Becoming a Clearing Member

Minimum Membership requirements

Please see the minimum Membership requirements and the required documentation below.

Membership requirements

  • Minimum net capital of £5 million
  • Banking mandates with secure payment system providers (SPS) settlement banks in a minimum of USD and GBP
  • Member’s staff must have sufficient experience and knowledge of the products being cleared
  • Appropriate systems to manage clearing activities
  • The membership application procedures form part of the Rules and Regulations of LME Clear and include:
  • Completion of appropriate application documentation
    - A successful due diligence visit completed by LME Clear
    - Approval by the LME Clear Executive Risk Committee
    - Completion of necessary testing and training
    - Payment of default fund contribution – this is a minimum initial contribution which will be adjusted to a risk based contribution following a period of clearing

Documentation required

  • LME Clearing Membership Agreement and corporate documentation
  • Secure Payment System Mandates – UK and US minimum
  • Security Deeds pertaining to lodging of non cash collateral
  • Client onboarding reference pack (static data etc)
  • Other documents may be required for new entities or certain account structures

Contact Us

For further information please get in touch.