LONDON: Electronic trading on the London Metal Exchange’s LME Select platform resumed at 1730 GMT on Monday after an outage of nearly three hours caused by a technical issue.
Prices for the LME’s metal contracts, including copper, aluminium, lead, zinc, nickel and tin stopped updating on LSEG’s Workspace platform shortly before 1500 GMT.
The LME, the world’s oldest and largest market for industrial metals, said its primary electronic matching engine encountered an issue, causing electronic trading to enter a technical halt. The inter-office market remained open throughout, it said. “Although all closing prices were produced per the LME’s usual process, a Disruption Event was declared, because the system issue affected the ability of market participants to hedge at the relevant prices,” the LME said in a statement.
Comments