The Ring, where traders shout buy-and-sell instructions, may close for good after Covid forced electronic trading
The sharp suited traders at the London Metal Exchange may never return to their red leather benches, after the managers of Europe’s last remaining in-person trading floor set out plans to move entirely to electronic trading.
The LME’s proposed closure of the Ring – known for its distinctive circle of red sofas – would mark one of the biggest changes to the world’s oldest and largest metal bourse since its founding in a City of London coffee house in 1877.
