LME Upgrades E-trading Platform
The London Metal Exchange (LME) has upgraded its electronic trading platform LMEselect to provide a more robust system that offers operational efficiencies. The upgrade comes on the back of a record trading month for the exchange overall and also LMEselect. Exchange volumes were up 44% in October compared to the corresponding period of 2007 with 11,218,308 lots traded. LMEselect also recorded an increase of 23% on its previous record month. Martin Abbott, LME chief executive, said: “The introduction of the upgraded LMEselect has gone smoothly and will provide a more robust system that offers operational efficiencies going forward. This comes at a time in the current exceptional trading environment when the LME is experiencing record volumes that require efficient and robust systems.”
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