The London Metal Exchange is opening a market consultation period regarding its approach to pre-trade transparency, and has suggested three possible ways to meet the requirements set out by the European Union’s MiFID II regulation, it said in a note to members on Tuesday January 15.The LME has a threefold approach to trading, which involves face-to-face trading in the physical ring, LMEselect’s electronic platform, and the inter-office telephone market.It is pre-trade transparency in the telephone market, where market interactions take place in an area not maintained by the LME, that is under the spotlight.
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