HKEX Chairman, Laura M Cha, said: “The UK Courts confirmed that claims made against the LME in relation to events in the nickel market in March 2022, have failed on all grounds and have been dismissed. The courts have upheld the lawfulness of the decisions made by the LME and LME Clear. This is good news not just for the LME and for HKEX, but for exchanges globally. We can now look forward to the future and focus on the vital role that we play in connecting capital, ideas and market participants around the world.”

HKEX Chief Executive Officer, Nicolas Aguzin, said: “The courts ruled emphatically in favour of the London Metal Exchange and LME Clear, dismissing all claims made against them in respect of events in the nickel market last year. I am delighted for Matt and the team at LME, as they have acted throughout with the utmost integrity, placing the interest of the market as a whole front and centre at all times. Exchanges have a unique role in global markets and in our economies, proving vital infrastructure, oversight, connectivity and above all fostering trust. It is now time to look forward to the incredible opportunities ahead, and the key role that the LME will continue to play in the pricing the metal that will shape the industries and technologies of tomorrow.”

Ruling<https://www1.hkexnews.hk/listedco/listconews/sehk/2023/1129/2023112901095.pdf>

Source: LME