The UK’s Telegraph recently got an inside view of the London Metal Exchange.
LME, the market for more than 80% of global non-ferrous business, recently welcomed a new CEO, Garry Jones.
As the Telegarph reports, Jones has big plans for the world’s oldest and biggest metal’s marketplace.
These include more options trading, smarter technology, and a clearing house.
The trading floor still operates under an ‘open outcry trading system’ – a method which Jones says is the most transparent.
In 2012, Hong Kong Exchanges & Clearing (HKEx) bought the bourse for £1.4bn. Jones says they are committed to keeping it open until at least 2015.
But the LME has earned some bad publicity lately. Multiple lawsuits have been mounted against the trading giant over its metal storage practices.