RNS20 Mar 2015 14:48
The London Stock Exchange has suspended the membership of bankrupt broker Hume Capital Securities (LSE: HUME.L - news) after defaulting on unsettled exchange market contracts. The broker, which is an adviser to listed firms including Great Western Mining , LPA Group (LSE: LPA.L - news) , Orogen Gold and Coral Products (LSE: CRU.L - news) , called in the administrators on Monday and the LSE suspended its membership on Thursday evening after monitoring Hume's outstanding on-exchange trades.
The LSE said that in light of information it has since gleaned, it now considered that Hume Capital was "unlikely to be able to fulfil its obligations in respect of its approximately 130 unsettled exchange market contracts".
Therefore, under the exchange's rule, the broker was declared a defaulter.