Access the market

Whether you are an industrial hedger, physical market trader or proprietary trader there are two ways of accessing our markets:

  • By trading as a client through an existing LME member
  • By becoming an LME member

The decision as to which route to choose will be determined by a number of factors including what level of access you require, whether your firm is trading for its own book and / or executing on behalf of clients, what your regulatory permissions are and what your capital requirements might be.

A large number of participants access our markets as clients of LME members. Non-members wishing to trade Base Metals can do so through Category 1, 2 and 4 members with each category offering different levels of services in respect of trading and clearing.

Category 1, 2 and 4 members can offer clearing services to clients; Category 4 members are not members of the LME’s clearing house, LME Clear, and will use the services of a Category 1 or 2 member to clear their trades.

For LMEprecious, non-members can access the contracts as clients through a GCM or an NCM. An NCM will use the services of a GCM to clear their trades.

Registered Intermediating Brokers (RIBs) are brokers which can arrange LME and LMEprecious trades between market counterparties, who can be LME members or clients.

Find a member

To become a member of the LME, candidates should contact Market Access team in the first instance to discuss their requirements. There are various on-boarding stages, which can run concurrently, and include application completion/due diligence, connectivity and operational readiness.

There are seven categories of membership each with different capabilities:

  • Categories 1 and 2 – General clearing members who can trade for own account and on behalf of clients
  • Category 3 – Individual clearing members who can trade for own account
  • Category 4 – Non-clearing members who can trade for own account and on behalf of clients but who are not members of LME Clear and will therefore use the services of a Category 1 or 2 member to clear their trades
  • Category 5 – Entities who are involved in the physical market and or clients of Category 1, 2 or 4 members, who wish to be associated with the LME brand
  • Category 6 - Individual members
  • Category 7 – Honorary members.

Membership categories
Membership criteria and capabilities (PDF)
Become a member

To become a member of LMEprecious, candidates should contact Market Access team.

There are three categories of membership for LMEprecious, each with different capabilities:

  • LMEprecious GCM - General clearing member for the LMEprecious contracts
  • LMEprecious ICM - Individual clearing member for the LMEprecious contracts
  • LMEprecious NCM - Non-clearing member for the LMEprecious contracts

Membership categories

LMEprecious Membership criteria and capabilities (PDF)

Become a member

To become a Registered Intermediating Broker (RIB), candidates should contact the Market Access team.

There are two types of Registered Intermediating Broker (RIB) membership which offer different levels of access to our markets:

  • Tier 1 RIB member
  • Tier 2 RIB member

We are accepting applications for RIB membership from Monday 5 November 2018. There is more detail on these types of membership in our membership categories section.

Membership categories

RIB membership criteria and capabilities (PDF)

Contact Us

For further information on becoming a member please email our Market Access team.

To find a member please email our Sales team.