Ring Trading
Definition of 'Ring Trading'The method by which certain types of investment business is conducted at the London Metal Exchange (LME), where trading activity occurs within a six-meter diameter circle with two large display boards that show current prices. Each of the ring dealing members have a fixed seat within the ring, behind which an assistant is permitted to stand to pass orders to the ring dealing member, and to liaise with customers regarding market conditions. |
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Investopedia explains 'Ring Trading'Trading activity takes place in designated five-minute long periods known as "rings". Ring sessions are divided by trading instrument; for instance, steel trading takes place during the first session from 11:40am-11:45am (local time) and 1:05pm-1:10pm; and during the second session at 3:30pm-13:35pm. Ring trading at the LME occurs between 11:40am and 5:00pm; inter-office telephone trading is available 24 hours a day. |
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