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Membership of the LME is on a corporate basis and through election by the board.
Applicants are required to comply with a number of financial and regulatory criteria and, in addition, a minimum shareholding of B shares is needed. The number of B shares required depends on the category of membership being applied for.
There are various categories of membership. These categories are divided between broker members and trade members. The criteria required for an applicant company to be successfully elected will vary according to category.
Broker members are those companies allowed to issue LME contracts - buying and selling material on behalf of their customers. Companies can become Ring Dealing or Associate Broker Clearing members if they are also members of the clearing house. Those companies who do not wish to clear business, may decide to become Associate Broker members.
Trade members are industrial or financial companies with a key presence and interest in the metals or plastics industries. Companies with operations in these areas may decide to become Associate Trade members. This category of membership is sought primarily to keep abreast of LME activities, its contracts and their development and news on the exchange itself. Membership of this category often serves as a stepping stone toward higher categories of membership that confer trading and clearing rights.
Companies that are also members of the clearing house can join as Associate Trade Clearing members to trade and clear their own business.
Please note that to view LME market data or to trade LME you do not need to become a member of the Exchange.
For more information on how to apply to become a member of the LME please contact membership@lme.com. For any other information contact us.
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