LMEprecious | London Metal Exchange

LMEprecious is the initiative created by the London Metal Exchange (LME), the World Gold Council and a group of leading industry players to introduce exchange-traded, loco London precious metals products.

LME Gold and LME Silver futures provide new opportunities for trading, price discovery and risk management creating an enhanced market structure for the precious metals community.

LMEprecious was developed in response to market demand and in close consultation with key precious metals stakeholders. Offering daily and monthly futures for both gold and silver, LMEprecious delivers greater choice for market participants, modernising the gold and silver markets to better reflect the needs of global players in precious metals markets.

LMEprecious provides a real-time five-year forward curve and intra-day reference prices for the market, which can be accessed free via LMElive.

Contact us

For further information please contact our LMEprecious team.

LMEselect - gold and silver futures (per leg, per side, per lot)
Contract Type	Prompt date	Trading (USD)	Clearing¹(USD)	Total (USD)
House²	TOM or Spot	0.28	0.12	0.40
	TOM/next or Spot/T+3 carry	0.005	0.005	0.01
	Monthlies, all other dailies and quarterlies	0.35	0.15	0.50
Client	TOM or Spot	0.62	0.28	0.90
	TOM/next or Spot/T+3 carry	0.005	0.005	0.01
	Monthlies, all other dailies and quarterlies	0.62	0.28	0.90

Inter-office market - gold and silver futures (per leg, per side, per lot)
Contract Type	Prompt date	Trading (USD)	Clearing¹(USD)	Total (USD)
House²	TOM or Spot	0.21	0.09	0.30
	TOM/next or Spot/T+3 carry	0.005	0.005	0.01
	Monthlies, all other dailies and quarterlies	0.26	0.12	0.38
	Give up clearer post-trade function	0.31	0.14	0.45
	All other post-trade functions³	0.03	0.02	0.05
Client	TOM or Spot	0.47	0.21	0.68
	TOM/next or Spot/T+3 carry	0.005	0.005	0.01
	Monthlies, all other dailies and quarterlies	0.47	0.21	0.68
	All other post-trade functions³	0.03	0.02	0.05

LMEprecious service subscriptions⁴	Fees (USD)
LMEprecious General Clearing Member	20,000
LMEprecious Individual Clearing Member	10,000
LMEprecious Non-Clearing Member	-

¹Clearing fees are payable to LME Clear.

² House fees apply to the house business for all LMEprecious memberships which includes LMEprecious General Clearing Memberships (GCMs), LMEprecious Individual Clearing Membership (ICMs) and LMEprecious Non-Clearing Memberships (NCMs). House fees also apply to trading in LMEprecious Contracts undertaken by affiliates of LMEprecious clearing members (GCMs and ICMs). An “affiliate” shall mean, in relation to an entity, any subsidiary or ultimate holding company of that entity and any other subsidiary of that ultimate holding company. A company is a “subsidiary” of another company, its “holding company”, if that other company holds directly or indirectly 50% more of the voting rights in the company and / or exercises effective control over it. Affiliates of LMEprecious GCMs or ICMs wishing to benefit from House fees must contact Relationship Management at rm@lme.com to demonstrate the entity meets the definition of an affiliate as set out above.

³ Including give-up executor trades, reversal / corrections, OTC bring ons and position transfers.

⁴ LMEprecious subscription fees have been waived until end December 2018.

Resources

LMEprecious key presentation: monthly update (PDF)

LMEprecious brochure (PDF)

LMEprecious FAQs

LME Gold and LME Silver contract specifications (PDF)

LMEprecious trading and clearing fees (PDF)

LMEprecious membership and trading the contracts

Accessing the LMEprecious contracts

Pricing information

LBMA Palladium