The London Metal Exchange, one of Europe's largest commodity markets, has said it has received several expressions of interest with regard to potential strategic transactions. The board, which is being advised by Moelis & Company, will begin a formal process which may or may not lead to an acceptable offer for the company being received, the exchange said today. The interest shown in the LME, where total trading volumes are currently at record levels, reflects the importance of the exchange in global commodities markets.