The Managed Funds Association has made a formal complaint to the London Metal Exchange, alleging it failed to perform its regulatory functions when it cancelled thousands of nickel trades in March.
The letter from the MFA, which represents many of the world’s biggest hedge funds, came three months after the LME provoked uproar among some users for cancelling eight hours’ worth of activity in its nickel market.
A squeeze on a short seller forced the price of the metal up 250 per cent in just a couple of days, to touch $100,000 a tonne. The LME’s parent, Hong Kong Exchanges and Clearing, said earlier this week that the LME decision was taken because the market had become “disorderly”.
您已阅读55%（689字），剩余45%（564字）包含更多重要信息，订阅以继续探索完整内容，并享受更多专属服务。