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Fees

LME fees are set annually by the Exchange and agreed by its Board. All fees are standard across membership category or service and apply only to LME members and users of LME systems. Fees charged by LME members to clients are subject to normal commercial negotiation. These fees are effective from 1 January 2015.

Transaction Fees

Futures, Carries, Traded options and TAPOs
(Per leg per side1 per  lot)
Fees (USD)

Contract type

CategoryTrading

Clearing

 Total
Exchange

Ring/Kerb/Basis

0.25 0.25 0.50
Non-Ring 0.65 0.25 0.90
Give-up 0.25 0.25 0.50
Client Short dated carries2 0.25 0.25 0.50
All other 0.65 0.25 0.90
Option exercise/assignment

-

0.35 0.35
Cash settlement fee

-

0.08 0.08
Delivery fee

-

0.35 0.35

 

 LMEminis (per side per  lot)Fees (USD) 

Contract type

Trading

Clearing

Total
 All  - 0.25 0.25

Trading fees are invoiced on a monthly basis.

1 i.e. Each Member is charged for their side of the trade. For Client trades, the same member firm is charged for the registration of both sides of the trade. Therefore the per leg, per lot fee applicable would be double the stated amount.

2 Short-dated carries are where all carry dates are between the TOM date (next LME business day) and 15 calendar days forward from the TOM date inclusive.

Subscriptions and facilitation fees

The following annual membership fees apply:

Membership category Fees (USD)
Ring dealing members 95,000
Associate broker clearing members 90,000
Associate trade clearing members 30,000
Associate broker members 75,000
Associate trade members 4,000
Individual members 500
Honourary members

-

Companies considering obtaining LME membership should review the membership requirements and process for becoming a member.

LME Clear recurring facilitation feesFees (USD)
GCM clearing for other LME Exchange Members 25,000

 GCM clearing for clients2 

17,000
 ICM clearing only for itself  14,000
 ISA fee (per additional a/c)  1,700
OSA fee (per additional a/c)  5,000

2 Includes one House, one OSA and one ISA account

 One-off fees  Fees (USD)
LME application fee3  4,000
LME Clear application fee 1,700

3 A processing fee will be applied to all new membership applications at the point of receipt of the final pack and where successful, will be offset against the first year’s annual subscription fee.    

Other Charges

LME Clear Default  Funds & Margin LME Clear Deposit Rate (LMDR)4 

EUR

EONIA minus 35bps 5
GBP SONIA minus 30 bps 5
USD Fed Funds minus 20 bps 5
JPY TONAR minus 30 bps 5
Non-cash collateral  (on value of collateral lodged) 10 bps

4 LMDR is the rate at which LME Clear will pay or charge interest on credit cash balances
5 For EURO, GBP, USD & JPY the treasury charge will be calculated daily and applied to Members accounts monthly. If required, intra-month reviews of the spread may occur should market conditions or circumstances demand it. This information will be published on the LME Clear Website.     

Listed warehouse and LME warranted metal charges Fees (USD)

Annual warehouse listing fee (per warehouse company, per good delivery point)

5,000
Additional warehouse(s) 4,000
Stock levy (of the daily rent collectable on LME warrants)6 1.1%  

6 The calculation will be the total reported tonnage (cancelled plus live warrants) on each day, multiplied by the published rent rate for each warehouse, multiplied by 1.10 per cent. Stock levies will continue to be invoiced on a half-yearly basis: the stock levy for 1 January 2015 to 30 June 2015 will be invoiced in early July 2015 and the stock levy for 1 July 2015 to 31 December 2015 will be invoiced in early 2016.    

The settlement of LME contracts is facilitated through the exchange of warrants using LMEsword. The following fees and charges apply to transactions on LMEsword by member firms.

LMEsword depository charges (per warrant)

Fees (USD)

Lodgement of LMEsword warrants

-

Withdrawal of LMEsword warrants

3

Safekeeping LMEsword warrants in depository (per calendar day)

0.01

Ex-cleared transfers

3

LMEsword fees are invoiced monthly.

LMEsword depository chargesFees (USD)

Annual Fees

 

5,000
Administration fees Non-member account holder 8,200
Non-member remote participant account holder  4,100
LME brand initial listing charge   Fees (USD)
All brands of metal, except steel billet 65,000
Steel billet

-

Applications are subject to the relevant guidance notes. Fees are not refundable for unsuccessful or lapsed applications

LSA charge Fees (USD)
Per listed assayer 2,500

Members wishing to distribute market prices to clients via the LMEselect

 Distribution of market prices to clients via LMEselect's APIFees (USD) 
 Per client per month  25
     up to a maximum of  7,500

Prices are all exclusive of any applicable VAT.

LME Clear will pass through all third party transaction fees to members at cost.

A complete listing of fees and levies is available. Fees and levies may be subject to VAT and other applicable taxes. For more information please contact us to discuss your enquiry.