LMEwire is operated by LME Clear and is the core platform used for EMIR transaction and position reporting to the elected Trade Repository, DTCC. These will be LME Exchange Traded Derivatives (ETD’s), OTC Lite Trades and Non LME ETD trades.

LMEwire processes and enriches the data from LMEsmart and reports the required data to the Trade Repository on a T+1 basis. OTC Lite is an additional reporting service allowing firms to report their Over The Counter (OTC) derivatives transactions that are reportable under EMIR to the Global Trade Repository.

The LMEwire service also provides a Members Portal for Members to submit their OTC Lite or Non LME ETD csv files as well as any amended files for LME ETD, OTC Lite or Non LME ETD.

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LMEwire is a service that enables members to meet their regulatory trade reporting requirements. It is efficient, cost-effective and customised to the needs of the metals market.

Why LMEwire?

We are uniquely placed to assist you with your trade reporting requirements for all London Metal Exchange (LME) and over-the-counter (OTC) trading. The majority of the Exchange-traded derivatives (ETD) data is already available on LMEsmart. This can be reported securely with minimal work from members, utilising existing connectivity.

Who needs to report? 

All the parties to derivatives trades and the CCP have an obligation to report LME Clear can report for members as well as some or all of their clients.

Reporting requirements

The European Markets Infrastructure Regulation (EMIR) reporting obligation came into force on 12 February 2014. Both ETD and OTC trades must be reported following execution/modification/early termination on a next business day (T+1) basis. This will be expanded in August 2014 to add mark to market, positions and collateral data on a daily basis.

We recommend that non-segregated LME client contracts should be reported as ETDs, for the interim period that they can be used, in order to avoid uncertainty and inconsistency in reporting these trades.

LME Clear has selected DTCC as its strategic partner for the reporting service, which launched on 12 February 2014.

LMEwire live system status

Status: Green

Last updated: 25 September 2014, 8:27

LMEwire is a service provided by LME Clear Limited, a private limited company registered in England no 07611628 at 10 Finsbury Square, London EC2A 1AJ.

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