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Strengthening the market

Geometric structure

In March 2023, the LME and LME Clear published a two-year action plan to enhance and strengthen their markets.

The action plan addresses recommendations put forward in the Oliver Wyman report, following events in the nickel market in 2022, and aims to:

  • Embed the findings of independent, internal, and regulatory-led reviews to manage risk through enhanced controls;
  • Enable the market to provide deep and resilient liquidity for LME participants and members;
  • Build confidence in the reliable and transparent operation and governance of the LME Group’s markets; and
  • Evolve market structure, demonstrating the Group’s ability to deliver modernisation and change

The Action Plan and supporting documents were published on 30 March 2023:

Action Plan to Strengthen the LME Groups Markets (PDF)

23 053 Action Plan to Strengthen The LME Group's Markets (PDF)

Press release: LME Group announces action plan to strengthen its markets

Supporting documents

Working Paper - LME Daily Price Limits (PDF)

Error Trades and Erroneous Order Submission Policy (PDF)

LME DEA Access Overview (PDF)

Policy on Order Cancellations and Controls (PDF)

Price Bands and other Volatility Control Mechanisms (PDF)

Strengthening the Market Infographic (PDF)

Strengthening the Market - Infographic thumbnail

[Click to enlarge image]

The LME Group remains committed to ensuring confidence in the metals market, and will continue to work with stakeholders to support the long-term health, efficiency and resilience of the market as a whole.

Background - independent nickel market review

Oliver Wyman was engaged to undertake an independent review of events in the nickel market leading up to the LME’s decision to suspend the market on 8 March 2022. Fore more information visit the independent nickel market review page.

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