
  • All comments are subject to editorial review.
    All fields are compulsory.

Latest Pricing Trends