13th July 2009, London - The London Metal Exchange (LME), the world’s premier exchange for base metals, steel billet and plastics, has completed a consultation with members on proposals to change the trading platforms supporting LME plastics contracts.

Under the proposals, the Exchange’s plastics futures for linear low density polyethylene and polypropylene would be traded solely on the Exchange’s electronic platform, LMESelect, and on the inter-broker telephone market. Trading in the open outcry Ring would likely cease in February 2010.

Martin Abbott, Chief Executive of the London Metal Exchange comments: “Trading in the LME plastics contracts has been concentrated on LMESelect and the telephone markets. The decision to focus liquidity in these trading venues is a reflection of the way in which the industry trades.”

Proposals and member responses are currently being reviewed by the LME Executive Committee and will be put to the Board.

For further information or to speak to an LME spokesperson, please contact:
Stephen White
Business Manager Corporate Affairs
t. +44 (0)20 7264 1701 / +44 (0)7980 661 724
e. stephen.white@lme.com

About the London Metal Exchange
The London Metal Exchange is the world's premier base metals market. It offers futures and options contracts for aluminium, copper, tin, nickel, zinc, lead, aluminium alloy and NASAAC, steel billet, plastics and soon cobalt and molybdenum. Last year, turnover for the Exchange was $10.24trillion and the Exchange currently has 5.13m tonnes of metals on warrant in 516 warehouses across 38 locations globally.
http://www.lme.com/