The Ring transition programme

As part of the Discussion Paper on Market Structure the LME decided to permanently move the Closing Prices to be discovered on LMEselect, while the discovery of Official Prices remains on the Ring (although the Ring is temporarily suspended due to COVID-19).

The Ring Transition Rebate Programme (RTRP) is designed to help Category 1 Members transition their business models in light of this split pricing approach, helping them to continue providing services to their clients and supporting liquidity for the wider market.

The RTRP rebates trading fees from the LMEselect fee down to the lower Ring fee, for Category 1 Member house traders during the Closing Price discovery process.

The Programme runs from 6 September 2021 until 5 September 2022.

RTRP specifications (PDF)

RTRP application form (PDF)

RTRP supporting spreadsheet (XLSX)

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