Pursuits
Senate Democrats Urge CFTC Review of LME Aluminum Trading
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The U.S. Commodity Futures Trading Commission should probe the London Metal Exchange to ensure aluminum trading and warehousing are free of manipulation, three Democratic senators said in a letter.
The regulator must investigate whether LME rules sufficiently protect against conflicts of interest between firms’ trading and warehouse operations, Senators Sherrod Brown of Ohio, Elizabeth Warren of Massachusetts and Tammy Baldwin of Wisconsin said in the letter dated yesterday. The review should come before the agency grants full registration to the LME as a foreign trading exchange.