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Clearing

Steel structure

LME Clear is the clearing house for the London Metal Exchange. Launched in 2014 it was designed and built in consultation with the market to provide cost-efficient, EMIR compliant clearing and settlement services, using cutting edge technology.

Real-time liability, collateral and position monitoring give LME Clear members more control over their business in key areas such as portfolio management, option expiry handling and reporting.

Like all clearing houses, LME Clear provides a financial guarantee to every contract, acting as “the seller to every buyer and the buyer to every seller”. In the event of a clearing member default, LME Clear will step in and manage the defaulting clearing member’s outstanding risk positions swiftly and efficiently.

 

About clearing at the LME 

Steel rebar
Collateral management
LME Clear has designed a Secure Payment System (SPS), in collaboration with the Bank of England and Settlement Banks.
Nickel
Risk management
LME Clear has a robust Risk Management Framework that provides the structure for clear risk policies, processes and internal control mechanisms to manage, assess and contain the risks posed to the clearing house.
Cobalt
Governance
LME Clear is authorised and regulated in the UK by the Bank of England.
Tin
Rules and regulations
The Rules have been developed by LME Clear and The London Metal Exchange ("LME") together with external legal counsel. 

LMEwire is operated by LME Clear and reports derivatives transactions to a registered trade repository.

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