Case study: LME v OFT

LME's run-in with the authorities centred around an objection by an LME member, Spectron, to the exchange's plan to extend its electronic trading hours into the Asian trading day.

OFT said Spectron's complaint argued that the trading extension would threaten the broker's business and "would force Spectron's E-Metal electronic platform to exit the market". As a result, OFT instituted an...