The London Metal Exchange has issued a discussion paper on the introduction of an electronic warranting process, a step that would remove the physical component to LME warranting after more than two decades, the exchange said on Monday June 15.
Since the introduction of its electronic warrant transfer platform, LMEsword, in 1999, the bourse has used an external provider for depository services, said to be situated close to London's Liverpool Street.The proposals would see the exchange effectively become its own warrant depository,...