LME increases Select replacement spend

London Metal Exchange (LME) is to pay out a further "multi-million dollar" sum for technology after the end of its current deal with OM, but stressed its new system will still come in substantially cheaper than the OM system.

The exchange will pay an unspecified multi-million dollar sum to Savvis Communications over three years for the provision of managed hosting and private networking services. This is in addition to the £2m being paid to...