The London Metal Exchange has paused plans to implement pre-trade transparency (PTT) changes to its inter-office market, it said in a note to members on Monday April 20, citing the significant impact of Covid-19 in the postponement of the initiative.
The changes, which are a requirement of the European Securities and Markets Authority's (ESMA) Markets in Financial Instruments Directive (MiFID II) regulations, will offer a system fixed price auction (SFPA), allowing a 30-second delay after pre-trade information is published before a final deal is executed....