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LME faces legal action from AQR, Capstone over $4bn in wiped nickel trades

Prospect of new legal action adds to woes after two lawsuits were filed against the exchange back in June

The LME took the unheard of decision to cancel almost $4bn in nickel trades in March
The LME took the unheard of decision to cancel almost $4bn in nickel trades in March Photo: Getty Images

The London Metal Exchange is facing fresh legal action from five trading firms including AQR Capital and Capstone Investment over its handling of the March nickel crisis.

A pre-action disclosure request was filed last month with the commercial court in London, but was only made public this week.

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