Britain’s financial regulator fined the London Metal Exchange on Thursday for allowing nickel prices to surge out of control three years ago in the first ever enforcement action against a UK exchange. The Financial Conduct Authority imposed a penalty of …
The London Metal Exchange (LME) won a legal battle with U.S. financial firms on Wednesday which brought a case demanding $472 million in compensation after the exchange canceled billions of dollars in nickel trades last year following a surge in …
Another trading house has been stung after buying a cargo supposedly containing nickel that turned out to be full of near-worthless rubble. The latest example, detailed in lawsuits in London and Singapore, is separate from the $600 million alleged fraud …
The London Metal Exchange failed to investigate a large nickel position held by China’s Tsingshan that sparked a chaotic surge in prices and billions of dollars of canceled trades, lawyers told a London court on Thursday, despite a previous incident …
The London Metal Exchange canceled $12 billion worth of trades when nickel prices went haywire in March 2022 to “save” China’s Tsingshan, lawyers for two financial firms suing the exchange told London’s High Court on Tuesday. U.S.-based hedge fund Elliott …
U.S. hedge fund Elliott Associates is suing the London Metal Exchange (LME) for $456 million for canceling nickel trades after chaotic trading in March that forced the exchange to suspend its nickel market, the LME said on Monday. The legal …
