金融市場

The day nickel trades gave LME a hard awakening

Judicial review hears of exchange’s actions in March 2022 when it feared market had turned disorderly

When Matthew Chamberlain woke up at 5.30am on March 8 2022 and glanced at metals prices on his phone, he immediately knew something was wrong.

As the chief executive of the London Metal Exchange scrolled through his mobile — still bleary after dealing with emails until nearly 11pm the night before — he became “alarmed” at the speed at which the price of nickel was rising.

By 5.53am the nickel price had jumped 30 per cent — and was still going up. “I had never witnessed such extreme price movements,” Chamberlain says in court documents. “There was no doubt in my mind that the market had become disorderly.” Just after 6am nickel prices had soared past $100,000 per tonne, up from $60,000 when he awoke.

您已閱讀9%(706字),剩餘91%(7039字)包含更多重要資訊,訂閱以繼續探索完整內容,並享受更多專屬服務。
版權聲明:本文版權歸FT中文網所有,未經允許任何單位或個人不得轉載,複製或以任何其他方式使用本文全部或部分,侵權必究。
設置字型大小×
最小
較小
默認
較大
最大
分享×