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Our contracts

LME contracts

LME contracts allow all those along the metal supply chain – from miners, smelters and fabricators, to merchants and consumers - to hedge against price risk. 

Futures
Futures contracts are purchases or sales of goods for a specified delivery date in the future at prices established today
LMEswaps
Hedge against the Monthly Average Settlement Price, all in one simple trade
LMEX
LMEX is an index based on the six designated LME primary metals contracts.
Options
Option contracts give trade hedgers and investors a flexible alternative to futures as a means of trading on the Exchange
TAPOs
TAPOs are Exchange cleared contracts based on the LME Monthly Average Settlement Price (MASP).
LMEminis
LMEmini's are small-sized, cash settled, monthly futures contracts for copper, aluminium and zinc.

Contract Lot size Futures Options TAPOs LMEswaps
LME Aluminium 25 tonnes Yes Yes Yes Yes
LME Aluminium Alloy 20 tonnes Yes Yes Yes Yes
LME NASAAC 20 tonnes Yes Yes Yes Yes
LME Copper 25 tonnes Yes Yes Yes Yes
LME Lead 25 tonnes Yes Yes Yes Yes
LME Nickel 6 tonnes Yes Yes Yes Yes
LME Tin 5 tonnes Yes Yes Yes Yes
LME Zinc 25 tonnes Yes Yes Yes Yes
LME Steel Billet 65 tonnes Yes      
LME Molybdenum 6 tonnes Yes      
LME Cobalt 1 tonne Yes      
LMEmini Copper 5 tonnes Yes      
LMEmini Alumnium 5 tonnes Yes      
LMEmini Zinc 5 tonnes Yes      

All LME contracts are traded in lots - which vary in size from 1 to 65 metric tonnes depending on the underlying metal - and priced in US dollars. The LME publishes official exchange rates to enable settlement in pound sterling, Japanese yen and Euros, as well as US dollars.

What are LME futures and options?
Find out more about how the LME's futures and options contracts work in part 1 of this video series.

Contract FAQs

As the client of an LME member what contract will I recieve when I trade with them?
What is the difference between an LME contract and an OTC contract?
What happens to client money in a default?
What is the difference between Segregated and Non-Segregated Accounts?
Who is responsible for regulation of LME members?
 
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