London Metal Exchange calls time on drinking at work in bid to reform its brash, male-dominated culture
The London Metal Exchange has called time on drinking at work as it seeks to enter the modern age.
Traders at the world’s biggest marketplace for industrial metals have been banned from drinking alcohol during office hours.
The 142-year-old exchange is one of the last places where noisy face-to-face trading occurs.
Thirsty work: Traders at the London Metal Exchange, the world’s biggest marketplace for industrial metals, have been banned from drinking alcohol during office hours
But it is trying to reform its brash, male-dominated culture after metals trader Gerald Group hosted an event in Mayfair’s Playboy Club.
LME members have a reputation for daytime boozing, but the exchange launched its first code of conduct in April, and appointed ex-banker Gay Huey Evans as its first female chairman in May.
Traders, who hold auctions on a ring of red sofas and help set global prices for metals like copper and aluminium, will now have to stay sober all through the working day.
A spokesman said: ‘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.’