The role of The London Metal Exchange

The objective of the London Metal Exchange is to provide facilities, along with the management and regulatory structure, for trading in LME contracts. It is a Recognised Investment Exchange (RIE), regulated directly by the Financial Conduct Authority (FCA).  

Although its activities are closely related to the physical markets, it operates within the regulatory framework of the Financial Services and Markets Act 2000.The Act closely defines the conditions under which the Exchange operates and requires that as an RIE it maintains orderly markets in all it's contracts. 

When it carries out its activities in the United States (US), the Exchange is governed by the relevant US legislation and by the Commodities and Futures Trading Commission (CFTC). It is also subject to any relevant directives of the European Union. 

The Articles of Association of the London Metal Exchange is available to download.


Board Members

Gay Huey Evans OBE - Chairman

Gay is Chairman of the London Metal Exchange and also serves on the Boards of Standard Chartered, ConocoPhillips, IHS Markit and HM Treasury. She is a Trustee of the Beacon Collaborative and Wellbeing of Women, serves on Chatham House’s 20th Century Committee and is a member of the US Council on Foreign Relations.

Since taking up her role as Chairman of the LME, Gay has already supported and steered a number of key initiatives – from the major technology infrastructure rebuild, to the diversity and inclusion agenda and sustainability initiatives.

Gay has worked within the finance and commodity industry for the past 30 years, as both an established market practitioner and regulator, giving her deep expertise across commerce, risk, governance, policy and regulation in capital markets. Awarded an OBE in 2016 for services to the financial service industry and diversity, Gay is a passionate advocate for ensuring markets build trust through accessibility and transparency and for increased diversity in business.

Gay has previously served on the Boards of Itau BBA International, the Financial Reporting Council, Aviva and the London Stock Exchange and held executive roles with Barclays Capital, Citi, the Financial Services Authority and Bankers Trust.

Matthew Chamberlain - LME Chief Executive

Matthew Chamberlain is the CEO of the London Metal Exchange and a member of the Management Committee of HKEX Group.

Matthew joined the LME in 2012, having advised HKEX on the acquisition of the LME while at UBS. He started his career at Citibank, and holds an MA from Trinity College, Cambridge.

Laura Cha - Independent Director

Mrs Laura Cha was appointed an independent non-executive director of The London Metal Exchange on 8 May 2018. She is currently the Chairman of Hong Kong Exchanges and Clearing Limited, independent non-executive director of HSBC Holdings plc and non-executive director of Unilever plc.

Mrs Cha was formerly an independent non-executive director of China Telecom Corporation Limited from 2008 – 2018, the vice chairman of China Securities Regulatory Commission from 2001 to 2004 and held various roles within Hong Kong Securities and Futures Commission, including deputy chairman, between 1991 to 2001.

Mrs Cha is a qualified lawyer. She holds a Juris Doctor degree from Santa Clara University and was admitted to the State Bar of California. Mrs Cha is also an Honorary Fellow of the Hong Kong Securities and Investment Institute.

Antony Stuart - Independent Director

Mr Stuart was appointed as an Independent director of The London Metal Exchange on 26 April 2016. Mr Stuart is a Chartered Accountant and Investment Banker. He was a Managing Director and Executive Committee member with N M Rothschild, where for thirty years he advised on strategy, financing and M&A for a wide variety of companies in the UK, Europe and Australia. He has held a number of non-executive directorships since his retirement in 2011 and currently is the Hon Treasurer and a Council member at the University of Surrey. He is also an Independent director of LME Clear Limited.

Stephen Yiu - Independent Director

Mr Stephen Yiu was appointed to the Board of The London Metal Exchange on 15 June 2017. Mr Yiu was the Chairman and CEO of KPMG China and Hong Kong from 2011 to 2015.

He joined KPMG Hong Kong in 1983 after graduating from Hong Kong Polytechnic and was seconded to KPMG in London from 1987 to 1989. He became a partner of the firm in 1994 and served as the Partner in Charge of Audit from 2007 to 2010. He became Chairman and CEO of KPMG China and Hong Kong on 1 April 2011. He was also a member of the Executive committee and board member of KPMG International as well as KPMG ASPAC from 2011 to 2015.

Mr Yiu was a member of Audit Profession Reform Advisory Committee and Mainland Affairs Committee of the Hong Kong Institute of Certified Public Accountants. He is currently a Council Member of Hong Kong University of Science and Technology and St Paul Co-educational College, an esteemed secondary and primary school in Hong Kong. Mr Yiu is a board member of the Independent Insurance Authority of Hong Kong; a newly established regulator for the insurance industry. He has recently been appointed an independent non-executive director of China Mobile Limited, the biggest mobile network operator in the People’s Republic of China.

Romnesh Lamba - Co-president

Mr Romnesh Lamba is HKEX’s Co-head of Market Development and member of the HKEX Management Committee. Prior to join HKEX, Mr Lamba was a senior adviser of Asia ex-Japan corporate finance and capital markets business of JP Morgan (Hong Kong) from 2008 to 2010. From 2000 to 2008, he held various senior positions in Merrill Lynch (Asia Pacific), including Managing Director of investment banking, Chief Operating Officer of China origination business, and Head of Asia energy and power team. Prior to 2000, he worked in various investment banking positions for firms in Hong Kong and the United States of America.

Mr Lamba holds a Bachelor of Science degree in Economics and a Master of Business Administration degree from the Wharton School, University of Pennsylvania.

Herta Von Stiegel - Independent Director

Dr Herta von Stiegel was appointed as an independent non-executive director of The London Metal Exchange on 18 January 2019. Herta is currently the Executive Chair of Ariya Capital Group Limited, a regulated financial services firm and project developer focusing on clean energy and enabling infrastructure investments in Africa, independent director of LeasePlan Corporation N.V., director of Britam Asset Managers (K) Limited and chair of Women Corporate Directors, Kenya. Until 10 November 2017, she served as the first independent chair of the CHAPS Clearing Company Ltd, the primary UK whole-sale clearer of sterling payments with volumes of GBP 76 trillion per annum. She has over 25 years’ experience in international finance with a consistent track record of building profitable highly regulated structured finance businesses. She was Managing Director at AIG Financial Products and has held senior positions at Citibank and JP Morgan in London and New York.

Herta has a Juris Doctor degree from Thomas M. Cooley Law School in Michigan, a Masters of Law degree in Taxation from New York University School of Law, a B.A. and Doctorate of Humane Letters (honoris causa) from Andrews University and completed the Executive Programme in Corporate Finance at the London Business School.

Richard Leung

Mr Leung joined HKEX in October 2011 and is currently the Group Chief Technology Officer.  In his position, Mr Leung is responsible for the technology strategy and operations in Hong Kong, London and the Chinese mainland. He leads the technology effort across the Group to ensure the development and operations efforts are coordinated and the engagement with the vendors is optimised.


Mr Leung has worked with exchange and financial sector technology over the past three decades.  Prior to joining HKEX, he was the Chief Technology Officer for Chi-X Global.  Mr Leung joined Chi-X Global in conjunction with Chi-X Global’s 2008 acquisition of Cicada.  Prior to joining Cicada, Mr Leung held a 14-year career with Dow Jones Telerate in the Asia Pacific region, where he served in various senior technical positions.

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