LME trading resumes following fault

<p>A fault on the LME has been fixed.</p>

Trading is back underway on the London Metal Exchange (LME) after a fault was fixed.

The LME confirmed that trading had to stop at around 10:00 BST yesterday morning (September 24th), but was back online just a few hours later.

It was explained by a spokeswoman that users had 15 to 20 minutes’ warning before trading was suspended and it communicated with users during the shutdown “to ensure that the recovery was controlled and orderly”.

Speaking to BBC News, the spokeswoman said: “It was a controlled halt.” Only electronic trading on the LME is believed to have been affected by the fault.

Other exchanges across the world have seen technical issues in the last few months, with the Nasdaq index in New York experiencing a major outage last month.

It was down for around three hours when a problem distributing stock price quotes arose.

According to the LME, more than 80 per cent of global non-ferrous business is conducted via the index and the prices discovered on the three trading platforms are used as the global benchmark.

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