Dry Workdays To Be Introduced For Metal Traders—Report – Market News Updates
Market News Updates

Dry Workdays To Be Introduced For Metal Traders—Report

The London Metal Exchange (LME) has become one of the latest companies to have introduced booze ban. The firm said that none of the staffs working on their trading floor will be allowed to drink during their working hours.

About 120 people ranging from the traders to the clerks working in nine various firms in Ring will be affected by this ban. A similar rule on drugs and alcohol was introduced earlier in 2019 by the Lloyd’s in London and the current move by LME follows it. An LME spokesperson said that the high standards of the members are appreciated by LME and a general position has been formalized which says that Ring-based people should stay away from consuming alcohol before conducting any businesses. The current decision is not found to have been based on any incident in particular. However earlier in 2019, the firm had faced some criticisms when some cocktail party was hosted by one of their clients at the Playboy club at Mayfair.

Gay Huey was appointed in May as their first female chairman. Nine firms which are working on trading floor are consulting with LME to make decisions on how to effectively enforce new rules which will not get restricted to the 9-5 working days. The head of public policy of CIPD’s human resources trade body, Ben Willmott said that it was quite common for companies to have policies to regulate the amount of alcohol consumption during the working hours and this was prevalent even in non safety-critical companies.

A policy can allow for appropriate drinking during lunchtime hours and it need not be a policy of zero-tolerance and hence there should be no ambiguity as far as the policy is concerned. Mr. Willmott said that having a rule on drinking helped the managers in raising an issue if in case a problem was encountered and also to seek the available support.

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