Jane Street

LME court win affirms the broad powers of exchanges

The London Metal Exchange cancelled $4bn of nickel trades on 8 March 2022, sparking a legal battle

The court said it would not second-guess the LME’s ‘specialist decision-maker’ role

3 min read

The LME cancelled more than $4bn of nickel trades on 8 March 2022 amid a short squeeze, provoking a legal battle

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'

3 min read

Since the historic event last year, the London Metal Exchange has consistently said it needed to intervene to provide an orderly market

LME tells court it halted a ‘death spiral’ with cancelled nickel trades

The exchange argued the crisis would have caused further 'significant and systemic damage' but for its intervention

4 min read

Twenty minutes after waking up, LME chief executive Matthew Chamberlain decided the market had become disorderly say lawyers for Elliott and Jane Street

Elliott, Jane Street tell court LME had ‘no power’ to cancel $4bn in nickel trades

Elliott and Jane Street said that even if the LME had the power to cancel trades, it was 'unlawful' to do so without a stated policy ahead of the time

4 min read