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London Metals Exchange weighs permanently closing 144-year-old trading pit

The LME was the last bastion of open outcry trading in the City, announced a proposal to make permanent the closing of the trading venue

By

William Canny

Tuesday, 19 January 2021 at 12:08

The venerable exchange, founded in 1877, is known for its open outcry trading pit, dubbed The Ring
The venerable exchange, founded in 1877, is known for its open outcry trading pit, dubbed The Ring Photo: Chris Ratcliffe/Getty Images

The London Metals Exchange is proposing a plan to close its iconic trading pit, dubbed The Ring, spelling the demise of so-called open outcry trading in London.

The LME, the last bastion of open outcry trading in the City, announced on 19 January the proposal to make permanent the closing of the trading venue.