LONDON, April 10 (Reuters) - The London Metal Exchange (LME) has fined member BNP Paribas 120,000 pounds for violations of the exchange's rules relating to risk-management systems, the exchange said
LME Fines BNP Paribas £120,000 for Risk Management Rule Violations
BNP Paribas Penalized for Risk Management Failures
Details of the Fine
LONDON, April 10 (Reuters) - The London Metal Exchange (LME) has fined member BNP Paribas 120,000 pounds for violations of the exchange's rules relating to risk-management systems, the exchange said on Friday.
Nature of the Violations
Failure to Submit Commodity Position Reports
The exchange, the world's oldest and largest market for industrial metals, said that the bank had failed to submit timely commodity position reports several times in September 2024.
Failure to Submit Options Volatilities Data
It also failed to submit options volatilities data during 16 business days in the same month.
About the London Metal Exchange
Ownership and Background
The LME is owned by Hong Kong Exchanges and Clearing Ltd.
Reporting Credits
(Reporting by Eric OnstadEditing by David Goodman)
