2. The price and inventory of London Metal Exchange have an important influence on the production and sales of non-ferrous metals worldwide. /kloc-In the middle of 0/9th century, Britain was the largest producer of tin and copper in the world. With the passage of time, the industrial demand is increasing, and Britain urgently needs to import a large number of industrial raw materials from foreign mines. Since the beginning of this century, the London Metal Exchange has publicly released its trading price, which has been widely used as the benchmark price of world metal trade. 70% of the global copper production is traded according to the official quotation published by the London Metal Exchange.
London Metal Exchange, the world's largest metal exchange, will accept RMB as collateral for banks and brokers to trade on this platform, which is the latest step in the process of RMB globalization. The turnover of London Metal Exchange in 20 14 years is 15 trillion dollars. At present, the pledged currencies accepted by the Exchange include US dollar, Euro, British pound and Japanese yen.
20 13 On August 27th, HKEx announced the appointment of Garry Jones as the chief executive officer and board member of the London Metal Exchange.
Trading means
1.LME does not implement the price limit system. When the ring is traded, each commodity is traded alternately in each trading market for 5 minutes; In OTC trading, all metals are traded at the same time, and the index is traded at the same time; The rest of the non-trading time (inter-office) is electronic disk (24-hour trading).
LME considers extending floor trading hours.
2. According to senior traders, London Metal Exchange (LME) may increase early open outcry trading for its unique futures contract, because the new Hong Kong shareholders plan to cope with the competition from Shanghai Futures Exchange.
The launch of the third and earlier trading session will be the biggest change of this 135 historical exchange since it started electronic trading more than ten years ago, which also runs counter to the current global electronic trading trend.
3. The executives of the three trading companies said that the LME Trading Committee had discussed advancing the start time of "on-site" and "off-site" trading in London.
An executive said: "LME is discussing the early trading of OTC to match the Far East market."
It is not yet known when the LME will make a final decision, but informal negotiations may continue next week. Trading company executives said that the new trading hours will be implemented as early as the first quarter.