Nickel Scandal Rocks JPMorgan and London Metal Exchange
Trafigura's CEO, Jeremy Weir, has criticized the London Metal Exchange's (LME) nickel contract, stating that it is "not fit for purpose" due to its lack of transparency and liquidity. Weir also called for the LME to improve its contract design and for the exchange to work more closely with industry players to ensure that its contracts meet the needs of the commodities trading market.