What is a non-display licence?
The non-display licence covers any use of LME Data other than where the use of the data is in support of its display or distribution.
Who is it for?
A non-display licence is required for those who consume LME Data other than in support of its display or distribution. The LME categorises non-display use into three categories:
- Trading Activities. Non-display use of the data where the Licensee conducts trading either on the LME or elsewhere and trades as a principal on its own account, or on behalf of clients.
Examples include, but are not limited to use in algorithmic trading applications, use in dealer to client platforms where LME data is not displayed, and order book analytics within trading environments. - Risk Management of LME Positions. Non-display use of the data for management of house and client positions either on exchange or conducted on an OTC basis.
- Other. Non-display use of the data which is not Trading Activities or Risk Management of LME Positions.
Examples include, but are not limited to risk management of non-LME positions, trade surveillance software provision, order book analytics which is not within a trading environment, fund administration, portfolio management and research.
If you have any questions regarding your specific use case and how the above categories may apply, please contact market.data@lme.com.
The non-display licence does not grant the right to use the Data for any commercial purposes. As such, further licensing may be required alongside the non-display licence.
For more information on how the non-display licence complements the other LME licensing policies, please refer to the FAQs (PDF).
How to apply:
Applications can be submitted using the Online Licensing Portal from 1st January 2021.