The London Metal Exchange (LME) is the futures exchange with the world’s largest market in options and futures contracts on base and other metals.
The London Metal Market and Exchange Company was founded in 1877, but the market traces its origins back to 1571 and the opening of the Royal Exchange
, London. Before the exchange was created, business was conducted by traders in London coffee houses using a makeshift ring drawn in chalk on the floor.
At first only copper was traded. Lead and zinc were soon added but only gained official trading status in 1920. The exchange was closed during World War II and did not re-open until 1954. The range of metals traded was extended to include aluminium (1978), nickel (1979), tin (1989), aluminium alloy (1992), steel (2008), and minor metals cobalt and molybdenum (2010). The exchange ceased trading plastics in 2011. The total value of the trade is around $US 11.6 trillion annually.
The City of London constituted most of London from its settlement by the Romans in the 1st century AD to the Middle Ages, but the conurbation has since grown far beyond its borders.
|VIEW THE CITY OF LONDON AREA IN THE 1750s|
The 1750 Rocque map is bounded by Sudbury (NW), Snaresbrook (NE), Eltham (SE) and Hampton Court (SW).
Outside these bounds, the 1750 map does not display.
|VIEW THE CITY OF LONDON AREA IN THE 1800s|
The 1800 mapping is bounded by Stanmore (NW), Woodford (NE), Bromley (SE) and Hampton Court (SW).
Outside these bounds, the 1800 map does not display.
|VIEW THE CITY OF LONDON AREA IN THE 1830s|
The 1830 mapping is bounded by West Hampstead (NW), Hackney (NE), Greenwich (SE) and Chelsea (SW).
Outside these bounds, the 1830 map does not display.
|VIEW THE CITY OF LONDON AREA IN THE 1860s|
The 1860 mapping is bounded by Brent Cross (NW), Stratford (NE), Greenwich (SE) and Hammermith (SW).
Outside these bounds, the 1860 map does not display.
|VIEW THE CITY OF LONDON AREA IN THE 1900s|
The 1900 mapping covers all of the London area.
As the City's boundaries have remained almost unchanged since the Middle Ages, it is now only a tiny part of the metropolis of Greater London, though it remains a notable part of central London. It holds city status in its own right and is also a separate ceremonial county.
It is widely referred to as 'The City' (often written on maps as City
and differentiated from the phrase 'the city of London') or 'the Square Mile' as it is 1.12 square miles in area. These terms are also often used as metonyms for the United Kingdom's financial services industry, which continues a notable history of being largely based in the City.
The local authority for the City, the City of London Corporation, is unique in the UK and has some unusual responsibilities for a local council, such as being the police authority. It also has responsibilities and ownerships beyond the City's boundaries. The Corporation is headed by the Lord Mayor of the City of London, an office separate from (and much older than) the Mayor of London.
The City is a major business and financial centre, ranking as the world's leading centre of global finance. Throughout the 19th century, the City was the world's primary business centre, and continues to be a major meeting point for businesses.
The City had a resident population of about 7000 in 2011 but over 300,000 people commute to it and work there, mainly in the financial services sector. The legal profession forms a major component of the northern and western sides of the City - especially in the Temple and Chancery Lane areas where the Inns of Court are located, of which two—Inner Temple and Middle Temple - fall within the City of London boundary.