City Of London
Jane Street Follows Elliott in Suing LME Over Nickel Trades
- Wall Street powerhouse is seeking $15 million in damages
- HKEX, the owner of the LME, says the claim is without merit
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Wall Street trading powerhouse Jane Street is seeking around $15 million in damages from the London Metal Exchange over its decision in March to cancel nickel trades after an unprecedented short squeeze.
The action by the firm that’s known for its dominance in markets such as exchange-traded funds and corporate bonds follows a similar and larger claim by Elliott Investment Management, which is seeking $456 million from the LME.