The LME is facing lawsuits and formal complaints from heavy-hitting hedge funds following the fallout from its controversial decision in March to cancel nickel trades. Once again, the reputation of the exchange and its owner Hong Kong Exchanges and Clearing (HKEX) are on the line. US hedge fund Elliott Management is suing the London Metal Exchange for US$456.39 million at the English High Court over its decision to suspend and cancel nickel trades. Fellow investment firm Jane Street Global is similarly suing for $15.34 million.
NSTL
