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London Metal Exchange will reopen its open outcry trading floor By Reuters

© Reuters. FILE PHOTO: Traders work on the floor of the London Metal Exchange in London, Britain, September 27, 2018. REUTERS/Simon Dawson/File Photo

LONDON (Reuters) – The London Metal Exchange said on Tuesday it will reopen its open outcry trading floor on Sept. 6, but added that it also believes electronic trading is the way forward.

The floor was closed in March 2020 for the first time since World War II to allow for the social-distancing needed to deal with COVID-19, silencing its red ring of seats and the theatre of arcane hand signals and frenzied shouting by traders.

In January, the world’s oldest and biggest marketplace for industrial metals launched a consultation process on closing Europe’s last open-outcry trading floor, arguing that the forced migration to digital trading was a success.

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