LME confirms Barclays to cease floor trading

LONDON Thu Nov 22, 2012 5:32am EST

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LONDON Nov 22 (Reuters) - Barclays will cease floor trading operations on the London Metal Exchange (LME) with immediate effect, the exchange said on Thursday.

"Barclays Bank has been re-categorised from a Ring Dealing Member (Category 1) to an Associate Broker Clearing Member (Category 2) of the London Metal Exchange," the LME said in a statement.

Category 2 membership allows electronic and telephone trading, but not open outcry operations on the LME floor.

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