The LME will be launching a new trading platform and enhancing the existing LMEsource market data platform in the second half of 2021.
These changes will bring a number of functional enhancements, please see below for more details, and will require market participants to be prepared for the external impacts discussed below.
The new trading and enhanced market data platforms will deliver a number of changes and improvements including:
The changes will deliver the following enhancements to the participant model and pre-trade risk management (PTRM):
The existing FIX 4.4 order entry interface will be replaced with FIX 5.0 sp2 interface with the following benefits:
The existing LME provided trading GUI will be replaced with a new GUI which will bring the following benefits:
As always, the LME will work closely with participants for their migration preparation including:
It is proposed that the migration will be phased, based on markets and segments.
The migration approach will not include any provision for backwards or forwards compatibility i.e. migrated markets are only available via the new interfaces. Conversely it will not be possible to use the new interfaces to access markets that have not migrated.
The migration will therefore require all parties to be ready on the agreed dates. These include;
The target go-live data is the second half of 2021 with the following key dates and milestones