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LME electronic trading platform fails to open, start time uncertain

Published 12/01/2017, 03:14
Updated 12/01/2017, 03:40
© Reuters. File photo of men walking past the London Metal Exchange (LME) in London

© Reuters. File photo of men walking past the London Metal Exchange (LME) in London

SYDNEY (Reuters) - The London Metal Exchange's electronic trading platform LMESelect failed to open on Thursday at its usual time of 0100 GMT and was still down two hours later, with no indication given by the platform's operator on when trading might start.

A spokesman for LMESelect's owner, Hong Kong Exchanges and Clearing Ltd (HKEx) (HK:0388), said it was checking with the London Metal Exchange, operator of the platform, to find out why trading had failed to start. The platform remained down at 0300 GMT.

The LME sent a notice on Thursday to members say it was investigating the problem, but gave no timeframe for fixing it, two traders said. All media queries to LME go through HKEx during Asian trading hours.

Trading on the LME was delayed for almost four hours last July due to technical issues relating to members' ability to connect to the market.

© Reuters. File photo of men walking past the London Metal Exchange (LME) in London

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