LME Proposes Rules to Prevent Market Abuse at Warehouses
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The London Metal Exchange proposed changes designed to strengthen its powers to investigate and prevent market abuse at warehouses amid scrutiny of delivery backlogs.
The proposed rule changes represent the latest step in the LME’s efforts to reduce wait times for receiving metal. The exchange, which monitors a network of about 700 depots, plans to require warehouses to submit more information to ensure companies aren’t distorting the market, according to an e-mailed statement yesterday.