LONDON - The London Metal Exchange’s open outcry trading floor may remain closed for many more months as it cannot be reopened under COVID-19 social distancing restrictions, the head of the exchange said.
The 143-year-old LME temporarily closed the ring - the last open-outcry floor in Europe - on March 23 when the coronavirus lockdown began. Chamberlain said the transition to fully electronic trading has been smooth, with no complaints from members or clients. “Although we’ve shown things work well without the ring, things work well with the ring as well. You could now have a conversation with members, should they wish, about which is better for the long term,” he said.
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