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Will SocGen's withdrawal significantly reduce trading volumes on the LME's trading floor by December 31, 2024?
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Trading volume reports from the London Metal Exchange (LME)
Story
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.
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