Key compliance notices

The LME has published the key member notices that contain detailed rules in relation to regulatory and compliance matters. These notices should be considered in conjunction with the LME rulebook.

The full database of member notices is available online via Lexis Nexis.

LMEprecious

 

LMEbullion

Ref Notice Title
  LPP Price Regulations 

 

Rules Powers & Functions

Ref Notice Title
17/402 LME Group Transaction Fees Annual Subscriptions and Other Charges
19/226  Policy Relating to Position Management
18/274 Decision notice - Consultation on proposed amendments to the LME and the LME Clear Rulebooks- Strategic Pathway initiatives and miscellaneous rule amendments  
19/371 Matching Rules
18/282 Error Trades and Erroneous Order Submissions Policy
17/214 Introduction of Accountability Levels and Position Limits for LMEprecious Contracts
17/052
Decision Notice - Consultation on Proposed Automatic Penalty Charges Rent Unpaid Warrants
16/166 : R066 Introduction of Accountability Levels for LME Contracts
16/166 : R066 Appendix 1 - Summary of Feedback and Responses
16/166 : R066 Appendix 2 - Accountability Levels - Marked-Up
16/166 : R066 Appendix 3 - Accountability Levels - Clean
16/094 : A094 : W034 Disciplinary Procedures Handbook - Minor Amendments
16/094 : A094 : W034 Appendix A - Disciplinary Procedures Handbook 2016
16/094 : A094 : W034 Appendix B - Mark-up Disciplinary Procedures Handbook
16/031 : A031  LME Enforcement Process - Transitional Arrangements & Further Guidance regarding Business Processing & Reporting Rule Breaches
16/007 : A007 Introduction of a Revised Member Audit Programme
16/006 : A006 LME Enforcement Process - Guidance for Members on Indicative Financial Penalties
15/334 : R007 Position Limits for Premium Aluminium Contracts
15/288 : A280 Rules Powers Functions of Head of Market Operations
00/383 : A376 : R010
Rules on LME Give Ups
00/383 : A376 : R010
Rules on LME Give Ups - Attachment

 

Incentive programmes

Ref Notice Title
19/287  Member Incentive Programmes 
18/330 Restructure of incentive programmes 
17/417 New Ferrous Liquidity Provider Programme - Appointed Liquidity Providers
17/414 New Ferrous Liquidity Provider Programme 
17/316 Clarification of client eligibility for liquidity provider new market participants 
17/294 Ferrous Pricing Procedures
17/273  Continuation of liquidity provider and new market participant programmes
17/213
Additional Prompt dates to enhance averaging strategies
16/183 : A177 Electronic Third Wednesday Trader Programme
15/254 : A248 Introduction of Liquidity Provider and New Market Participant Programmes
15/264 : A257 Introduction of LME Market Marking Programmes

 

Lending Rules

Ref Notice Title
19/226 Policy Relating to Position Management
11/293 : A286: R008 Explanation of Metal Lending Guidance
01/122 : A122 Concentration of Warrant Holdings

 

Reporting and publication of information

Ref Notice Title
14/202 : A195 : W098
Information barriers between Warehouse Companies and Trading Companies
14/171 : A167
Commitments of traders report Consultation results and classification process
98/090 : R006 Reporting of Open Interest on the LME
09/231 : R004 Daily Position and Other Reporting

 

Trading, matching, registration and clearing

Ref Notice Title
20/069  Business Continuity Plans for LME Metal Futures and Aluminium Premium Contracts
17/395 Waiver of Pre-Trade and Deferral of Post Trade Transparency Requirements for Certain Traded Options
17/394 Decision Notice - Consultation on policy relating to Fast Market 
17/386 Decision Notice - Consultation on Market Making Agreement for MiFID II
17/218 Amendment to the Metal Close Out Schedule During the Second Kerb Session
17/204
Decision Notice - Consultation on Amending the Ring Dealing Regulations to Strengthen and Enhance Trading on the Ring
17/204
Decision Notice - Consultation on Amending the Ring Dealing Regulations to Strengthen and Enhance Trading on the Ring Appendix 1 - Summary of Feedback and Responses
17/191
A guide to the structure market terminology and order execution of the LME
17/191
A guide to the structure market terminology and order execution of the LME  - Appendix
17/184 Update to Category 4 Membership Model Trade Registration Requirements
17/127 LMEsmart - Introduction of Dynamic Price Banding
17/047
Clarification to Introducing Broker Arrangements for the LME
03/304 : A303 Omnibus Accounts and LME Clients

 

Ring

Ref Notice Title
19/255   Amendments to the Schedule for Ring Trading During the Second Session and PM Kerb Following the Zinc Trial for All Base Metals Traded on the Ring
18/143 Ring Recording Policy

 

Options

Ref Notice Title
20/116 20 116 LME Metal Options Interpolation Process and Submission of Closing Volatilities Clarification
20/115 20 115 Consolidated Traded Options Pricing Procedures - Update and Restatement
19/177 Consolidated Notice for Traded Options Procedures Amended and Restated

 

LMEselect & LMEsmart Price Banding Limits

Notice Title
LMEselect & LMEsmart Price Banding Limits 
LMEselect NCR Values

 

LMEselect

Ref Notice Title
  Current Max Bid Ask Ranges
LME UOTR Thresholds
19/061  Pricing Procedures for Cash Settled Futures 
19/031  Trial of Electronic Closing Prices 
19/012 Information on LMEselect and LMEsmart Dynamic Price Banding Limits and No Cancellation Ranges
17/389  Introduction of Maximum Bid-Ask Ranges for Market Making 
14/358 : A349 Amendment to LMEselect outright tick sizes
13/038 : A038  Revision to LME Asian Benchmark 
09/352 : A344 Distribution of LMEselect Data
09/346 : R009 User Identification in LMEselect-Confirmation

 

Complaints procedures

 

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