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TAPOS

Traded Average Price Options (TAPOs) give the metal community a flexible way of hedging exposures to average metals prices.

This is particularly useful because a large proportion of physical contracts are negotiated basis the average prices over particular time periods.

TAPOs are financially settled Asian options, whose payoff depends on the Monthly Average Settlement Price (MASP) for the contract month.

Contract specifications

LME Aluminium
LME Aluminium Alloy
LME NASAAC
LME Copper
LME Lead
LME Nickel
LME Tin
LME Zinc

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Resources

Key Information Documents

A guide to trading and hedging average prices on the LME (PDF)

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