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London Metal Exchange bans daytime drinking for traders

London Metal Exchange
Traders on the floor at the London Metal Exchange

The London Metal Exchange is banning floor traders from drinking alcohol during the working day as part of a new "zero tolerance" policy that could result in fines or even bans for breaking the rules.

At a meeting on Thursday, the LME told its open-outcry dealers it expected them to apply a zero-tolerance alcohol policy for floor traders, who are responsible for setting global benchmark prices for industrial metals such as copper and aluminum, according to people who did not want to be identified. The exchange could impose fines and trading bans for breaches of the rules, they said.

An LME spokesman said: “The LME has broad powers under its rulebook to ensure fit and proper behaviour on the Ring...

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