July 29, 2016 / 9:21 AM / a year ago

LME says disciplinary action bought against Metro has been settled

LONDON, July 29 (Reuters) - The London Metal Exchange said on Friday a disciplinary action it had bought against Metro International Trade Services with regard to certain alleged breaches relating to warehousing has been settled.

“The LME and Metro agreed a settlement in which Metro agreed to pay $10 million (approximately 7.64 million pounds) inclusive of the LME’s costs without admitting or denying any of the alleged breaches or the matters that formed part of the investigation or the disciplinary proceedings,” the exchange said in a release.

Reporting by Pratima Desai; editing by Susan Thomas

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