Second Wednesday of maturity month, subject to trading regulations
Index point value basis
Average of the third Wednesday priced for the first three qualifying trading months of the constituent metals
Maturity months
Monthly for twelve months, unless the contract is made after the Last Trading Time (see settlement basis below) for the calendar month on which the contract is made, in which case, eleven months
Settlement basis
Cash settlement based on the difference between settlement price of the Index on the prompt date and the value of the Index in the contract, multiplied by the contract size
Cash settlement
The settlement business day following the prompt date
This is a summary of the contract specifications. For full contract specification details, please refer to the LME Rulebook which details the complete rules and regulations of LME contracts.
LME contracts may only be offered or sold to United States foreign futures and options customers by firms registered with the Commodity Futures Trading Commission (CFTC), or firms who are permitted to solicit and accept money from foreign futures and options customers from trading on the LME pursuant to CFTC Rule 30.10.
Arbitration
In the case of unresolved disputes, arbitration is effected via the LME arbitration procedure, and/ or by other body agreed by the parties.
LME Mini & LMEX Contract Specifications Effective from August 2009 DOWNLOAD( KB )
