Commodities
LME Seeks to Move on From Nickel Crisis as Traders Return
- Liquidity has improved, volatility decreased in nickel market
- Overall trading volumes are showing signs of return to growth
The trading floor of the open outcry pit at the London Metal Exchange.
Photographer: Jason Alden/BloombergThis article is for subscribers only.
The chief executive of the London Metal Exchange says he’s optimistic that the 146-year-old trading venue is beginning to move on from the nickel crisis that threatened to destroy it.
It’s been a turbulent 19 months since Matthew Chamberlain responded to a runaway short squeeze by suspending the world’s benchmark nickel market and canceling $12 billion of trades. The controversial decisions drove angry investors away from the LME and left the exchange wading through lawsuits and regulatory scrutiny, while its nickel contract remained in tatters.