Photographer: Luke MacGregor/Bloomberg
Photographer: Luke MacGregor/Bloomberg

Last Day of London Metal Exchange Trading at Leadenhall Street

First located above a hat shop in the City of London, the ring dates to the 1800s, when merchants drew a circle in sawdust to trade tin and copper. Photographs by Luke MacGregor for Bloomberg

Europe's last bastion of open outcry trading has moved again. The London Metal Exchange, the world's biggest metals marketplace and home to the "ring," ended trading at its Leadenhall St premises on Jan. 27. Its new address, 10 Finsbury Square, is the fifth home of the bourse in its 139-year history.

Open Outcry Pit
Open Outcry Pit

Metal merchants would draw a circle in the sawdust on the floor of The Jerusalem Coffee House and call out 'Change,' inviting traders to gather and make their bids and offers.

Making the Call
Making the Call

A broker speaks on a telephone on the trading floor.

End of an Era
End of an Era

The London Metal Exchange (LME) accounts for more than 70 percent of industrial-metals futures trading.

Strict Rules Apply
Strict Rules Apply

Standing up, chewing gum and the use of cell phones, as well as eating and drinking, are strictly prohibited.

Frantic
Frantic

The last few minutes can often make for a few frenzied moments.

Books
Books

Trading books rest on the top of seats.

Snapshot
Snapshot

A broker takes a photo on his phone.

Dress Code
Dress Code

Ring dealers must wear suits, ties and dark shoes, according to the LME’s disciplinary code of conduct.

Closing Bell
Closing Bell

London Metal Exchange CEO Garry Jones, rings the final bell on the trading floor of the open outcry pit, on the last day of trading at its Leadenhall Street premises.

Embrace
Embrace

Traders embrace at the end of the day's trading.

Beer
Beer

A broker enjoys a beer at the end of the day's trading.

Hang Up
Hang Up

Phones lie on the floor after trading closed.