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Hedge fund boss Ken Griffin says LME was ‘incomprehensibly wrong’ to wipe $4bn in nickel trades

Griffin is the latest in a number of market participants and regulators to comment on the LME’s handling of nickel trading in March

By

Jeremy Chan

‘There are all kinds of adverse consequences that come from exchanges, changing the rules of the road after the fact,’ Ken Griffin said
‘There are all kinds of adverse consequences that come from exchanges, changing the rules of the road after the fact,’ Ken Griffin said Photo: Patrick T. Fallon/Getty Images

Kenneth Griffin, chief executive and founder of hedge fund Citadel, is the latest finance giant to criticise the London Metal Exchange after a March spike in nickel prices led the trading platform to cancel almost $4bn in trades.

"That was one of the worst days in my professional career in terms of watching the behaviour of an exchange," he said in an interview with Bloomberg on 19 May.

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