LME overhauls tech, data stack amid calls for trading floor closure
The London-based commodities exchange has embarked on an ambitious technology and data infrastructure modernization strategy as it takes steps to close its open-outcry floor.
On January 19, the London Metal Exchange (LME) announced plans to shut down its “Ring” open-outcry trading floor, where commodities trading has been conducted in-person since 1877. But the proposed closure of the ring-shaped trading floor marks the culmination of a push to modernize the exchange’s technology stack and trading strategy that has been in the works for well over two years.
Prior to the publication of its discussion paper on whether to close the pit, the LME’s head of market
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