London Metal Exchange bans traders from day drinking

The world’s largest metals market, the London Metal Exchange, has banned traders from drinking during office hours, joining other City firms in cracking down on the financial sector’s boozing culture.

(Photo: iStock)

The LME announced on Friday that it would impose a ban on open outcry traders’ alcohol consumption during office hours, hoping to “ensure fit and proper behaviour on the ring and ring dealing”.

The ring is the last open outcry trading forum in Europe, where members shout and use arcane hand signals to transfer information about buy and sell orders.

“The LME has broad powers under its Rulebook to ensure fit and proper behaviour on the Ring and Ring Dealing, and Members have policies and procedures in place regarding the behaviour of their staff while conducting business on the Ring,” said a spokesperson.

“The LME appreciates the high standards upheld by its Members, and has formalised the general position that Ring-based personnel should not consume any alcohol prior to conducting business.”

It is not the first city venue to restrict alcohol consumption. In 2017, insurer Lloyd’s of London also banned staff from drinking during office hours.

In 2018, staff at global ad agency group WPP were sent a note reminding them of changes to the company’s code of practice on drinking, which said that “no drinks trolleys should be provided nor alcohol consumed at desks or in work areas.”

Leave your reply

Most Recent Stories

The hottest restaurant openings for 2022

It’s set to be a bumper year for new launches, as the hospitality industry embarks on its journey to recovery. Here’s our pick of the best….

Diner sparks debate after attempting to tip waiter with Amazon gift card

A customer has gone viral online after they revealed their attempt to tip their waiter with a US£$25 Amazon gift card instead of using cash. It has sparked quite a debate about tipping etiquette. 

Designer brand Gucci to open cocktail bar in Florence

Italian designer brand Gucci is adding a cocktail bar to its luxury offering, the latest addition to Gucci Garden, located in the designer brand's Florence hometown.

Hospitality sector business investment up 9% in a year

Business investment in the hospitality industry rose by 8.9% on an annual basis in the third quarter of last year, according to ONS data.

3/4 people find the 'rules of wine' intimidating, study says

3/4 of people find wine etiquette intimidating, while 67% of respondents believe that there are right and wrong ways to drink wine, a new study has found.

Most Recent Stories

The hottest restaurant openings for 2022

It’s set to be a bumper year for new launches, as the hospitality industry embarks on its journey to recovery. Here’s our pick of the best….

Diner sparks debate after attempting to tip waiter with Amazon gift card

A customer has gone viral online after they revealed their attempt to tip their waiter with a US£$25 Amazon gift card instead of using cash. It has sparked quite a debate about tipping etiquette. 

Designer brand Gucci to open cocktail bar in Florence

Italian designer brand Gucci is adding a cocktail bar to its luxury offering, the latest addition to Gucci Garden, located in the designer brand's Florence hometown.

Hospitality sector business investment up 9% in a year

Business investment in the hospitality industry rose by 8.9% on an annual basis in the third quarter of last year, according to ONS data.

3/4 people find the 'rules of wine' intimidating, study says

3/4 of people find wine etiquette intimidating, while 67% of respondents believe that there are right and wrong ways to drink wine, a new study has found.