LMEnet will improve the quality of the service to LME clients, 99.999% availability, resilience, and advanced service monitoring for performance data, packet loss ratio, deterministic jitter and latency, scalable bandwidth and improved market gateway failover.
The LME received a number of requests from members to improve its connectivity. Open discussions have been carried out with members at the Ring Dealing Committee, Matching and Advisory Committee and the Market Data User Group Committee in developing LMEnet to meet their demands for enhanced speed and robustness.
The new LMEnet service will be offered to members in a choice of two packages:
- LMEnet Premium is for latency sensitive applications and links clients directly into the LME’s data centres using 1Gb latency-optimised circuits, providing dedicated low-latency connectivity. Benefits include ultra-low-latency infrastructure which will connect LME datacentres to market participants. The LME will provide each Premium customer with a bespoke latency value.
- LMEnet is the standard service for trading, matching, clearing and market data. Offering a high-quality service for market participants to access LME’s platforms but whose strategies are not particularly focussed on low latency. The LMEnet service will leverage Colt’s PrizmNet core network, which is hosted on the cloud, coupled with Ethernet access circuits from Colt and other carriers.
Pricing for each tier carefully reflects proximity to LME electronic trading systems, bandwidth, and latency resilience included in each offering. LMEnet Premium and LMEnet have been priced competitively within the market. Pricing details for all connectivity options are available on www.lme.com
Yes, a new 3-year Connectivity Agreement will need to be signed and forwarded to the LMEnet@lme.com along with your circuit order form.
There will be a one-off fee for the move and the 3-year contract will continue.
An order form available from the LMEnet@lme.com will need to be completed detailing location details and circuit requirements.
Billing will start 10 working days after service handover.
LME networks will assist with testing your new circuits.
Your point of contact will be the IT service desk for production issues
(ITservicedesk@lme.com) and LMEnet team for changes, upgrades and queries
LME will monitor bandwidth utilisation and will work with market participants to identify the optimum circuit bandwidth.
The minimum requirement for connectivity to LME Clear would be LMEnet. Connection to LME Clear will be included in testing when you migrate over your circuits.
Yes, the LME will provide access to an advanced reporting portal for all Colt delivered connectivity.
Written notice of intention to cancel the circuits is required 6 months before the contract end date. The notice period is 6 months before either the 3-year contract end date, or before the 1-year contract end date.
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