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Jane Street sues LME over nickel trade chaos

Major market-maker piles the legal pressure on the LME over cancelled trades

The London Metal Exchange at 10 Finsbury Square in London
The London Metal Exchange at 10 Finsbury Square in London Photo: Chris Ratcliffe/Bloomberg/Getty Images

Two major financial players are now suing the London Metal Exchange for a total of nearly half a billion dollars, after the exchange earlier this year suspended nickel trading and cancelled some trades following wild swings in the metal’s price.

The activist hedge-fund manager Elliott Management is seeking more than $456m, and has now been joined by market-maker Jane Street, which is claiming about $15.3m, according to Hong Kong Exchanges & Clearing, which owns LME.

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