London Metal Exchange has approved Calyon, the investment banking arm of French bank Crédit Agricole, as a category 2 member, allowing it to use the LME’s telephone broking system.
“Calyon has been approved by the board of directors but they are not live yet so Calyon are still trading as a category 4 member,” said an LME spokesperson in London.
Category 4 members (‘associate brokers’) can only use the LME’s electronic trading platform LME...