FCA Warns Exchanges on ‘Operational Resilience’ After LME Shock
Traders, brokers and clerks on the trading floor of the open outcry pit at the London Metal Exchange on Feb. 28.
Photographer: Chris J. Ratcliffe/BloombergThis article is for subscribers only.
The U.K.’s markets regulator said it “is continuing to work closely” with the London Metal Exchange following the stop-start glitches at the nickel market and warned that it expected exchanges to deliver a “high standard of operational resilience.”
The Financial Conduct Authority said it expects exchanges to “address issues, and their root causes, promptly and effectively if they arise,” according to a statement Friday. The comments go beyond the FCA’s prior comments last week that called for a resumption of a “fair and orderly market in nickel.”