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LME wins nickel court battle against Elliott and Jane Street

The LME faced a $470m lawsuit over last year's nickel crisis, but judges rule exchange was allowed a 'margin of discretion'

The LME cancelled more than $4bn of nickel trades on 8 March 2022 amid a short squeeze, provoking a legal battle
The LME cancelled more than $4bn of nickel trades on 8 March 2022 amid a short squeeze, provoking a legal battle Photo: Paul Hackett/Getty Images

The London Metal Exchange has won its court case against Elliott Management and Jane Street over its decision to void billions in nickel trades last year.

The LME cancelled more than $4bn in trades on 8 March 2022 after a short squeeze in Asian trading hours sent the price of nickel surging to over $100,000 per ton.

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