Source: London Metal Exchange
The London Metal Exchange (LME) today welcomes its previously outsourced technology team in-house.
The insourcing of IT is an indication of the function's increasing importance to the LME and the integral part it will play in the delivery of strategic initiatives, including the launch of LME Clear in September 2014.
"We are very pleased to welcome the IT team to our business", said Garry Jones, LME CEO. "Our decision to bring technology in-house is an indication not only of the growth of the business over the last few years but of our future development as we strengthen and enhance our technology offering."
On 1 May, LME welcomes more than 100 new employees. The technology team is led by Robin Paine, Chief Technology Officer of the LME.
From 28 April 2005 to 30 April 2014, the LME outsourced its technology to Xchanging PLC.