HKEX advisor Bagri urges LME market to accelerate reforms and promote cross-listing of contracts

Appleby Bagri, a senior advisor at the Hong Kong Exchanges and Clearing (HKEX), stated that the subsidiary London Metal Exchange and its users will need to take "disturbing" measures to achieve modernization more quickly. Bagri mentioned at the LME's annual dinner that modernizing is crucial for the long-term future, and the LME and its users should consider taking "controversial" actions to ensure they can remain profitable. Bagri indicated that these measures could include pushing for LME contracts to be cross-listed on other exchanges and expanding into other regions. Bagri is a veteran in the metal industry and served on the board of the Hong Kong Exchanges and Clearing for ten years until his retirement in April this year