Some brokers think LME could move to Hong Kong

05/6/2013 | Reuters

As new rules from the European Market Infrastructure Regulation come online, some brokers that use the London Metal Exchange say that the LME could move to Hong Kong, where its new owner, Hong Kong Exchanges and Clearing, is located. "If you make all these rules and make it extremely costly to operate here, they could say 'OK, run the trading floor for another five years, then do away with the floor, go fully electronic and move.' The new owners need to see a return on their investment," an unidentified broker said.

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