Consultation results (November 2019)
On 1 November 2019, the LME released the results of its consultation on warehouse reform, which closed on 12 September 2019. 13 written responses were received and the LME has published a feedback analysis report which provides a summary of those responses and the LME’s own analysis.
Subsequent to the above announcement, the LME released minor amendments to the LME Warehouse Agreement and LME Policy on the Approval and Operation of Warehouses as set out in notices 19/419 (PDF)
Press release: LME proceeds with warehouse reform proposals
Consultation (July 2019)
On 25 July 2019 the LME launched a market-wide consultation (PDF) on proposals put forward in the warehouse reform discussion paper (PDF), which it believes represent positive progress for the LME warehouse network.
The LME is also consulting on a number of other proposals which were not included in the discussion paper, but on which the LME believes further action is appropriate. These proposals broadly fall into three main categories:
- Logistical optimisation
- Transparency and compliance
- Rebalanced rules and a pathway to simplification
The consultation is open until 12 September 2019 and the LME welcomes feedback from all market participants and other interested parties, including regulatory and governmental bodies.
The Consultation and its associated appendices can be found here (PDF).
For ease of reference, the full set of documents contained in the Consultation are set out individually below:
Consultation on warehouse reform (PDF)
Appendix A: LME Policy on Approval and Operation of Warehouses – redline (PDF)
Appendix B LME Policy on Approval and Operation of Warehouses clean (PDF)
Appendix C: LME Policy on Approval of Locations as Delivery Points – redline (PDF)
Appendix D LME Policy on Approval of Locations as Delivery Points clean (PDF)
Appendix E: LME Warehouse Agreement – redline (PDF)
Appendix F: LME Warehouse Agreement – clean (PDF)
Appendix G: LME Complaints Procedure – redline (PDF)
Appendix H: LME Complaints Procedure – clean (PDF)
LME warehouse reform consultation overview (PDF)
Press release: LME opens consultation on warehouse reform proposals