“Total disarray” at the LME leads to FCA fine

Systems and controls in place at the exchange were not adequate to deal with severe market stress.

The London Metal Exchange has been fined £9.2m ($11.91m) after a widely-publicised incident in March 2022 led to an eight-day suspension of the nickel market and the cancellation of all trades that took place on March 8, 2022.

The fine has been imposed for a failure to ensure the implementation of adequate systems

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