Set up in 1877 to provide a venue for trade conducted among metal merchants in London, the LME was sold in 2012 to the operator of the Hong Kong stock exchange. In 2013, it was a defendant in lawsuits accusing Goldman Sachs, JP Morgan and Glencore-Xstrata of rigging the aluminium market.
The London Metal Exchange and its parent, Hong Kong Exchanges and Clearing (HKEX), are ready to move forward and reboot investor confidence after winning a legal battle against American financial firms over cancelled nickel trades last year.