By Eric Onstad and Pratima Desai
LONDON (Reuters) – The open-outcry floor at the London Metal Exchange (LME) may remain closed for several more months because reopening is impossible under COVID-19 social distancing restrictions, the head of the exchange said.
LME Chief Executive Matthew Chamberlain also told Reuters the exchange was interested in potential merger and acquisition (M&A) activity, but nothing was on the agenda now due to difficult valuations.
“You cannot really have social distancing. We and our ring-dealing members just don’t see how that would work,” he said in an interview.
“It is certainly a possibility that if social distancing is required for many more months, then the ring is closed for many more months,” he added.
(Reporting by Eric Onstad and Pratima Desai; Editing by Veronica Brown and Edmund Blair)
