ICAP to close LME base metals broking business -sources

LONDON, Dec 11 (Reuters) - Major broker ICAP (LSE: IAP.L - news) is exiting its base metals business on the London Metal Exchange (LME) as part of wider restructuring, industry sources said on Thursday.

ICAP, the world's largest interdealer broker, has been a Category 2 member of the LME since January 2009, which allows electronic and telephone trading, but does not include activity in the open-outcry "ring".

ICAP, which has offered LME options and futures trading and clearing services, expanded the business with a New York LME desk in 2009.

"ICAP are exiting from LME broking, it looks like it's part of their restructuring," one of the sources said.

ICAP and the LME declined to comment.

(Reporting by Clara Denina and Eric Onstad; Editing by Veronica Brown and Susan Thomas)