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Frequently asked questions

All frequently asked questions

How are LMEswaps priced?
What is the Monthly Moving Average Price (MMAP)?
What is the Notional Average Price (NAP)?
What is the Month Average Settlement Price (MASP)?
How do LMEswaps differ from OTC swaps?
How are LMEswaps margined?
How do LMEswaps benefit me?
Who would be interested in using LMEswaps?
How do I trade LMEswaps?
Members have recently invested in back office upgrades for Synapse. Will the LME’s clearing house require a similar investment from clearing members?
Can a stand-alone LME CCP compete on costs, service or counterparty credit risk with a clearing house dealing with multiple asset classes?
What is the impact of the current bid process surrounding the LME?
Will a separate LME default fund require additional contributions from clearing members?
Will members lose any cross-market margin benefits?
What will the capital, insurance, member and default requirements be? Similarly, what are the levels and value of coverage against any member default?
Is there a difference between LMEminis and LME-SGX Metal Futures?
What are the fees for trading LMEminis?
What is the impact on LME members who do not want to use the OTC gold clearing?
How do participants get access to LMEsmart?
What is LMEsmart?
Do participants need access to LME’s system?
Do participants in the OTC gold clearing service have to be members of the LBMA?
Do participants who want to use the OTC gold clearing services have to become members?
What is XML?
What are the technical requirements to access the LME XML next day feed?
What is the time delay of the next day data?
How do I subscribe to the LME XML next day feed?
Do you provide training on how to understand LME data?
Do you provide support on how to understand XML?
What are the cancellation procedures once I have subscribed to the LME XML Next day feed?
Do I need a license to distribute LME data within my company?
How can I be licensed as an LME next day data distributor?
Can I display LME next day data on my website?
What data is available on the LME XML next day feed?
Do you offer a free trial?
What is the cost of the LME XML next day feed?
Can I get a certificate at the end of a training course?
When is the deadline for payments for training courses?
Will I receive any materials after attending the training courses?
How can I receive news about training courses?
Who should I contact if I have any questions regarding training courses?
Do you have any audiovisual material available?
Where can I find more information about the LME?
Why do I have to pay VAT on your training courses in London when I’m from abroad?
Where can I check dates and locations of training courses?
Do you offer online training courses?
I am registered for a training course but I can’t attend, can my colleague attend in my place?
Who should I contact to cancel a registration for a training course?
What is the cancellation policy when booking a training course?
Can you send me the materials prior to the training course?
Can you send me the attendee list for the training course I am attending?
What is the programme for the training course I am attending?
Which language are the training courses conducted in?
Is accommodation included in the price of a training course?
Is lunch included when I book a training course?
What is the dress code when I attend a training course?
Who is the trainer for my course?
How can I pay for a training course?
How do I book an LME training course?
What benefits will shareholders and clearing members receive from an LME-owned clearing house?
Why has the LME decided to create its own clearing house?
How will members be consulted during the implementation of an LME clearing house?
Will the lack of risk diversification caused by a single exchange, single CCP model class create extra risk for the market?
Will margin requirements be covered by a broad range of currencies and collateral including physical material, government and corporate debt and financial institution guarantees?
What will be the fees structure of the LME’s clearing house?
Are systems available that meet the needs of an LME clearing house?
Is the LME capable of delivering a new clearing house?
How long will it take to build and implement an LME-owned and -operated clearing house?
How much will the creation of an LME clearing house cost LME clearing members and shareholders?
Where will an LME clearing house fit into the LME’s governance structure?
Who can trade LMEminis?
What are the LME margin requirements?
Where are the delivery locations for the LME Steel Billet contract?
What metals are traded on the LME?
What are the benefits for a producer to register their brand for LME delivery?
How do I register a brand on the LME?
What are the advantages for a producer to list their steel billet brands?
What is the significance of billet in relation to rebar?
How are LME Steel Billet futures contracts traded?
I have some non-ferrous metal/steel and would like to buy or sell on/to the LME.
Why the LME for steel billet futures?
Why is the US steel industry important?
What is the difference between a Cash, 3 month, 15 or 27 month price?
How do payments and receipts of variation margins differ between LME ‘parent’ metal and LMEmini contracts?
Do I need to be a member of the LME to be a LMEsword user?
How do LMEminis differ from existing LME contracts?
How are LMEminis traded?
What is a Futures or an Option Contract?
How will the contracts be traded?
Is molybdenum traded on the LME in 6 tonnes or 10 tonnes?
My organization does not use the LME specified grades. How can I use the LME marketplace?
Do futures contracts create cobalt or molybdenum price volatility?
Do futures contracts create steel price volatility?
How can I learn more about hedging on the LME?
Why is physical delivery important for minor metals futures?
Why is physical delivery important for steel futures?
Why the LME for minor metals futures?
What is the size of the minor metals market?
How do I find out about training courses run by the LME?
I wish to trade on the LME. How do I go about this?
What is an 'option'?
How do I find out more information about the LME dinner/LME week?
How do I access real-time/30 minute delayed market data from the LME?
How can I become a member of the LME?
Is it likely that there will be more warehouse locations introduced in the future?
Why billet?
What will a global LME steel billet contract mean for you?
I would like to view historical LME market data. How can I access this data?
How do I find out about training and educational courses run by the LME?
How is the settlement price established?
How do futures contracts help the minor metals industry?
What if I don’t want the cobalt in LME warehouses?
Why give speculators more access to minor metal markets?
How do I find information on product stored in LME warehouse?
What is the cost of storing material on LME warrant?
How do futures contracts help the steel industry?
How are the contracts margined and cleared?
What savings in initial margins are given by LCH.Clearnet on inter-commodity spread positions where one ‘leg’ is on the LME ‘parent’ contract and the opposite ‘leg’ is on the LMEmini contract for the same metal?
How are LMEmini and ‘parent’ metal contracts margined?
Who will be interested in these contracts?
How are the contracts delivered?
How has the Euro affected the LME?
 
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