| Parent group HKEx in climbdown after chief had said group was not ‘ripping off’ customers. The London Metal Exchange has bowed to pressure from disgruntled members and slashed fees for one of its most popular trades in an attempt to stem falling activity.
The move is a climbdown for the world’s centre for metals trading and its parent company Hong Kong Exchanges and Clearing, which bought the 139-year-old exchange for £1.4bn in 2012. Charles Li, chief executive of HKEx, had defended the LME’s fee structure as recently as June, saying its charges were not excessive and it was not “ripping off” its members...............................................Full Article: Source
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