The Nickel Squeeze Still Has City Reeling
Leaders with Francine Lacqua
Bloomberg
4.6 • 64 Ratings
🗓️ 14 July 2022
⏱️ 20 minutes
🧾️ Download transcript
Summary
For centuries the London Metal Exchange has been the home of global benchmark prices for the world’s key industrial metals. But how the LME handled nickel trading in March has put its status as a City of London institution in doubt. Questions are being raised about its structure, ownership and future as lawsuits pile up and market experts forecast a mass exodus of LME members down the road. Bloomberg reporter Jack Farchy joins to unpack the long-term consequences for the exchange.
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| 0:54.9 | Now on Apple, Spotify, or anywhere you listen. Oh, boy. That was one of the worst days in my |
| 1:06.1 | professional career in terms of watching the behavior in exchange. We didn't have any meaningful position in Nickel at all. |
| 1:11.6 | I'm not sure we traded a single contract that day. |
| 1:13.6 | I just, I don't know. |
| 1:14.6 | It wasn't material to us. |
| 1:15.6 | But to see an exchange close and then cancel hours' worth of activity was just utterly, just incomprehensibly wrong. |
| 1:26.6 | I'm Francie Lacqua in the London studio. utterly just incomprehensibly wrong. |
| 1:31.1 | I'm Franzi Lakwa in the London studio. |
| 1:33.3 | And I'm David Merritt also in the London studio. |
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