Traded Average Price Options (TAPOs) give the metal community a flexible way of hedging exposures to average metals prices.

This is particularly useful because a large proportion of physical contracts are negotiated basis the average prices over particular time periods.

TAPOs are financially settled Asian options, whose payoff depends on the Monthly Average Settlement Price (MASP) for the contract month.

Contract specifications

LME Aluminium
LME Aluminium Alloy
LME Copper
LME Lead
LME Nickel
LME Zinc

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A guide to trading and hedging average prices on the LME (PDF)

LMEpassport, a key component of the LME’s drive for a more sustainable future, is a new system that does away with paper certificates of analysis and provides the market with a new voluntary register of a metal’s sustainability credentials.

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