LONDON (Reuters) – The London Metal Exchange (LME), which faces lengthy delays to its trading technology revamp, said on Thursday that it had appointed a chief information officer at NatWest Markets, Alistair Baldwin as LME’s new chief technology officer.

The LME is the world’s largest and oldest forum for metals. Its three-year-long flagship project to overhaul its electronic trading system faces up to a year of further delays and mounting costs, four people with knowledge of the matter told Reuters in October.

From Jan. 15, Baldwin will join the LME, succeeding Mario Quonils who has decided to relocate back to Germany, the LME, owned by Hong Kong Exchanges and Clearing, said in a statement.

“Alistair joins the Group at an exciting time, as the deployment of LMEselect v10 marks the beginning of the LME’s journey as a trading technology developer and provider,” Richard Leung, HKEX Group chief information officer, said in the statement.

“Alistair’s knowledge and expertise in running in-house technology platforms will prove invaluable in this regard,” he added.

(Reporting by Polina Devitt; editing by Tomasz Janowski)

Copyright 2023 Thomson Reuters.

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