HOTLINE: The Bunhill Metal Exchange…

Away from the discussions of Glencore cuts, Noble traders leaving to set up Concord and China’s “one-belt, one-road” programme during London Metals Week, there was some idle chatter about the LME’s planned move next year.

The LME is hoping to move to 10 Finsbury Square by the first quarter of 2016, away from its current home on Leadenhall Street, where it has been based since 1994. 

Earlier this year, Hotline calculated the average change in walking times for the ring-dealing members of the LME, with Sucden coming off worst, but one mischievous warehouseman suggested over a drink that as well as the move, perhaps a change of name might be in order for the bourse. 

Throughout its history the exchange has always resided within the walls of the ancient City of London, but the new location lies just outside the official city boundary, beside the old Bunhill Fields cemetery – last resting place of a number of notable individuals, including William Blake and Daniel Defoe. 

The warehouseman suggested that, given its exit from the city, as well as its owner residing well outside the country – in Hong Kong, perhaps the bourse should lose the London moniker and rename itself the Bunhill Metal Exchange.

The LME declined to comment on the suggestion.

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