The 139-year-old LME (London Metal Exchange) is steadily making the shift to digital trading, which has risen by a fifth this year, to the consternation of the brokers working its open outcry floor. The London Metal Exchange's arcane traditions of using shouting and gestures to trade are being fast overtaken by digital traders, who have no need of brokers. The controversial changes are part of the London Metal Exchange's "Liquidity Roadmap", aimed at bringing in more computer-based traders and hedge funds. An insider said it was a "very dangerous path".
The 139-year-old London Metal Exchange (LME) is steadily making the shift to digital trading, which has risen by a fifth this year, to the consternation of the brokers working its open outcry floor. The LME's arcane traditions of using shouting and gestures to trade are being fast overtaken by digital traders, who have no need of brokers. The controversial changes are part of the LME's "Liquidity Roadmap", aimed at bringing in more computer-based traders and hedge funds. An insider said it was a "very dangerous path".