INTL AL CONF: New LME ring trading is 'compromise' after 'difficult conversations,' Chamberlain says

The London Metal Exchange trading ring will reopen on Monday September 6, for the first time in 18 months, and chief executive officer Matthew Chamberlain admits that there have been a lot of tough conversations with members about its future.

Ring trading will look very different after the restart. Closing prices will be traded electronically, via LMESelect, and only official prices will move back onto the open-outcry trading ring.
"Clearly, the last six-to-eight months have had some difficult engagements, let's be honest about that," Chamberlain said at this year's International Aluminium Conference on September 2.
"We came out in January and we were very honest in saying that we felt electronic trading had worked well in the nine months of the [Covid-19] pandemic, up to that point," he added.

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