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Trading venues and systems

The LME provides the market with three transparent and regulated platforms for trading industrial metal contracts:

The Ring

11.40 - 17.00

The Ring, our open-outcry trading platform, is central to the process of price discovery. Prices are discovered during a highly liquid five-minute ‘Ring’ session for each metal. These prices are used by the world over as the global reference and in the setting of the LME Official Settlement Price, the price at which all LME futures contracts are settled.

LMEselect

01.00 - 19.00

LMEselect is our highly liquid electronic platform for the trading of all LME contracts. Offering low-latency access via proximity hosting and rich multi-order type functionality, LMEselect is available to members and their clients (via member sponsored access).

Inter-office telephone market

24 hours

The Exchange also supports an inter-office telephone market between LME members, which operates 24 hours a day. All LME contracts can be traded over the telephone.