UPDATE 1-London Metal Exchange plans to ditch ring trading next week [Reuters (UK)]
HONG KONG EX&CL UNSP/ADR (HKXCY)
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Source: Reuters
UPDATE 1-London Metal Exchange plans to ditch ring trading next week - Reuters 2 Min Read (Adds details, quotes, background) LONDON, March 17 (Reuters) - The London Metal Exchange (LME) plans to stop open-outcry trading next week and shift to its electronic system after Britain imposed severe restrictions on social life to fight the coronavirus outbreak, it said on Tuesday. The 143-year-old LME said it expected to temporarily close the last open-outcry trading venue in Europe next Monday to safeguard traders. The exchange, owned by Hong Kong Exchanges and Clearing Ltd. , said on Monday an employee of one its ring-dealing members had contracted the coronavirus. “The LME believes it important to adapt its trading approach to heed government advice,” the world’s oldest and largest market for industrial metals said in a statement on Tuesday. “If current trends continue, the LME anticipates that it will temporarily move to fully electronic pricing on Monday 23 March.” Prime Minister Boris
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