How do you become a member of LME?
Members wishing to issue LME registered client contracts to customers will need to demonstrate applicable regulatory authorisations. The LME operates three trading venues, an electronic trading platform (LMEselect), an open outcry trading floor referred to as the Ring, and the inter-office or telephone market.
Who can trade on LME?
1) A large number of participants access our markets as clients of LME members. Non-members wishing to trade LME contracts can do so through Category 1, 2 and 4 Members (and their associated ISVs). 2) Alternatively, participants can access LME markets by becoming members themselves.
Why did LME shut down?
The LME resumed nickel trading contracts at 8 a.m. London time after extreme price volatility prompted a rare market shut down last week. A technical glitch shortly thereafter prompted the exchange to temporarily halt the market once again, before trading reopened at 2 p.m. London time.
How do LME contracts work?
The LME is a terminal market whereby every futures contract anticipates that a delivery will take place. While the majority of contracts are for financial purposes and are cancelled out by equal and opposite contracts, there is a physical commitment behind the original contract.
What is LME registered?
In order to guarantee quality and specification of delivered metal, the LME reviews, vets and approves individual metal producers to register their production as an LME brand.
What is ring trading LME?
Ring trading is the method by which certain types of investment business is conducted at the London Metal Exchange (LME), where trading activity occurs in five-minute intervals known as “rings” within a six-meter diameter circle (a particular type of trading pit) with two large display boards that show current prices.
How can LME cancel trades?
a) The Member requesting a trade cancellation must contact the LME’s Trading Operations team by telephone on +44 (0) 20 7113 8200 within 15 minutes of the trade and must confirm by email to: [email protected] that the input was an error.
Is LME nickel trading?
LONDON, March 25 (Reuters) – London Metal Exchange (LME) three-month nickel is currently trading at $35,150 per tonne. This is in itself something of an achievement for the exchange.
What is LME 3 month contract?
LME contracts The 3-month LME rolling contract (contract with the 3-month prompt date) is the most liquid contract on any given trading day – it’s the anchor price for the market. Most participants tend to “trade out” of the 3-month contract and “roll” into a contract with the desired prompt date.
What is LME 3 month?
LME cash contracts are for settlement or delivery two Business Days forward from the trading day. A 3 Month price represents the price agreed to settle or deliver material 3 months from the time the price is agreed.
What is LME warehouse?
It simply authorises warehouse companies and the warehouses they operate to store LME-registered brands of metal, on behalf of warrant holders, and issue LME warrants through their London agent for material delivered into their approved warehouses.
How many types of traders are there?
Types of traders include the fundamental trader, noise trader, and market timer. Each type of trader appeals to investors differently and is based on varying strategies. Understanding your own style of trading can help make better-investing decisions.
How can non-members access the LME markets?
A large number of participants access our markets as clients of LME members. Non-members wishing to trade LME contracts can do so through Category 1, 2 and 4 members (and their associated ISVs) with each category offering different levels of services in respect of trading and clearing. Contact us
What LME products are available on lmeselect?
LME Zinc LME Nickel LME Lead LME Tin LME Aluminium Alloy LME NASAAC LME Aluminium Premiums LME Alumina (Platts) LME Aluminium UBC Scrap US (Argus) Ferrous Back All ferrous Our ferrous contracts are tradable on LMEselect and via the inter-office market out to 15 months.
How do I trade LME and lmeprecious?
LMEprecious LMEprecious members may trade LME Gold and LME Silver contracts on LMEselect or the inter-office market, on behalf of themselves or on behalf of clients. RIBs Registered Intermediating Brokers (RIBs) are brokers which can arrange LME and LMEprecious trades between market counterparties, who can be LME members or clients.
How can non-members trade LME contracts?
Non-members wishing to trade LME contracts can do so through Category 1, 2 and 4 members (and their associated ISVs) with each category offering different levels of services in respect of trading and clearing. Contact us For further information please email our Market Access team.