- Alcoa (NYSE:AA) challenges the CFTC's authority to intervene in a contentious overhaul of the London Metal Exchange's warehouse policy that has caused a big drop in aluminum prices.
- In March, the CFTC deferred a decision about the LME's 2012 application to be registered as a "foreign board of trade," telling the exchange it should do more to address concerns about long waiting times; Alcoa has questioned whether the agency has the legal authority to intervene, and today it filed a request under the Freedom of Information Act to find out what had caused the CFTC to delay its decision on the LME.
- Related aluminum ETFs: JJU-OLD, FOIL