Bank of England and FCA to examine suspension of market at start of Russia’s invasion of Ukraine
The UK’s financial regulators will investigate the London Metal Exchange’s handling of a week-long suspension of trading in nickel amid chaotic conditions at the start of Russia’s invasion of Ukraine.
The LME suspended trading in nickel, a crucial material for electric car batteries, on 8 March after prices doubled over the course of a day to a record $100,000 (£76,200) a tonne. Trading in the metal reopened after a week, on 16 March.