The London Metal Exchange (LME) is the leading platform for global metal trading. In the previous year, nickel trading was suspended due to transaction confusion, and the market become skeptical of the LME management since then.

Under this situation, LME decided to modernize its electronic trading system. This new system is expected to be completed in the year 2023. However, due to the huge number of flaws in the new system, this project would be further extended by another year. This delay will further dampen the market confidence in LME. The actual cost of this upgrade was not revealed.

In the future, LME will try to cooperate more with traders. The actual completion date of this new electronic trading system was unknown.