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canadian goose jacket LONDON, Oct 27 (Reuters) Attempts by the London Metal Exchange to claw back lost trading volumes with fee cuts could cost up to 15 percent of its revenues over 12 months if those volumes do not materialise, metal industry sources say. canadian goose jacket

canada goose store Fee cuts are expected to be a subject of hot debate during LME Week, an canada goose coats on sale annual gathering of the metal industry in London next week. canada goose store

canada goose clearance The 140 year old exchange has struggled to reverse declining volumes, partly triggered by a steep 31 percent average fee hike at the start of 2015, which persuaded many customers to switch to the over the counter (OTC) market. canada goose clearance

Volumes on the exchange fell 7.7 percent last year to 156 million lots compared with uk canada goose outlet 2015. The drop was also due to an economic slowdown in China, the world largest consumer of industrial metals, and subdued activity in the metals sector.

canada goose clearance sale The fee cuts are initially for a period of 12 months. canada goose clearance sale

canada goose think the Canada Goose online cost to the exchange will be in the region of $25 million to $30 million, a metal canada goose uk shop broker said, adding that it was a calculation based on LME volumes. canada goose

people have found a different, possibly cheaper way of doing canadian goose jacket something, it difficult www.canadagooseonline.info to change. It will also take time, so 12 months is canada goose uk black friday a canada goose coats good call.

Canada Goose Parka Other brokers suggested similar cost estimates, ranging from $25 million to $30 million. Canada Goose Parka

will be canada goose clearance sale up this year anyway because the fundamentals have been better, China demand was much stronger than people were expecting, a head of a commodity brokerage said, who put the cost at up to $25 million.

buy canada goose jacket cheap The LME revenues last year totalled more canada goose clearance than $200 million compared with nearly $225 million in 2015. That is roughly a 15 percent contribution to total cheap canada goose uk revenues of Canada Goose Jackets parent Hong Kong Exchanges canada goose uk outlet Clearing, which paid $2.2 billion for the LME in 2012. buy canada goose jacket cheap

wouldn be doing this if we didn expect to win canada goose some volume back, we buy canada goose jacket cheap are doing this because our members believe this will stimulate the market, buy canada goose jacket LME cheap Canada Goose CEO Matt Chamberlain told the Reuters Commodities Summit said in October.

never guided internally or externally that we going to get all the revenue back. That would be an absolute best case scenario.

canada goose deals Sources said the success of the fee cuts would be judged on the basis of the cost being offset by rising volumes that yielded revenues of about $15 million. canada goose deals

canada goose black friday sale The LME cut fees for short dated trades, those between Canada Goose Parka one and 15 days, from Oct. 1. It will reduce Canada Goose Outlet fees for medium dated trades, where all legs fall within 35 days forward, from Nov. 1. canada goose black friday sale

cheap Canada Goose is a very welcome fee Canada Goose Online reduction Canada Goose sale for the clients of the exchange, said Simon van den Born, global head of metals at Marex Spectron. challenge will be to bring clients back, having forced so much change in the industry through the pricing policy, we hope there has not been too much structural change. cheap Canada Goose

buy canada goose jacket Structural change is a reference to volumes moving to the OTC market, which sources say could reverse when new European Union rules known as MiFID II become effective in January. buy canada goose jacket sale canada goose jacket

Canada Goose Outlet MiFID II is aimed at boosting transparency by encouraging OTC trade to move on exchange, which will help boost volumes and revenues and offset losses from canada goose black friday sale the fee Canada Goose Coats On Sale cuts. Canada Goose Outlet

Canada Goose sale Chamberlain also said at the uk canada goose Reuters summit that a fee canada goose store for referencing LME prices would help compensate for loss of revenues from the fee cuts. Canada Goose sale

canada goose coats aiming to be back at our historical levels of revenues within two years, with the combination of volumes coming back, the canada goose factory sale OTC booking fee and new initiatives. (Reporting by Pratima Desai; Editing by Veronica Brown and Edmund Blair) canada goose coats.