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The process through which LME Plastics Futures Official Prices are set are transparent and straight-forward.
- Official Prices for Cash, Month 1 and Month 2 will be established on LMEselect using the Trade Weighted Average method. The Official Settlement Price will be the Official Cash Price resulting from the same calculation.
- The Official Price for each contract would only be one price and not a two-way bid/offer price.
- Provisional Official Prices will be available to LMEselect users and members will have five minutes to challenge these provisional prices.
- Official prices will then be distributed to the market via market data vendors.
- There will not be an Unofficial Price for Plastics.
- Provisional Evening Evaluations will be displayed on LMEselect and member users who will have fifteen minutes to challenge these.
- Final Closing Prices will be distributed to the market via market data vendors.
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