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Jane Street sues LME for $13.5 million over nickel trade cancellations

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US trading firm Jane Street Global Trading has launched a USD13.5 million lawsuit against the London Metals Exchange (LME) following the cancellation of Nickel trades in March, according to a report by The Financial Times.

US trading firm Jane Street Global Trading has launched a USD13.5 million lawsuit against the London Metals Exchange (LME) following the cancellation of Nickel trades in March, according to a report by The Financial Times.

Jane Street’s move comes a day after a similar action by US hedge fund Elliott Management came to light with the fund seeking $456 million from LME.

Other hedge funds are also reported to be considering submitting claims for a judicial review of LME’s decision to halt trading on 8 March when nickel prices doubled to $100,000 in a matter of hours.

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