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Service specification

The LME Clear Detailed Service Specification – Business As Usual provides a detailed perspective of the service offered by LME Clear to its Members and their Clients under normal operating conditions.

The purpose of this document is to supply Members with sufficient information so as to allow them to understand the key business interactions and processes that LME Clear will undertake.

The document includes information on the following:

Service Scope

  • LME Clear opens to receive new transactions for clearing from LMEsmart from 07:30 through to 20:15 London time, with operational support for Members from 07:00 until 22:00. As per current practice LMEsmart will close for input at 20:00 London time.

Trade Management

  • Trades will be subject to basic trade detail checks upon entering the clearing system. This data will be taken directly from LMEsmart. LME Clear has the facility to accept, pend and/or reject trades based on the validity of their trade data.

Position Management

  • The LME Clear EOD process will see all cleared trades in the system aggregated into positions. Members will be able to view their positions in real time through the LME Clear GUI. Positions will be maintained and margined by LME Clear from the point of trade novation until final settlement is confirmed.

Risk Management

  • LME Clear will recalculate a Member’s margin requirements and collateral holdings in real time as their positions/collateral change or as market data is updated.

Report Management

  • LME Clear provides Members with a range of reports that offer a streamlined and concise perspective into data that may prove necessary for Members’ own analysis, reconciliation and evaluation.

To view the LME Clear's Detailed Service Specification-Business as Usual and other technical documents please view on the LME Clear Technology page here . Please login for full access.  

 

A stable and resilient risk management service