Table of Contents
France’s third-largest bank will stop trading on the London Metal Exchange (LME) next week, dealing a major blow to the open-outcry trading floor.
Societe Generale’s exit on Tuesday will leave the LME ring, which sets global prices for metals such as aluminium, copper and nickel, with just seven members.
Other companies operating on the platform include Marex, Sigma Broking and GF Financial Markets (UK). The exchange, known for its lively atmosphere, could close permanently if it has fewer than six members.
Something to note: Société Générale will leave the LME Ring with only seven members
Société Générale will remain a clearing member.
Each metal is traded in five-minute sessions, which produce a daily cash settlement price.
It is then incorporated into physical supply contracts.
The LME, established in 1877, is the oldest metal exchange in the world.
It was purchased for £1.4 billion by Hong Kong Exchanges & Clearing Limited in 2012.
DIY INVESTMENT PLATFORMS
![A major French bank will stop trading on the London Metal Exchange 7 Easy investment and ready-to-use portfolios](https://whatsnew2day.com/wp-content/uploads/cwv-webp-images/2024/02/Britains-pay-rises-forecast-to-slow-for-the-first-time.png.webp)
AJ Bell
![A major French bank will stop trading on the London Metal Exchange 7 Easy investment and ready-to-use portfolios](https://whatsnew2day.com/wp-content/uploads/cwv-webp-images/2024/02/Britains-pay-rises-forecast-to-slow-for-the-first-time.png.webp)
AJ Bell
Easy investment and ready-to-use portfolios
![A major French bank will stop trading on the London Metal Exchange 9 Free investment ideas and fund trading](https://whatsnew2day.com/wp-content/uploads/cwv-webp-images/2024/02/1707733883_749_Britains-pay-rises-forecast-to-slow-for-the-first-time.jpg.webp)
Hargreaves Lansdown
![A major French bank will stop trading on the London Metal Exchange 9 Free investment ideas and fund trading](https://whatsnew2day.com/wp-content/uploads/cwv-webp-images/2024/02/1707733883_749_Britains-pay-rises-forecast-to-slow-for-the-first-time.jpg.webp)
Hargreaves Lansdown
Free investment ideas and fund trading
![A major French bank will stop trading on the London Metal Exchange 11 Flat rate investing from £4.99 per month](https://whatsnew2day.com/wp-content/uploads/cwv-webp-images/2024/02/1707733883_266_Britains-pay-rises-forecast-to-slow-for-the-first-time.png.webp)
interactive investor
![A major French bank will stop trading on the London Metal Exchange 11 Flat rate investing from £4.99 per month](https://whatsnew2day.com/wp-content/uploads/cwv-webp-images/2024/02/1707733883_266_Britains-pay-rises-forecast-to-slow-for-the-first-time.png.webp)
interactive investor
Flat rate investing from £4.99 per month
![A major French bank will stop trading on the London Metal Exchange 13 Get £200 back in trading commissions](https://whatsnew2day.com/wp-content/uploads/cwv-webp-images/2024/07/EasyJet-expects-record-summer-as-peak-season-profits-take-off.png.webp)
Saxo
![A major French bank will stop trading on the London Metal Exchange 13 Get £200 back in trading commissions](https://whatsnew2day.com/wp-content/uploads/cwv-webp-images/2024/07/EasyJet-expects-record-summer-as-peak-season-profits-take-off.png.webp)
Saxo
Get £200 back in trading commissions
![A major French bank will stop trading on the London Metal Exchange 15 Free treatment and no commissions per account](https://whatsnew2day.com/wp-content/uploads/2024/08/A-major-French-bank-will-stop-trading-on-the-London.png%20)
Trade 212
![A major French bank will stop trading on the London Metal Exchange 15 Free treatment and no commissions per account](https://whatsnew2day.com/wp-content/uploads/2024/08/A-major-French-bank-will-stop-trading-on-the-London.png%20)
Trade 212
Free treatment and no commissions per account
Affiliate links: If you purchase a product This is Money may earn a commission. These offers are chosen by our editorial team as we believe they are worth highlighting. This does not affect our editorial independence.