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London Metal Exchange increases power to shorten warehouse queues

Section: Daily Dispatches

By Maytaal Angel and Susan Thomas
Reuters
Thursday, November 7, 2013

LONDON -- The London Metal Exchange, aiming to appease critics of its global storage network, today slashed queues for metal, beefed up its powers to act against market abuse, and will review its agreement with warehouse owners.

The world's largest and oldest metals marketplace is under intense regulatory and legal pressure over its storage system, with complaints about queues of more than a year and large surcharges to withdraw material from its warehouses.

... For the full story:

http://www.reuters.com/article/2013/11/07/lme-warehouses-idUSL5N0IS27D20...



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