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Industry Report > LME faces litigation risk again due to nickel trading, and the claim amount is about USD 15.34 million
LME faces litigation risk again due to nickel trading, and the claim amount is about USD 15.34 million
Postdate:2022-06-07 Views:1404
The Hong Kong Stock Exchange announced that the wholly-owned subsidiaries London Metal Exchange (LME) and LME clear Limited were named as defendants in a judicial review claim filed by Jane Street global trading, LLC. The claim was filed in the high court of England on 6 June 2022 and served on LME and LME clear. The claim intends to challenge LMEs decision to cancel the nickel contract transaction that the plaintiff claims to execute on or after 00:00 UK time on march8,2022. The plaintiff claimed that the decision was illegal under public law and / or constituted a violation of the plaintiffs human rights. The plaintiff claimed about US $15.34 million. LME management believes that the claim has no legal basis, and LME will actively defend it.
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