The London Metal Exchange is prepared for whatever outcome arises from the planned departure of the UK from the European Union, including a so-called "hard" Brexit, its chief executive officer said on Tuesday March 12.
The two key requirements for the exchange to continue to operate as normal had already been achieved, or would be achieved, by the time of Brexit, Matthew Chamberlain said.Brexit, the name given to the process by which the UK intends to leave the trading bloc, could happen as early as March 29."We've been clear that, throughout this process and whatever our political views or personal hopes for the outcome, we need to ensure that the LME is prepared for every scenario," Chamberlain told Fastmarkets in an interview."Most crucially, that means being prepared for a 'hard' Brexit, which clearly could occur. We would be being irresponsible if we weren't prepared for that," he said. A hard Brexit would be if the UK left the EU with no deal in place to...