Focus on London over sale of commodities floor
The London Metals Exchange is up for sale and has been calling for bids.
At least four exchanges have submitted bids to buy the LME which has been running as an open outcry commodities exchange for 135-years.
The Hong Kong Exchanges and Clearing Exchange has confirmed that it is interested in buying the LME.
The US-based CME Group, NYSE Euronext and IntercontinentalExchange are also believed to be involved in the process, which would give them access to more than 80% of non-ferrous metals trades.
Officials at the LME have declined to say how long the bidding process will take as many voting shareholder companies and members of the exchange are involved.
The value of the exchange is believed to be around $1.3 billion.
Source: Britain News.Net
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