Landlines and leather benches: The curious survival of London’s metals market that time forgot

Quick Summary:

A trading floor where ties are still mandatory, phones are banned, traders yell across the Ring, and one heel must always touch the bench.

The LME wanted to shift entirely to electronic trading in 2021, but faced pressure from its remaining traders to keep the tradition alive.

The London Metal Exchange and its open-outcry tradition began towards the end of the 19th century, pausing only during World War I and again during the Covid-19 pandemic.

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Article Details

Author / Journalist: AFP

Category: EconomyBusiness

Markets: United States

Topics: Trading Editor's Picks City of London Metals LondonWires London

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-09 @ 09:55:52 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: fortune.com

Language: English

Article Length: 729 words

Reading Time: 5 minutes read

Sentences: 4 lines

Sentence Length: 183 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Fortune

News ID: 27752602

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Main Topics: EconomyBusiness

Official Website: fortune.com

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Year Established: 1929

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News Last Updated: 8 hours ago

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