LME announces fee reductions, new minor metals services
LME announces fee reductions, new minor metals services
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The London Metal Exchange (LME) has announced new services and other changes resulting from its “strategic pathway” process, including some intended new contracts related to minor metals and alloys used in battery production.
“Looking ahead, we have an exciting delivery plan for 2018,” says Matthew Chamberlain, CEO of the LME. “One key area of expansion is our battery metals offering. We already list copper, nickel, aluminum and cobalt contracts, but we’ll be working with the battery and electric vehicle industries over the coming months to deliver new contracts such as lithium and cobalt sulphate, to bring price risk management to this rapidly growing market.”
“We believe that our delivery program for 2018 will fulfill our objectives to maximize trading efficiency, bring greater user choice and fairness and, above all, to support the physical market,” says Adrian Farnham, the CEO of the LME Clear division of the LME.
The LME introduced fee reductions for short-dated carry trades on Oct. 1, 2017, with medium-dated carry fee reductions to be implemented starting Nov. 1, 2017. The LME says it also may change its OTC (over-the-counter) booking fee in early 2018.
Also in the first half of 2018, the LME says it is likely to expand its membership to include brokers, “which will assist the growth of new products and open up access to the LME market,” says the exchange.
The LME says it is preparing to “launch a larger number of contracts in the second half of 2018 than ever before,” with four product groups to be expanded:
- a set of regional hot-rolled coil (HRC) steel contracts are being planned for the LME’s ferrous product list;
- regional cash-settled aluminum premium contracts and alumina contracts will be added to the LME’s aluminum offerings;
- the LMEprecious product line will grow to include gold and silver options, with platinum and palladium futures to follow; and
- the LME also plans to add new chemical cobalt, lithium, and potentially a chemical nickel contract.
The LME, which is owned by Hong Kong Exchanges and Clearing Limited (HKEX), says it will “continue to engage with its members and users regarding the provision of a separate dealer-to-client platform,” and that its central electronic trading platform will be enhanced sometime before 2021.
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Source: Recycling Today
LME announces fee reductions, new minor metals services
<![CDATA[The London Metal Exchange (LME) has announced new services and other changes resulting from its “strategic pathway” process, including some intended new contracts related to minor metals and alloys used in battery production. “Looking ahead, we have an exciting delivery plan for 2018,” says Matthew Chamberlain, CEO of the LME. “One key area of expansion is our battery metals offering. We already list copper, nickel, aluminum and cobalt contracts, but we’ll be working with the battery and electric vehicle industries over the coming months to deliver new contracts such as lithium and cobalt sulphate, to bring price risk management to this rapidly growing market.” “We believe that our delivery program for 2018 will fulfill our objectives to maximize trading efficiency, bring greater user choice and fairness and, above all, to support the physical market,” says Adrian Farnham, the CEO of the LME Clear division of the LME. The LME introduced fee reductions for short-dated carry trades on Oct. 1, 2017, with medium-dated carry fee reductions to be implemented starting Nov. 1, 2017. The LME says it also may change its OTC (over-the-counter) booking fee in early 2018. Also in the first half of 2018, the LME says it is likely to…