LME Clear has been EMIR compliant since it launched in 2014. There is no limit to the number of client accounts a member may operate and all accounts will be capable of porting, subject to the appropriate criteria being met.
House account
Members can record positions and collateral attributable to their proprietary trading activities:
- house business only
- margin net
- accounting for interest posting
Omnibus client account
Members can record positions and collateral attributable to trading activities conducted with or for clients, where the member has chosen not to segregate by reference to individual clients. Each omnibus client account can include multiple clients:
- margin net
- positions co-mingled
- collateral co-mingled
- excess - not required to be held at CCP
- portability - yes, subject to criteria
Individual segregated client account
Members can record positions and collateral attributable to trading activities conducted with or for specific clients. Only one client may be allocated to any specific individual segregated client account. Members can create TTCA and CASS specific ISAs.
- margin net
- positions by client
- collateral by client
- excess - required to be held at CCP
- portability - yes.
LME Clear account structure
Please see below the account structure for LME Clear. As new requirements and/or regulation becomes available, LME Clear will look to extend its account offering as required.
