UPDATE 1-U.S. CFTC defers LME request due to warehousing concerns

April 9, 2015 7:40 PM

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WASHINGTON, April 9 (Reuters) - The U.S. derivatives regulator has deferred a request by the London Metal Exchange to let U.S. customers trade on its electronic platform amid lingering concerns about backlogs in its aluminum warehouses in Detroit and other locations.

In a March 24 letter to the exchange operator seen by Reuters on Thursday, the Commodity Futures Trading Commission said that while the LME "has made progress in reducing queues," the staff still feels that "more progress is needed, especially with respect to actual queue reduction in Detroit."

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