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[United Kingdom]
Posted on : Sep 15, 2008
The London Metal Exchange, the world's largest copper bourse, suspended Lehman Brothers Holdings Inc. from trading on its electronic trading system after the U.S. bank filed for bankruptcy protection.
Lehman is a member of the exchange and can issue and clear metals and plastics contracts. It can't trade on the floor of the exchange. The suspension on Select, the electronic platform, was confirmed by phone by LME spokesman Thom Lant in London.
Lehman's positions on the LME were "unlikely to be huge, probably not in the region of Barclays Capital or RBS Sempra," Robin Bhar, a strategist at Calyon in London, said by phone. Barclays and RBS Sempra are two of the largest of the 12 ring- dealing members of the bourse.
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