The London Metal Exchange has fined warehouse operator Istim ?30,000 ($37,120) for breaching clauses of its warehouse agreement, the exchange said in a notice to members on Friday June 19.
Between September 12 and December 9, 2019, Istim erroneously instructed its London agent to issue primary aluminium warrants containing incorrect brand names and/or shapes on five separate occasions, the LME said."Following an investigation by the LME, the enforcement committee of the LME instructed that disciplinary proceedings be instituted against the warehouse...