Usage Licence
What is a Usage Licence?
A LME Usage Licence is required by any firm that uses LME data or trademark(s) for either of the following uses, other than for limited internal business use:
- For valuation and/or pricing activities that do not constitute Non-Display Use; and/or
- As a reference price in transactions.
A LBMA Usage Licence is required by any firm that uses London Bullion Market Association Platinum and Palladium (LBMA PGM) data or trademark(s) for either of the following uses, other than for limited internal business use:
- For valuation and/or pricing activities; and/or
- As a reference price in transactions.
Who is it for?
Example uses of data include (but are not limited to):
Use of LME and/or LBMA data as a reference in:
- financial swaps
- physical supply or sales contracts
- bi-lateral OTC contracts
Use of LME data in valuation of funds, holidng, inventories and pricing curves when this use does not constitute Non-Display Use.
Use of LBMA data for the valuations of funds, holdings, inventories and pricing curves.
Firms may be exempt from the policy, subject to a fee waiver, or subject to the Financial OTC Booking Fee Policy for certain OTC transactions.
How to apply:
Access the Online Licensing Portal and begin your application.
LME Usage Licence Fees (effective 2019)
| Annual Licence Fees (USD) | ||
| Licensee | Standard Licence* | Premium Licence** |
| LME Member (Category 1-5) | Fee waived | Fee waived |
| LME Client | Fee waived | 5,000 |
| LPP Member Participant*** | 3,500 | 8,500 |
| Physical Participant | Fee waived | Fee waived |
| Other | 3,500 | 8,500 |
The following firms are exempt from the LME Usage Licence:
- Firms with a limited use of the data ( <$10m annual notional)
- Firms solely receiving contracts
- Firms using the data internally.
LBMA PGM Usage Licence Fees (effective 2019)
| Annual Licence Fees (USD) | ||
| Licensee | Standard Licence* | Premium Licence** |
| LME Member (Category 1-5) | 2,500 | 5,000 |
| LME Client | 2,500 | 5,000 |
| LPP Member Participant*** | Fee waived | Fee waived |
| Physical Participant | 2,500 | 5,000 |
| Other | 2,500 | 5,000 |
* Standard – includes the firm and up to five Affiliates
** Premium – includes the firm and unlimited Affiliates
***LPP Member Participant - as defined in Section 3 of the LPP Price Regulations.
For more information on the waivers and exemptions, please refer to the FAQs (PDF).
- LME Usage Terms - October 2020 641.01 KB
- LBMA PGM Usage Terms October 2020 645.02 KB
- LME Audit Policy (01 October 2020) 320.57 KB
- Usage Licence Frequently Asked Questions (FAQs) 443.26 KB
- LME Usage Terms - January 2021 606.12 KB
- LBMA PGM Usage Terms - January 2021 609.83 KB
- LME Audit Policy (01 January 2021) 320.57 KB
- Notice 16/388 : A381 86.88 KB
- Notice 16/026 : A:026 195.54 KB
Contact us
For further information please email our Data Licensing team.