COLUMN- LME open-outcry trading holds off electronic challenge: Andy Home [Reuters]
HONG KONG EX&CL UNSP/ADR (HKXCY)
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Source: Reuters
COLUMN- LME open-outcry trading holds off electronic challenge: Andy Home (The opinions expressed here are those of the author, a columnist for Reuters.) By Andy Home LONDON, Aug 15 (Reuters) - The London Metal Exchange (LME) is now the only open-outcry market in Europe and one of the last in the world. The London Stock Exchange closed its trading floor as long ago as 1986. The London International Financial Futures Exchange permanently shut the last of its pits in 2000, taking with it the bright-jacketed traders that enlivened the grey Cityscape. The electronic tide has since swept all before it, leaving the LME one of the last human hold-outs with its ring of red leather seats, baffling hand signals and old-school etiquette. The LME’s nine ring-dealing members were therefore understandably nervous about the exchange’s intention in mid-March to trial an electronic close for the last of the ring sessions. The results of the three-month experiment, however, generated no compelling evid
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