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.

Find out about commodities trading and learn CFD strategies at City Index

Build your confidence risk free
Join our live webinars for the latest analysis and trading ideas. Register now

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.