“The IT function is a significant contributor to the success of the London Metal Exchange [LME] and is the largest single department within the company – both by headcount and by cost,” says Robin Paine, chief technology officer at the LME. “The IT function thus has a significant responsibility to deliver value to the LME market participants, the regulators and to the LME parent company, Hong Kong Exchanges and Clearing [HKEx].”
HKEx became the first Asian exchange to make a cross-border acquisition when it bought the LME in December 2012 for £1.4bn ($2.25bn). A significant restructuring is now taking place within the LME, which is the world’s largest metals market, trading both physical and derivative products. Mr Paine, who was appointed in June 2013, is overseeing an exciting but complex transformation.