Over the past couple of years we have implemented a series of initiatives, as well as updates to our electronic trading platform (LMEselect) designed to:
The initiatives that facilitate electronic trading on the LME include:
New release of LMEselect - The upgrade of LMEselect 9.0 went live on 27 March 2017 and provides greater performance and capacity for electronic traders, and introduces dynamic price limits across all prompts and carries.
Membership enhancements - Category 3 and 4 members now have direct access to LMEselect, alongside the introduction of additional flexibility in admission criteria for all membership categories. These changes are designed to facilitate greater market access and participation.
Electronic Trader Programme - Our Electronic Trader Programme was introduced on 1 June 2016, reducing fees to $0.90 for all registered clients of members trading outright 3rd Wednesdays, and 3 months to and from 3rd Wednesdays.
Liquidity Provider Programme (LP) - The LP incentive programme is aimed at existing traders who will receive volume-based rebates of clearing and trading fees.
New Market Participant Programme (NMP) - This programme offers rebates for new participants who have not traded the market before,increase liquidity and trading on LMEselect.