The Rules have been developed in accordance with the following principles:
- To reflect the operational design of LME Clear
- To reflect the legal framework which will apply to LME Clear, including primarily the requirements of "EMIR" that apply to central counterparties
- To be clear and user friendly.
The Rules (including the Procedures and Annexes) are legally binding on Members. Material amendments will be subject to a formal consultation process, unless certain exemptions apply. For example, LME Clear will not be required to consult on changes to the content of the Annexes. The Rules are also supplemented by operational documents such as the Detailed Service Specification which are not legally binding.
There are no LME Clear rule changes under consultation currently.
Qualifying CCP status
LME Clear is required to publish certain additional information to its member firms because of its Qualifying Central Counter party (QCCP) status. This information is available to employees of member firms by logging in or registering below.