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
Dealing a potentially fatal blow to a last-ditch effort by Republicans to repeal and replace Obamacare, Senator John McCain, R-Ariz., on Friday announced his opposition to a healthcare bill drafted by Senators Lindsey Graham, R-S.C., and Bill Cassidy, R-La. Reiterating his claim that Russian meddling in last year's election is a hoax, President Donald Trump has argued that the biggest influence on the election came from the media. Trump seemed to suggest in a post on Twitter on Friday that his victory in the presidential election came despite the media's... U.S. airlines collected a record $7.1 billion in revenue from fees for checked baggage and for changing or canceling reservations, reflecting a marked increase from 2010, according to a government report. The U.S. Government Accountability Office or GOA said in a report that U.S. airlines' revenue from these two fees increased to $7.1 billion in 2016 from $6.3 billion in 2010, in constant dollars.
comments powered by Disqus
Follow RTT