logo
Share SHARE
FONT-SIZE Plus   Neg

Xchanging In Discussions Regarding London Metal Exchange Contract

Xchanging plc (XCH.L) announced it is in discussions with The London Metal Exchange that will lead to modification or termination of its existing contractual relationship with the Metal Exchange. Xchanging said the current situation reflects the recent change in ownership of the London Metal Exchange. The contract carries a minimum notice period of 12 months.

The company believes that cost savings in the business combined with other business initiatives will contribute materially to offsetting any loss of profit arising from the modification or termination of the contract.

The contract to provide technology services, which renewed on 1 January 2012, was for a minimum of three years, with a two year notice period after the first year. Under the terms of the contract, if there is a change of control at the London Metal Exchange, it is entitled to terminate the contract early with a 12 month notice period.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Tesla Motors Inc. voluntarily recalled more than 7000 charging adapters. The company said these adapters of Nema 14-30, 10-30 and 6-50 are sold separately as accessories. Earlier in November, two customers had complained about overheating issue of Nema 14-30 charging adapters. Tesla confirmed in its recall communication that there were no other similar incidents or reports of injuries or proper Sony announced Project Field, a new play way to bring card games to life, along with a host of smartphone games at an event in Japan, aiming to accelerate mobile drive. Project Field is a Japan-only card collection platform where actual physical cards will work with a smartphone app. The first title to be announced is based on Yo-kai Watch for mobile. There is no news about an international releas Shares of Credit Suisse Group AG gained around 8 percent in the morning trading in Zurich after the Swiss banking giant raised its group cost savings target, and also confirmed its medium-term 2018 pre-tax income target.
comments powered by Disqus
Follow RTT