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LME approves GF Financial Markets as category 1 member; Lee Kee Group and Vitol S.A as category 5 members

8 January 2014

The London Metal Exchange (LME) has approved GF Financial Markets (UK) Limited for category 1, Ring dealing membership. GF Financial Markets will be the LME’s first Chinese-owned Ring dealing member company.

Lee Kee Group and Vitol S.A have also been approved as category 5 associate trade members with immediate effect.

“We welcome GF Financial Markets to the Ring and look forward to expanding our client base further, particularly in the Asia region,” said Garry Jones, chief executive of the LME. “Our growing membership shows confidence in our markets and a growing interest in risk management from the global metals industry.”

A further notice will be issued to confirm the date that GF Financial Markets will commence trading and clearing.

Notes to editors

  • Category 1 or Ring dealing members are entitled to trade in the Ring, LMEselect and the telephone market. Ring dealing members can issue LME contracts – buying and selling material for their clients. They are also members of the clearing house.
  • Category 5 members or associate trade members have no trading right except as clients.

Contact details

For further information or to speak to an LME spokesperson, please contact:

Miriam Heywood
+44 (0)207 113 8538
miriam.heywood@lme.com

About the London Metal Exchange

The London Metal Exchange, a member of HKEX Group, is the world centre for industrial metals trading.

More than three quarters of global non-ferrous metals business is conducted on our three trading platforms: LMEselect (electronic), the Ring (open outcry) and the 24-hour telephone market. The world’s metal community uses the LME to trade futures and options, and to hedge against adverse price movements. Prices that are discovered on our markets are used as the global reference prices.

Participants can trade aluminium, aluminium alloycopper, tin, nickel, zinc, lead, molybdenum, cobalt, steel billet, steel rebar and steel scrap, and four regional aluminium premiums contracts. In 2015, 170 million lots were traded on the LME, the equivalent of 4 billion tonnes and $12 trillion in notional value.

At the close of the year, approximately 4.2 million tonnes of material was held on LME warrant in more than 600 storage facilities across 37 locations internationally.