The London Metal Exchange has opted to keep its traditional open-outcry format for closing prices after receiving negative feedback from its electronic nickel trial, the exchange said in a note to members on Wednesday February 5.
With the decision made not to permanently change its closing price process, the LME's trade-at-settlement function (TAS), which allows participants to buy or sell a contract at the closing price during the course of the trading day, will remain in place.Both price discovery processes emerged out of the LME's Strategic Pathway, which was established in 2017.In it, the LME pledged to collaborate with the market to explore further avenues of price discovery and settlement, resulting in a three-month...