London Metal Exchange (LME) trading fees fell 17% to $263 million in the first quarter of this year compared with the same period of 2020, a results update from parent Hong Kong Exchanges and Clearing (HKEx) showed. “LME trading fees dropped by $53 million... due to the 21% decrease in chargeable average daily volume of metals contracts traded in first quarter 2021,” said a release posted on HKEx’s website last week. “(This was) partly offset by a higher average fee per contract.” Traders who use the exchange attributed the drop in volumes and revenue to the closure of Europe’s last open-outcry trading floor, or ... (full story)