Summary by Moomoo AI
hkex's wholly-owned subsidiary, London Metal Exchange (LME), and its clearing institutions LME Clear, have won the legal claims brought by Elliott and Jane Street. These claims stem from LME's decision to cancel nickel contract trades scheduled for March 8, 2022, which was communicated in June 2022. The High Court ruled in favor of LME on November 29, 2023, with Elliott subsequently filing an appeal. The Court of Appeal dismissed the appeal on October 7, 2024, once again affirming the legitimacy of LME's decision. hkex stated that they will continue to take measures to ensure the orderly operation of the market. The company will update shareholders and investors on any significant litigation developments as required and remind shareholders and potential investors to exercise caution when trading shares.
