Trading

Hedge fund titan Clifford Asness leads trader fury after LME cancels $4bn in nickel trades

Nickel trading has been suspended most of the week as the LME weighs its options

Friday 11 March 2022 at 13:26

Nickel trading on the LME still hasn't resumed, and the halt will likely extend until at least mid-March
Nickel trading on the LME still hasn't resumed, and the halt will likely extend until at least mid-March Photo: Getty Images

Hedge fund titan Clifford Asness joined traders in slamming the London Metal Exchange after the platform cancelled trades – a move that may have helped stem losses at a fund that was short the metal.

Nickel traders were blindsided this week as the wild ride in the metal saw prices more than double in overnight trading – prompting the London Metal Exchange to cancel orders and halt trading.