Systems and controls in place at the exchange were not adequate to deal with severe market stress.
London Metal Exchange
Next steps for firms, including preparing to take advantage of the new exemptions and submitting required applications to relevant trading venues.
When the price of nickel suddenly surged 250% in 24 hours in March, the LME faced a dilemma – suspend trading and cancel trades or face the potential failure of the exchange. The fallout from its decision rumbles on.