Whether you are an industrial hedger, physical market trader or proprietary trader there are two ways of accessing our markets:
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.
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:
To become a member of LMEprecious, candidates should contact Market Access team.
There are three categories of membership for LMEprecious, each with different capabilities: