We are upgrading our market data platform, LMEsource, to enable it to work alongside the new trading platform which will include both electronic and non-electronic (ie Ring and Inter-office) market data along with the addition of an order-by-order/level-3 data.
Timings and specifications
LMEsource will be upgraded in line with the launch of the new trading platform. Please see the useful documents and FAQ page.
Market data – electronic trading
Key features
• level 3 product: new order-by-order events published from the electronic market
• indicative opening price published
• orders and trades available together in the same market data channel
• reference data, which will be providing a full list of securities and tradeable instruments
• publication of ISINs in the reference data channel
Note: Existing TIF file will be maintained
Future enhancements:
• separate channels for futures and options
• RFQ details to be included in the order and trade channel
Market data – non-electronic data
Key features:
• reference prices (for example LME Official Prices, LME Closing Prices, LMEbullion prices)
• inter-office, Ring orders and trades
• inter-office and Ring reference data
• trading volume data
• warehouse stock data
• risk data (e.g. Exchange Open Interest, Market Open Interest and Futures Banding)
• reference data provided
• publication of ISINs in the reference data channel
LMEsource v4 production bandwidth requirements
Based on estimated production traffic, with some headroom, it is recommended that all market participants (members, independent software providers, market data vendors and clients) allocate the minimum following bandwidth for connecting to LMEsource v4 production service.
The LME will periodically review and update participants on bandwidth requirements from time to time. Please refer to Table 3 for high-level summary of market data available in each of the multicast products. Further details on the messages published on each of the multicast channels/products is available in section 12 of LMEsource v4 Client Interface Specification document.
- The quoted bandwidth in Table 1 is for a single LMEsource multicast product and single market data feed.
- The quoted bandwidth in Table 2 is for multiple LMEsource multicast products and single market data feed.
Table 1: Single LMEsource multicast product and single feed
Multicast products | Electronic (Mbps) | Non-electronic (Mbps) |
Core 1(C1) - Level 1 : Top Of Book |
26 | N/A |
Core 2(C2) - Level 2 : Aggregate Depth |
51 | |
Core 3(C3) - Level 3 : Order by Order |
53 | |
Growth 1(G1) - Level 1 : Top Of Book |
6 | N/A |
Growth 2(G2) - Level 2 : Aggregate Depth | 10 | |
Growth 3(G3) - Level 3 : Order by Order |
7 | |
LBMA 1 (L1) |
N/A | 1 |
Algo Test (A1) - Level 2 + Level 3 |
4 | N/A |
Table 2: Multiple LMEsource multicast products and single feed
Multicast products | Mbps |
Level 1 (C1 and G1) + Level 2 (C2 and G2) | 81 |
Level 2 (C2 and G2) + Level 3 (C3 and G3) |
90 |
Level 1 (C1 and G1) + Level 2 (C2 and G2) + Level 3 (C3 and G3) | 112 |
Table 3: Multicast products summary
Core multicast products (C1, C2 and C3) | Includes data for the Base contracts - C1 product include electronic market data only and reference data from all venues - C2 and C3 products include both electronic and non-electronic (Inter-office, Ring, reference prices, positions, stocks) market data for base contracts |
Growth multicast products (G1, G2 and G3) |
Includes data for the Ferrous contracts and Cash Settled Futures - G1, G2 and G3 products include both electronic and non-electronic (Inter-office, Ring, Reference prices, positions) market data for Ferrous contracts and Cash Settled Futures |
LBMA multicast product (L1) |
Includes data for the Platinum & Palladium auction prices |
Algo test multicast product (A1) |
Includes data for Algo Test (dummy) contracts |
Connectivity details |
Multicast Channel IPs and UDP Port details are available in LME Systems Connectivity Guide |
In addition, market participants should allow:
- Additional bandwidth of 2 Mbps per RTS session if planning to connect to LMEsource v4 Retransmission service (RTS).
- Additional bandwidth of 5 Mbps for connecting to each of LMEsource v4 test environments (MTA and MTB) for a single market data feed.
If you need further guidance or have any questions related to bandwidth requirements please email the LME Technical Account Management team.
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