We have introduced several initiatives to enhance trading opportunities on LMEselect, our electronic trading platform, and over the past year we have seen liquidity steadily. A focus for the LME has been electronic 3rd Wednesdays, where around 65% of all LME open interest sits.
What are 3rd Wednesday contracts?
3rd Wednesday contracts are monthly futures that exist within the current prompt date structure for all major LME contracts. The overall contract specification (trading times, contract size, and physical delivery) is exactly the same as the 3 month contract, or for any other prompt date. The key difference between the 3rd Wednesday and any other prompt date is that it does not expire every day. It only expires on the 3rd Wednesday of that month - hence, it is a monthly future.
3rd Wednesday outright volumes on LMEselect
More information about each stage of the Roadmap.