LMEsword FAQs

When changing your password within LMEsword, please ensure you click on the save icon, and NOT hit return on your keyboard, as this will not save the new password.

There are two options, you can either become a member of the Exchange or become just an LMEsword member, via a remote participant agreement.

Each participant has a security officer who controls the access to LMEsword. In their absence Post Trade Operations will be able to create new users with permission from the participant's compliance team. You will require a Symantec certificate in order to gain access to LMEsword. Please contact Post Trade Operations for further information.

If you have had a password reset email, the password contained in the email will expire in 24 hours. Once you have changed the password within LMEsword, it will expire after 30 days.

Your security officer can reset passwords, or you can contact the LME Helpdesk via email.

You will receive the system generated instructions at approximately 16.30 the day prior to the commitment. You can populate these instructions from 16.30 onwards, the warrants will be seen in your account until 11.00 the next day when the LME Clear collection and allocation process takes place.

You will be able to see the warrants once the giver has authorised the instruction. If the giver has chosen a manual release on the instruction you will only be able to view the warrant details until the giver releases the warrants. If there is no manual release as soon as the instruction has been authorised by the giver, the warrants will show in your account.

Under the "Warrants" tab, "Rent Calculation" calculates the total rent due up to the target date required.

Input the target date, and then use "Get From," "Batch," "Upload," or "Find By" to choose the warrants as desired.

Then click on the report button and choose report type.

LMEsword will then calculate the total rent due.

This is not a rent endorsement instruction, this is simply a calculation.

The account holder can scan all of their out of depository warrants into a batch within LMEsword.

From the batch the account holder can generate a report via the rent calculator containing details of the out of depository warrants to be endorsed and the total amount of rent due on those warrants up to and including 31 March.

This report will be by:

• warehouse agent
• warehouse company
• location
• metal

The account holder will send the warehouse agent their out of depository warrants and a copy of their report. The warehouse agent will scan the entire out of depository warrants presented to them into their batch folder. From the contents of the batch folder, the warehouse agent can generate a report containing details of the out of depository warrants to be endorsed and the total amount of rent due on those the warrants.

If the total on the warehouse agent’s copy of the report matches the account holder's report, then the warrants will be endorsed by the warehouse agent thereby updating the electronic record of the warrants in LMEsword.

A rent endorsement instruction can be created via numerous methods, via:

• the search, batch and account management screen
• the rent endorsement screen
• an upload file

An instruction (excluding a lodge and withdrawal) can have up to 10,000 warrants in it. If you use the automatic buttons via search, batch and account management screens, LMEsword will automatically create more instructions if the limit is reached.

Please select the instruction, click on the amend button and choose the warrants tab to view the notes. The notes will state why the warrants are invalid.

Please complete the outstanding transaction in order to release the warrants to be rent endorsed otherwise rent endorsement(s) will not be possible.

Any in-depository warrants that have not been electronically endorsed as rent paid in LMEsword by the close of business 31 March cannot be transferred as cleared or ex-cleared in LMEsword until such endorsements are made.

On the last business day in March warehouse agents will only accept warrants for rent payment after 12.00 at their discretion. Please ensure payment is made in a timely manner to ensure that funds are received by warehouse companies or agents as applicable before bank closing times.

Payment details will be made available via an LME notice, and can be found under the LMEsword document section. 

Whoever is holding warrants on the 31 March is responsible for paying the rent.