Donald Brydon, chairman of London Metal Exchange (LME), has warned that the current ban imposed on the extension to the exchange's electronic trading hours could damage London's reputation as a financial capital.
According to FO Week's sister publication, Metal Bulletin, the move by the UK's Office of Fair Trading (OFT) to prevent the trading hours extension on electronic trading platform Select could hurt the City of London's reputation because it directly clashes with the aim of the UK's other regulator, Financial Services Authority (FSA), he said.
"I believe that this case reflects a classic...