The London Metal Exchange cancelled $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.
The London Metal Exchange (LME) is preparing to defend itself in court on Tuesday, more than a year after it was forced to suspend nickel trading following a short squeeze that threatened to destabilise the global market in March 2022. US hedge fund Elliott Associates and quantitative investing firm Jane Street Global Trading have sued the 146-year-old bourse in London, saying its actions to stem the chaos favoured some clients over others and violated their rights under the European Convention
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