London Metal Exchange sets up presence in Shanghai FTZ

David Nealis President of Ceres Ltd

London Metal Exchange sets up presence in Shanghai FTZ

Chinese state media has reported that the London Metal Exchange (LME) will open in the Shanghai free-trade zone, becoming the first international exchange house to establish a presence in the FTZ. The LME is the futures exchange with the world's largest market in metals options and futures contracts. It has over 700 approved warehouses for physical commodities in 37 locations in 14 countries. The LME was taken over by the Hong Kong Exchange in December 2012 for US$2.2 billion.

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