A court has ruled in favour of the London Metal Exchange after a legal case was brought against it for suspending the nickel market in March 2022.
Cases from Elliott Investment Management and Jane Street were both dismissed yesterday (29 November), after the judges said the exchange's executives should be granted wide discretion to make the urgent decisions they did. Deep Dive: 'Little reason' to expect disruption to precious metals rally On 8 March last year, LME suspended nickel trading after prices doubled to more than $100,000 per tonne, and retroactively cancelled $12bn of trades from the previous day. Nickel trading resumed on LME on 16 March, but the move marked the biggest crisis to hit the exchange in decades. The...
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