LMEsource is the real-time and multicast market data platform from the London Metal Exchange. It provides the market with a high through put and low-latency market data feed in binary message format.
It works alongside LMEselect and includes both electronic and non-electronic (ie Ring and Inter-office) market data along with the addition of an order-by-order/level-3 data.
Market data – electronic trading
Key features
- Level 3 product: order-by-order events published from the electronic market
- Indicative opening price published
- Orders and trades available together in the same market data channel
- Reference data, which will be providing a full list of securities and tradeable instruments
- publication of ISINs in the reference data channel
Market data – non-electronic data
Key features:
- Reference prices (for example LME Official Prices, LME Closing Prices, LMEbullion prices)
- Inter-office, Ring orders and trades
- Inter-office and Ring reference data
- Trading volume data
- Warehouse stock data
- Risk data (e.g. Exchange Open Interest, Market Open Interest and Futures Banding)
- Reference data provided
- publication of ISINs in the reference data channel
LMEsource production bandwidth requirements
It is recommended that all market participants (members, independent software providers, market data vendors and clients) allocate the minimum following bandwidth for connecting to LMEsource production service.
The LME will periodically review and update participants on bandwidth requirements from time to time. Please refer to Table 3 below for high-level summary of market data available in each of the multicast products. Further details on the messages published on each of the multicast channels/products is available in section 12 of LMEsource v4 Client Interface Specification (pdf) document.
- The quoted bandwidth in Table 1 is for a single LMEsource multicast product and single market data feed.
- The quoted bandwidth in Table 2 is for multiple LMEsource multicast products and single market data feed.
Table 1: Single LMEsource multicast product and single feed
| Multicast products | Electronic (Mbps) | Non-electronic (Mbps) |
| Core 1(C1) - Level 1 : Top Of Book |
26 | N/A |
| Core 2(C2) - Level 2 : Aggregate Depth |
51 | |
| Core 3(C3) - Level 3 : Order by Order |
53 | |
| Growth 1(G1) - Level 1 : Top Of Book |
6 | N/A |
| Growth 2(G2) - Level 2 : Aggregate Depth | 10 | |
| Growth 3(G3) - Level 3 : Order by Order |
7 | |
| LBMA 1 (L1) |
N/A | 1 |
| Algo Test (A1) - Level 2 + Level 3 |
4 | N/A |
Table 2: Multiple LMEsource multicast products and single feed
| Multicast products | Mbps |
| Level 1 (C1 and G1) + Level 2 (C2 and G2) | 81 |
| Level 2 (C2 and G2) + Level 3 (C3 and G3) |
90 |
| Level 1 (C1 and G1) + Level 2 (C2 and G2) + Level 3 (C3 and G3) | 112 |
Table 3: Multicast products summary
| Core multicast products (C1, C2 and C3) | Includes data for the Base contracts - C1 product include electronic market data only and reference data from all venues - C2 and C3 products include both electronic and non-electronic (Inter-office, Ring, reference prices, positions, stocks) market data for base contracts |
| Growth multicast products (G1, G2 and G3) |
Includes data for the Ferrous contracts and Cash Settled Futures - G1, G2 and G3 products include both electronic and non-electronic (Inter-office, Ring, Reference prices, positions) market data for Ferrous contracts and Cash Settled Futures |
| LBMA multicast product (L1) |
Includes data for the Platinum & Palladium auction prices |
| Algo test multicast product (A1) |
Includes data for Algo Test (dummy) contracts |
| Connectivity details |
Multicast Channel IPs and UDP Port details are available in LME Systems Connectivity Guide |
In addition, market participants should allow:
- Additional bandwidth of 2 Mbps per RTS session if planning to connect to LMEsource v4 Retransmission service (RTS).
- Additional bandwidth of 5 Mbps for connecting to each of LMEsource v4 test environments (MTA and MTB) for a single market data feed.
If you need further guidance or have any questions related to bandwidth requirements please email the LME Technical Account Management team.
Trades and volume reporting
Please see below rules on reporting trades and volumes on LMEsourcev4.
Trades published on LMEsourcev4 along with volume included at EOD.
Member trade publication
| LMEselect (electronic) | Ring | Interoffice - normal trades | Interoffice - give ups and admin | ||
| Futures | Trade messages | Y | Y | Y | N |
| Volume | Y | Y | Y | Y | |
| Options | Trade messages | N/A | N/A | Y | N |
| Volume | N/A | N/A | Y | N | |
Client trade publication
| LMEselect (electronic) | Ring | Interoffice - normal trades | Interoffice - give ups and admin | ||
| Futures | Trade messages | N | N | N | N |
| Volume | Y | Y | Y | N | |
| Options | Trade messages | N/A | N/A | Y | Y |
| Volume | N/A | N/A | Y | Y | |