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UK Regulator Was Missing in Action at Start of Nickel Crisis, Filings Show

(Bloomberg) The UK’s market regulator had only superficial engagement with the London Metal Exchange as it sleepwalked into last year’s nickel crisis, according to information made public as part of a legal battle between the exchange and aggrieved traders.Most Read from BloombergTitanic Sub Crew Presumed Dead After Catastrophic ImplosionTitanic Sub Search Chases Mystery Noises as Air Runs LowThese Are the World’s Most (and Least) Liveable Cities in 2023Debris Found Near Titanic Wreck in Sear ....

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LME faced 'death spiral' with as many as a dozen firms at risk of default amid nickel chaos: lawyer

The London Metal Exchange was forced to step in to stabilise the nickel market in March 2022 as chaos in the market put several members at risk of default and would have depleted the bourse’s fund to close out defaulted members’ positions, the bourse’s lawyer said. ....

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