LME Returns to Court Over $12 Billion Nickel Trading Fiasco

The London Metal Exchange (LME) is back in court this week as it seeks to defend against Elliott Investment Management’s application to appeal the nickel case. Elliott Associates along with Elliott International issued judicial review proceedings against LME to challenging its decision to cancel $12bn of trades in ‘3M’ nickel futures on the morning of 8 March 2022 following sharp price rises. In early March 2022, nickel prices rose very dramatically. At 08:15am on 8 March 2022, the LME suspended nickel trading, later publishing…