The London Metal Exchange today announced three new membership approvals by the Exchange following a board meeting on the 8 May.

ICAP Securities Limited has been approved as an Associate Broker Clearing Member (ABCM), category 2. The firm’s membership will be activated in due course.

The Bank of Nova Scotia has been approved as an Associate Broker Member (ABM), category 4. The firm’s membership will be activated in due course.

Approval has also been given to Ambro Limited as an Associate Trade Member (ATM), category 5.

Commenting on the approvals, Emma Davey, LME business manager, membership and business development said:

“The Exchange is delighted to approve these companies for membership, which will further develop the strong membership base at the LME. We look forward to working with them in the future”.

Notes to editors:

• The LME is the world’s premier non-ferrous metals market and achieved volumes of almost 93 million lots in 2007, an increase of 7% on 2006 figures and equivalent to $9,500 billion in monetary terms.
• Trading at the LME in non-ferrous metals, steel and plastics takes place across three platforms: through open-outcry trading on the “Ring”; through an inter-office telephone market and through LME Select.
• On 25 February 2008 the Exchange launched Mediterranean and Far East steel billet futures contracts.