Showing posts with label LME. Show all posts
Showing posts with label LME. Show all posts
18 February 2012
SilverDoctors: CME Group Places Bid for London Metal Exchange
SilverDoctors: CME Group Places Bid for London Metal Exchange: The fallout (decline in trading volume) from the MF Global fiasco must be greater than ever we imagined. Less than 2 weeks ago the CME anno...
10 January 2012
SilverDoctors: LME To Introduce LMEswaps For Hedging Metals Again...
SilverDoctors: LME To Introduce LMEswaps For Hedging Metals Again...: The investment world must be catching on to the issues regarding the bullion inventory or alleged lack thereof in the GLD and SLV. The LME ...
04 January 2012
EXCLUSIVE-Big banks may line up to block sale of LME
* Potential bidders CME, ICE would entail U.S. regulation
* Tough regulator could curb holdings of dominant positions
* Blocking stake of 25.1 pct seen achievable
By Melanie Burton and Susan Thomas
LONDON, Jan 3 (Reuters) - Top bank stakeholders of the London Metal Exchange are likely to amass enough support to block a sale they fear would bring a more heavily regulated owner and hurt their lucrative warehousing businesses, senior industry sources say.
The LME said in September that at least 10 parties had expressed interest in buying it, and analysts estimate it could be worth as much as $1 billion. As a member-owned organisation, the exchange requires approval from members holding 75 percent of outstanding ordinary or "A" shares for any sale.
Potential buyers are likely to include CME Group Inc , IntercontinentalExchange and SGX Singapore Exchange. The first two in particular have stricter U.S. regulators, which could threaten members' businesses.
Big banks such as J.P. Morgan and Goldman Sachs have invested heavily in physical metals business since the economic downturn began by buying warehouses and beefing up their trading teams and financing operations.
Shunting metal around has been a money spinner for them as slowing global growth pulls down commodity prices and leads to stockpiles of surplus material.
* Tough regulator could curb holdings of dominant positions
* Blocking stake of 25.1 pct seen achievable
By Melanie Burton and Susan Thomas
LONDON, Jan 3 (Reuters) - Top bank stakeholders of the London Metal Exchange are likely to amass enough support to block a sale they fear would bring a more heavily regulated owner and hurt their lucrative warehousing businesses, senior industry sources say.
The LME said in September that at least 10 parties had expressed interest in buying it, and analysts estimate it could be worth as much as $1 billion. As a member-owned organisation, the exchange requires approval from members holding 75 percent of outstanding ordinary or "A" shares for any sale.
Potential buyers are likely to include CME Group Inc , IntercontinentalExchange and SGX Singapore Exchange. The first two in particular have stricter U.S. regulators, which could threaten members' businesses.
Big banks such as J.P. Morgan and Goldman Sachs have invested heavily in physical metals business since the economic downturn began by buying warehouses and beefing up their trading teams and financing operations.
Shunting metal around has been a money spinner for them as slowing global growth pulls down commodity prices and leads to stockpiles of surplus material.
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