RIB/FIX enhancement
Please note that Member Test A is available to test the new RIB/FIX enhancement. Below are the LMEsmart Member GUI Guide and also the latest LMEsmart FIX API Member Guide v2.27.LMEsmart FIX API member guide 2.27 (PDF)
LMEsmart member GUI guide (PDF)
Useful testing information for pre-trade transparency (PTT) customer testing
Please note:
- The auction duration period in MTA is set to 30 seconds to mirror production.
- The auction duration period in MTB is set to 5 minutes for testing purposes.
To initiate an auction, trades must contain:
- Venue – Inter-office
- Category – Normal or Give-up Executor/Clearer
- Price type – Current
- Product listed on the LIS table
- Volume under the LIS threshold
- Both sides of the trade must have Commodity Derivatives Indicator set to “No”
- Auction period: 30 seconds
- Participating bids and offers should contain the below:
o Venue – Inter-office
o Category – Normal
o Price Type – Current
o Relevant prompt/s for the auction
o Relevant price/s for the auction
o Auction ID (enter into the Public Reference field)
o Relevant Trade time
o Counterparty ‘AUC’
- If one side of the below trade types are cancelled, both sides will be cancelled to prevent matching with auction participants:
- Client crosses
- Give ups (member to member and client crosses)
Members can also use their member test counterparties to test auction initiations and auction participation.
- LIS levels: (TTM_0_1Y = TOM to 1 Year forward, TTM_1_2Y = 1 Year forward to 2 Years forward, etc
|
PRODUCT |
CONTRACT TYPE |
CURRENCY |
TIME TO MATURITY BUCKET |
PTT LIS THRESHOLD |
|
AH |
FWRD |
USD |
TTM_0_1Y |
10 |
|
AH |
FWRD |
USD |
TTM_1_2Y |
37 |
|
AH |
FWRD |
USD |
TTM_2_3Y |
46 |
|
AH |
FWRD |
JPY |
TTM_0_1Y |
10 |
|
AH |
FWRD |
EUR |
TTM_0_1Y |
10 |
|
CA |
FWRD |
USD |
TTM_0_1Y |
3 |
|
CA |
FWRD |
USD |
TTM_1_2Y |
20 |
|
CA |
FWRD |
USD |
TTM_2_3Y |
22 |
|
CA |
FWRD |
EUR |
TTM_0_1Y |
3 |
|
CA |
FWRD |
JPY |
TTM_0_1Y |
8 |
|
NI |
FWRD |
USD |
TTM_0_1Y |
6 |
|
NI |
FWRD |
USD |
TTM_1_2Y |
26 |
|
PB |
FWRD |
USD |
TTM_0_1Y |
11 |
|
SN |
FWRD |
USD |
TTM_0_1Y |
4 |
|
ZS |
FWRD |
USD |
TTM_0_1Y |
8 |
|
ZS |
FWRD |
USD |
TTM_1_2Y |
31 |
Carry trades that straddle multiple time to maturity buckets will be categorised by the maturity bucket with the lowest LIS threshold.
Options and TAPOs are currently not considered for PTT.
If members wish to test on LMEsmart but do not want to initiate an auction, trades entered with the below will not initiate an auction:
- Trades with higher lots than the LIS levels detailed above
- Trade with categories other than “Normal” or “Give-up Executor/Clearer”
- Trades with Commodity Derivatives Indicator set to “Yes” (only one side of the trade needs to contain this for the whole trade to not be considered for PTT)
Contact us
Please email customertest@lme.com for all questions relating to the Customer Test environments.