Average daily volumes (ADV) on the London Metal Exchange rocketed as much as 63.2% year on year for the month of April, with aluminium's ADV difference soaring 117.5% higher, according to the bourse's latest monthly trading report.
The LME's monthly trading report includes a breakdown of ADV, with its latest report excluding unallocated trades (UNA) for each metal. An UNA trade is a new service that enables LME members to efficiently book their give-up trades in compliance with the new Markets in Financial Instruments Directive (MiFID) II regulation, the LME explained. Provided free to members, the implementation of UNA can be used to create three reported trades instead of one, aiding compatibility with the MiFID II requirement of matching...