London Metal Exchange calls time on traders boozing

London (AFP) –


The London Metal Exchange has ordered traders to refrain from consuming alcohol prior to work, in a further move by Britain's age-old financial institutions to improve staff conduct.

Following a meeting late Thursday, the LME said floor traders, or "Ring" staff, would be affected by the change, seen as cracking down especially on traditional boozy lunches and client events.

"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," said a statement emailed to AFP on Friday.

The Exchange did not say how long before work staff should avoid alcohol.

It comes after the British capital's centuries-old insurance market, Lloyd's of London, said earlier this year that it would take strong action over sexual harassment in the workplace.

Meanwhile last month, the LME appointed Gay Huey Evans as the first female chair of the global centre for industrial metals trading.

She is due to begin her new role in December at the LME, which is part of the group that runs the Hong Kong Stock Exchange, and which has been operating since 1877.