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UK regulators to probe LME’s nickel fiasco after exchange cancelled $4bn in trades
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fnlondon.comThe UK’s regulators said they would probe the London Metal Exchange’s 8 March suspension of nickel trading after a wild ride in the metal led the exchange to cancel about $4bn in trades.
A squeeze on one fund’s massive short of nickel triggered the price to more than double on 8 March. The LME then halted trading and pushed back the clock a day, wiping trades that would have been lucrative for some.
“Events...
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