Stockmarket

Key events while Chamberlain was CEO of London Metal Exchange



© Reuters.

LONDON (Reuters) – Chief Executive of the London Metal Exchange (LME) Matt Chamberlain will step down in April to pursue interests outside the exchange, the LME said on Friday.

Since becoming CEO in April 2017, he has overseen wide-ranging changes at the 145-year-old exchange, the world’s oldest and largest market for industrial metals.

SEPTEMBER 2021

LME reopens its open outcry trading floor, the last such venue in Europe, closed in March 2020 for the first time since World War II due to COVID-19 restrictions.

JULY 2021

LME launches six new cash-settled future contracts, including battery metal lithium, hoping to attract new business from the global move to cut carbon emissions.

JUNE 2021

The LME abandons proposals to permanently close its open outcry trading floor after a backlash among some members, announcing a hybrid model using open outcry for official prices but its electronic system for closing activity.

JANUARY 2021

LME proposes to close its open outcry trading floor and shift permanently to electronic trading, launching a consultation. Chamberlain said the move would allow a broader range of participants and boost transparency of prices used as benchmarks around the world.

DECEMBER 2020

The LME said it will forge ahead with plans to support sustainable metal production starting with the roll-out by mid-2021 of a digital register to store carbon related details of aluminium.

JULY 2019

LME publishes proposals to reform its network of warehouses, aiming to attract more metal and improve transparency by requiring owners to report metal they plan to put on LME warrant.

MAY 2019

Gay Huey Evans is elected Chairman of the Board of LME, the first woman in the post.

JULY 2017

The LME and World Gold Council launch LMEprecious for the trading and central clearing of precious metals products.

APRIL 2017

Hong Kong Exchanges and Clearing Ltd, which owns the LME, announces the appointment of Chamberlain as chief executive. He joined the exchange in 2013 as head of business development and later served as chief operating officer.

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