The London Metal Exchange (LME) board is meeting today to discuss takeover bids and trading fees. According to market sources about 14 firms have expressed interest in acquiring the LME; we understand that about half of the firms expressing an interest have made non-binding bids. Among the runners and riders are Hong Kong Exchanges and Clearing (HKEx), the CME Group, NYSE Euronext and InterContinental Exchange (ICE).
The LME proposal to introduce a GBP0.50 (USD0.77) per-lot levy on segregated and non-segregated cross-trades on March 1 is expected to be delayed following a backlash from some board members and many members.
