SocGen Withdraws from LME's Open-Outcry Trading Floor Effective August 27, 2024

Aug 23, 2024, 10:34 AM

Société Générale (SocGen) has announced its withdrawal from the London Metal Exchange's (LME) open-outcry trading floor, known as the 'Ring'. The decision, effective August 27, 2024, raises questions about the viability of the iconic trading floor, which has seen a decline in volumes following its closure during the pandemic. SocGen will continue to be a clearing member of the exchange. The LME has indicated that it may consider closing the trading floor permanently if the number of members falls below six.