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LME Hit with £9.2M Fine for Nickel Market Crisis

3/20/2025

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Summary

Story summary

The London Metal Exchange (LME) faces a hefty £9.2 million fine from the Financial Conduct Authority for its failure to manage a nickel market crisis sparked by Russia's invasion of Ukraine in March 2022. Poor oversight caused wild price swings, leading to an eight-day trading halt and the cancellation of a staggering $12 billion in trades.

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Story summary

The London Metal Exchange (LME) faces a hefty £9.2 million fine from the Financial Conduct Authority for its failure to manage a nickel market crisis sparked by Russia's invasion of Ukraine in March 2022. Poor oversight caused wild price swings, leading to an eight-day trading halt and the cancellation of a staggering $12 billion in trades.