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“Total disarray” at the LME leads to FCA fine

General view of the London financial district skyline at night from the River Thames.
Photo: AaronP/Bauer-Griffin/GC Images/Getty Images

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