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.
A judicial review in London is considering claims by Elliott Associates and Jane Street Global Trading that they were disenfranchised by LME’s response to chaos in the nickel market.
With its new “action plan”, the Hong Kong Exchanges and Clearing-owned bourse is seeking to rebuild investor confidence a year after chaos in nickel market.