New Trading platform FAQs | London Metal Exchange

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LMEselect 10 User Types

New trading platform update forum: July 2024

New Trading Platform Update Forum: July 2024 (PDF)

New trading platform update forum: March 2024

New Trading Platform Update Forum: March 2024 (PDF)

New trading platform update forum: November 2023

New Trading Platform Update Forum: November 2023 (PDF)

New trading platform update forum: July 2023

New Trading Platform Update Forum: July 2023 (PDF)

New trading platform update forum: March 2023

New Trading Platform Update Forum: March 2023 (PDF)

New trading platform update forum: November 2022

New Trading Platform Update Forum: November 2022 (PDF)

FAQs

Will IP address ranges change for the new LMEselect v10 and LMEsource v4 systems?
Yes, there will be new IP address for both LMEselect v10 (new trading platform) and LMEsource v4 (new version of multicast market data platform). The IP address and port details for both LMEselect v10 and LMEsource v4 test environment (Market Test B – MTB) are available in the latest version of LME Systems Connectivity Guide. The IP address and port details for the production environment for both LMEselect v10 and LMEsource v4 will be published in due course.

Can you connect via LMEnet lines?
Yes, access to the FIX and BINARY gateways will be available via LMEnet. The new trading GUI, LMEtrader, is provided by Trading Technologies and will be available via the public internet and/or a direct connection to a Trading Technologies point of presence.

Is there a document available showing current LMEselect vs FIX 5.0 capabilities?
No, however the LMEselect Functional Definition document, published in Q1 2023, provides description of the functionality included in the new trading platform.

Will the LME use its existing data centres?
Yes, the current plan is to use existing LME data centres.

Will level 3 data mean higher b/w connectivity requirements for members/ISVs using LMEnet lines?
The minimum bandwidth requirement for LMEsource v4 test environment is 5 MB each for feed A and feed B. You can read about the bandwidth requirements for LMEsource v4 production in detail.

Will multiple languages be available?
No, currently English is the only language supported.

What will be the speed difference between binary and FIX?
The binary gateway has been designed to be faster than the FIX gateway. More detail will available in due course.

Will trading hours change on the new platform?
No, the are no plans to change trading hours.

Will profiles be stored locally so a user gets their same layout and preferences wherever they log in from? Similarly, will profiles be retained whenever there is a new version?
User work spaces are not saved locally. Work spaces form part of the user profile and will be available wherever the user logs into LMEtrader from.

Will profiles have the functionality to be copied from one user to another?
Yes, workspaces can be exported from one user and imported by another.

Is LMEtrader a version of the full TT current ISV solution?
LMEtrader is bespoke to LME however is based on the TT ISV GUI solution.

Is this TT client a web-based application or do you get a special installable version?
LMEtrader is web-based.

Are business units still available in LMEtrader to facilitate segregation of internal order books?
An organisation will have an account hierarchy which reflect the different business entities within an organisation.

Will the LME provide a GUI for risk management?
Yes, LMEtrader on LMEselect v10 will have PTRM functionality. For LMEselect v9, participants still need to use current GUI for Exchange PTRM controls.

Note, LMEtrader also offers a local risk management functionality.

What is the minimum spec for the new trading GUI to operate?

To ensure the best experience, we recommend the following setup:

Browser requirements: LME supports the latest two versions of the following browsers:

Google Chrome
Firefox
Microsoft Edge

Hardware requirements: The developer recommends a minimum of 4GB of RAM on any machine you use to access the TT platform.

Note 1: Users should also verify that cookies are accepted in their browser and verify that the browser is set to automatically update.

Note 2: As Microsoft has discontinued support for Internet Explorer, TT no longer supports Internet Explorer.

Will the trading GUI support member's “self-service” for the creation of user accounts or will this be a service provided by the LME?

All LMEtrader user accounts will be provided directly by the LME on request from the member's compliance team and are for use on the LME market only.

Will the new Trading GUI mean we are exposed to TT charges (screen fee, MAP fees, etc.)?

Commercial arrangements for accessing LMEtrader on LMEselect v10 will follow in due course however will be managed directly with the LME, not TT.

Note, there are no charges for using LMEtrader on LMEselect v9.

Can member clients access the new GUI?

Yes, member clients will be able to access LMEtrader on LMEselect v10 only where such member is located in a jurisdiction in which the LME is permitted to access.

If a user has to restart or re-log in to the platform due to a connection issue will the trading GUI re-connect automatically?

LMEtrader will automatically reconnect in the event of a connection failure, e.g. the PC system/network loses connection, however if the PC system is restarted/rebooted, the user will likely be required to login in using their credentials.

Will the existing LMEselect GUI be available with new trading platform?

No, the existing LMEselect v9 GUI will not be available on the new trading platform. LMEtrader will be available for LMEselect v9 for a period of time before the migration to LMEselect v10. After the migration to LMEselect v10, LMEselect v9 will be decommissioned.

Will the new trading platform GUI be mobile compatible?

Yes, LMEtrader will be available for LMEselect v10 on iOS devices only. However it will not be available on initial go-live of LMEselect v10.

Will suitable training materials be available for client users of the trading GUI?

The LME will adopt a 'train the trainer' approach, whereby LME Market Operations will contact members to provide training on trading and administrative functions of LMEtrader. There will also be user friendly online user guides.

Will LME valuation prices be available in the new trading platform GUI, and/or FIX?
LMEtrader will display all prices made available by the LME via LMEsource v4. Any prices not published will be calculated by LMEtrader as a guide.

Will updates be deployed automatically, with no need for each user to manually install?
Yes, LMEtrader will be a “thin” web client, so updates will all be delivered automatically.

Will LMEtrader GUI be supported on both LMEselect v9 and LMEselect v10?
Yes, LMEtrader GUI is supported on both LMEselect v9 and v10. All members users using current LMEselect GUI for order routing need to migrate to LMEtrader on LMEselect v9 by end of December 2023. Participants using current GUI for other user roles can continue to use until LMEselect v10 goes live.

Will there be a separate login for LMEtrader GUI on LMEselect v9 and LMEselect v10?
No, same LMEtrader GUI login will work on both LMEselect v9 and LMEselect v10. The LME will provide more details on this migration in due course.

Will LMEtrader GUI show the order and trades entered via ISVs or participants in-house platform like current LMEselect v9 GUI?
No, LMEtrader GUI will only show the order and trades entered/done via LMEtrader GUI. This will be same case for both LMEselect v9 (current platform) and LMEselect v10 (new platform). Participant can connect directly to LMEselect v10 drop copy feed to receive and maintain status of order and trades entered by all trading users via different platforms.

How can I manage my orders in LMEselect v10 during outages/connectivity issues?
Participant can connect directly to LMEselect v10 drop copy feed to receive and maintain status of all order and trades entered by all trading users via different platforms.
Participants can use “Kill Switch” functionality in LMEptrm module (part of LMEtrader v10 GUI) to cancel orders at different levels in hierarchy.
In addition, participants can use “cancel on disconnect” flag on day orders for system to cancel the orders in case of ungraceful disconnect.

Will current LMEselect v9 GUI be available until final market cut over / migration weekend to LMEselect v10?
Yes, members can continue to use LMEselect v9 GUI for both trading and non-trading user roles until the cut over date. However, LME strongly recommends members to migrate to LMEtrader GUI for trading role in advance to ensure smoother transition.

Is LMEtrader v10 GUI in production/live environment be made available prior to final market cut over / migration weekend?
Yes, LMEtrader v10 GUI in production environment will be made available to member Admin users from mid-August onwards to complete tasks such as configuring risk accounts, PTRM limits, OTD profiles etc.

Can I use current LMEselect v9 GUI on new platform (LMEselect v10)?
LMEselect v9 GUI is not compatible with LMEselect v10. Participants can only use LMEtrader v10 GUI on new platform or can use ISVs GUI/software that have written to new platform. Note, LMEselect v9 GUI will be disabled post new platform goes live.

Can I enter Options using LMEtrader GUI on both current and new platform?
Options will not be available in LMEtrader v9 GUI.
Please note, Options will not be enabled in LMEselect v10 including LMEtrader GUI as part of initial go-live, but are planned for future release.

Is there any conformance testing needed from LMEtrader GUI users only?
No scripted conformance testing is required for LMEtrader GUI. However Members will be required to confirm to LME that they had completed their own testing/familiarisation for LMEtrader GUI.

Binary Specification - legs body fields presence map execution report

The Binary Spec requires updating as the legs body field presence map incorrectly shows all legs of a carry appearing in the same presence map. Each leg of a carry should have a separate leg body field presence map.

Should you experience first time login issues for binary users

When submitting a request to change the password on first login, you are required to prefix the existing password with a timestamp before encryption: e.g. “2023111416480MyExpiredPassword@123”, but please be reminded that the new password should not include the timestamp before it is encrypted. The timestamp should only be used for the login password.

Will the new trading platform replace the existing LMEselect FIX Drop Copy?
Yes the new LMEselect v10 will have a new FIX Drop Copy. Please refer to the timeline page for useful information and documentation for the new trading platform.

Will Order ID for orders entered in LMEselect v10 (new trading platform) going to be published on existing tag 5939 (SelectOrderNumber) on LMEsmart API?
Yes the Order ID/number from LMEselect v10 will be published on tag 5939, however there is change to the order id format in LMEselect v10 as compared on LMEselect v9 (existing electronic trading platform).

Example of Order Number on LMEselect v9: ON-ZS-20150114-000956 (Existing format)

Example of Order Number on LMEselect v10: 21180010000000005 (A unique order identifier assigned by the LMEselect v10 system)

Will tag 5939 (SelectOrderNumber) contains Order IDs from both LMEselect v10 and LMEselect v9 during product migration phase?
Yes, once LMEselect v10 goes live and whilst LMEselect v9 coexists, this tag will either contain the new LMEselect v10 order number or the existing LMEselect v9 order number. Once the migration of all products to LMEselect v10 is completed only the LMEselect v10 order number will be sent.

Will Trade ID for executions done in LMEselect v10 be published on existing tag 5940 (SelectTradeNumber) on LMEsmart API?
Yes the Trade ID/number from LMEselect v10 will be published on tag 5940, however there is change to the trade id format in LMEselect v10 as compared on LMEselect v9.

Example of Trade Number on LMEselect v9: TAZS20100331X0000001 (Existing format)
Example of Trade Number on LMEselect v10: 21180010000000001 (A unique trade identifier assigned by the LMEselect v10 system)

Will tag 5940 (SelectTradeNumber) contains Trade IDs from both LMEselect v10 and LMEselect v9 during product migration phase?
Yes, once LMEselect v10 goes live and whilst LMEselect v9 coexists, this tag will either contain the new LMEselect v10 Match ID or the existing LMEselect v9 trade ID. Once the migration of all products to LMEselect v10 is completed only the LMEselect v10 Match ID will be sent.

Do I need to make changes in processing of LMEselect Trade Number/Order Number coming from LMEsmart or LMEmercury API?
If you have any internal logic built around the existing LMEselect v9 identifiers (order or trade ids) received via the LMEsmart or LMEmercury API, then you might need to update that logic as during the migration period / post it, both IDs will have a new format from LMEselect v10.

Will we have recovery retrans/refresh for the new Futures channels during the testing phase?
Yes, the retransmission and recovery services will be available during the customer testing phase.

Will there be convenience gateways in addition to partition gateways?
The proposed market design is based on “partitions.” Each partition is configured for a set of contracts and comprises a dedicated partition-specific gateway, PTRM and matching engine. The current design assumes two partitions. Access to individual partitions is provided via the partition specific gateways, whilst access to all partitions is provided via the convenience gateway.

Currently we connect to fsdc.select.prd.lmexgw.com using a single sender comp id. With the new partitions, will we be given two sender comp ids, one each for a partition, or would we need to only connect to the convenience gateway?
If accessing via the Convenience Gateway then a single CompID will provide access to all partitions. However if accessing via the Binary gateway then a separate CompID will be required for each partition.
- Gross Short / Long Qty
- Net Short / Long Qty
- Per Order Qty
- Per Order Notional Value

Members will be able to set limits at various levels of the product hierarchy and for different ""risk groups"" which will contain 1 or more end client references. A limit value for each configuration will be mandated.

Should you experience issues relating to password encryption, we have provided the following example to assist. This example been created from our LME test tool on the preparation of the public key for encrypting the password on a FIX session connection.

public static String encrypt(String value) throws CrytographyException {
try {
Cipher cipher = Cipher.getInstance("RSA/ECB/OAEPWithSHA-1AndMGF1Padding");
cipher.init(Cipher.ENCRYPT_MODE, publicKey);
byte [] bytes = cipher.doFinal(value.getBytes());
return Base64.getEncoder().encodeToString(bytes);
} catch (NoSuchAlgorithmException | NoSuchPaddingException | InvalidKeyException | IllegalBlockSizeException | BadPaddingException e) {
throw new CrytographyException(e.getMessage());
}
}
…….

String pubKey = new String(keyBytes, "UTF-8");

pubKey = pubKey.replaceAll("(-+BEGIN PUBLIC KEY-+\\r?\\n|-+END PUBLIC KEY-+\\r?\\n?)", "");

pubKey = pubKey.replaceAll("(-+BEGIN RSA PUBLIC KEY-+\\r?\\n|-+END RSA PUBLIC KEY-+\\r?\\n?)", "");

pubKey = pubKey.replaceAll("\\n|\\r","");

KeyFactory keyFactory = KeyFactory.getInstance("RSA");

X509EncodedKeySpec keySpec = new X509EncodedKeySpec(Base64.getDecoder().decode(pubKey.getBytes()));

publicKey = keyFactory.generatePublic(keySpec);

What appropriate capability participants required to support a rollback post cut over to LMEselect v10? Will there be a rollback test done prior to go live?
The LMEselect v9 and LMEselectMD/LMEsource(v3) systems will still be available for a period of time, however the LME will block participants access to these systems once LMEselect v10 and LMEsource v4 are live.

Participants are required to keep their LMEselect v9 and LMEsource v3 credentials/software for a period of time in case rollback is required.
The LME will confirm in due course if external roll back test will be scheduled prior to go-live.

Will LMEselect v10 production environment be available during the normal trading hours only or also during the weekends during parallel run period?
LMEselect v10 production environment will only be available during normal weekday trading hours.

Is Dress Rehearsals of new platform going to be planned during the weekends or weekdays?
Schedule and scope of Dress Rehearsals will be published in due course.

Is orders and trades done on LMEselect v9 (current) platform going to be published on new platform LMEselect v10 FIX drop copy feed during parallel run?
No, there is no backward compatibility between current and new platform. LMEselect v10 FIX drop copy feed will only receive details of orders and trades done in LMEselect v10 platform.

Will the new trading platform timestamp down to the nanosecond?
Timestamps will be represented as UTC up to microsecond precision with the nanosecond element being represented by trailing zeros. Please refer to the timeline page and review the "Data Types" section in the Order Entry FIX and Binary Specifications.

Will there be "Futures" custom-built strategies?
Yes, it will be possible to create "futures" custom-built strategies within the same metal.

Will drop copy be available via FIX and binary?
Drop copy will only be available via FIX, however will contain execution report copies as a result of activity on both binary and FIX order interfaces.

How many additional implied routes will be available?
The exact details of available routes will be announced before go-live.

Will order entry be available via FIX?
Yes, order entry will be available via a new FIX 5.0 sp2 interface. In addition the LME will be providing a proprietary binary interface.

Will orders be cancelled if a member loses connection and delayed longer than minute?
This is configurable, graceful vs ungraceful disconnect and resulting actions are described in section 3.11 in FIX Order Entry and Binary Specification.

Will members be able to specify if they want their orders to be inactivated when they log out as opposed to disconnecting?
No, a warning highlighting the number of active orders is displayed at the point of logging off. The warning presents an option to continue / confirm the log off or cancel. The user is responsible for determining how best to manage any active orders prior to logging off.

Will discretionary order types be available?
No, discretionary order types will not be supported in the new trading platform.

Will you support the creation of inter-product strategies, e.g. PB 3M v ZS 3M?
No, inter-product strategies will not be supported in the new trading platform.

Will you support the creation of a Market or MarketToLimit style order types?
Please follow this link to the timeline page and refer to the FIX specification for a full list of order types included.

Will PTRM allow a member to set pre-trade risk limits at a client entity level, rather than per account? For example one client may have many sub-accounts but the member may often want to manage the risk for the client overall, not per sub-account?
Members will have the ability to create logical groupings of “end clients ”, these logical groups will be called “risk groups”. These risk groups can be configured to contain one or many “end clients”. Each “end client” can only be within one risk group. PTRM limits are set per risk group.

Will PTRM allow start of day positions and/or equity to be uploaded by the member so that pre-trade risk can be controlled on a total position/margin basis, rather than intraday only?
PTRM limits will initially be set to zero by default, with Members being required to configure limit values to allow order entry. PTRM utilisation levels reset to zero at the start of every day and will update automatically to reflect electronic order and trade activity. Members will be able to manually adjust PTRM limit settings throughout the day if they wish to reflect total positions.

Will the PTRM limits apply across LME venues or only to electronic trading?
PTRM limits will apply to electronic trading only.

If cash/margin limits are available, will this be gross (based on outright positions per prompt) or will there be some concept of spread margin?
It will be possible to set separate PTRM limits for outright orders and carry orders. These limits will be a combination of both gross and net order volumes. Further details to follow in due course.

Will there be an option to upload existing TAG58 (PTRM Risk Accounts) from current platform to LMEptrm GUI in new platform?
Yes, there will be an option to upload TAG58 details from LMEselect v9 to new LMEptrm GUI (part of LMEselect v10). The LME will provide steps required to get the data into the right format for the new LMEptrm GUI and the process to upload that data in due course.

Is there an option to mirror PTRM settings from LMEptrm GUI in UAT environment to production environment?
No, it will not be possible as UAT and production are two separate environments.

Will there be any new FIX tags on both LMEsmart and LMEmercury API feed?
No, there be no new FIX tags introduced as part of the new trading platform in LMEsmart or LMEmercury however Order ID and Trade ID format will change.

Please refer to LMEselect v10 FAQ section.

Will there be a change to values in tag 581 (AccountType) on both LMEsmart and LMEmercury API to reflect what is in LMEselect (v9 or v10)?

For LMEselect v10, the account type values (TAG 581) will be different for LMEsmart and LMEmercury. The values will also be different between LMEselect v9 and LMEselect v10.

Please note that the same enumeration can identify different account types depending on the system and that the client ISA account type is the only type with a consistent value across all the interfaces. (see table below)

Values in LMEselect v10

1 = Client ISA

3 = House

101 = Client OSA (Omnibus)

8 = Gross OSA

Values in LMEselect v9

1 = Client ISA

2 = House

3 = Client OSA (Omnibus)

7 = Gross OSA

Values in LMEsmart (and LMEmercury)

1 = (Client) ISA

2 = House

3 = (Client OSA) Omnibus

7 = Gross OSA

Will there be changes to current instrument definition (i.e. the instrument block) on both LMEsmart and LMEmercury interface to reflect new Tradeable Instrument ID (Security ID) as per LMEselect v10 interface?
The instrument definition (i.e. the instrument block) will remain same (i.e. unchanged) on both LMEsmart and LMEmercury interface. This will be the case both during product migration phase and even after all products are migrated to LMEselect v10.

Will tag 5941 (SelectImpliedTrade Number) going to be populated on LMEsmart API for Implied trades executed on LMEselect v10?
The SelectImpliedTrade Number (5941) will include similar kind of details as they are sent today for Implied trades executed in LMEselect v9.

Will LMEmercury reports be affected, e.g. COD, FSM, OPP, TRD as part of LMEselect v10 go-live?

For LMEselect v10, the account type values (TAG 581) will be different for LMEsmart and LMEmercury. The values will also be different between LMEselect v9 and LMEselect v10.

Please note that the same enumeration can identify different account types depending on the system and that the Client ISA account type is the only type with a consistent value across all the interfaces. (see table below)

Values in LMEselect v10

1 = Client ISA

3 = House

101 = Client OSA (Omnibus)

8 = Gross OSA

Values in LMEselect v9

1 = Client ISA

2 = House

3 = Client OSA (Omnibus)

7 = Gross OSA

Values in LMEsmart (and LMEmercury)

1 = (Client) ISA

2 = House

3 = (Client OSA) Omnibus

7 = Gross OSA

Will member exchange reports (e.g. EODM, etc.) be affected as part of LMEselect v10 go-live?
The member exchange reports (e.g. EODM, etc.) generated on T+1 will have no new fields and no changes to existing formats, however will show values accordingly in fields resulting from executions done in either LMEselect v10 or LMEselect v9 systems during product migration phase and will show values of LMEselect v10 only post all products are migrated to LMEselect v10.

Will there be any change between Members and LME Clear with the introduction of the new trading platform?
While the new trading platform itself does not impact the LME Clear API directly, the LME is developing its IT architecture which means there might be some changes to the LME Clear API over the next few years. We will notify participants of any changes in due course.

If we are already connecting to the Hong Kong Futures Exchange can we expect for this to be largely the same?
HKEX currently have two platforms for multiple exchanges. SEHK (Stock Exchange of Hong Kong) currently runs on this technology therefore members that connect to this exchange will experience similarities between the SEHK and the new trading platform. HKFE (Hong Kong Futures Exchange) currently runs on NASDAQ’s Genium meaning there will be significant differences between their platform and the LME’s. The overarching plan is for the Hong Kong Group to be on one architecture.

Will the new trading platform significantly alter the ordering of publication of events between the private feeds (binary gateway fill messages) and the public feed (LMEsource trades)?
The LME will provide further details on this subject in due course.

Does LMEsource v4 include information such as Settlement Price and Open Interest?
These message sets are part of non-electronic market data and will be available on LMEsource v4.

What is meant by non-electronic data?
Non-electronic data is all data except LMEselect v10 bid, offer and trades. It includes Ring (order and trades), inter-office (order and trades) and market data reports.

Will there be a significant difference between LMEsource v3 and LMEsource v4?
There is no change to the technical behaviour or the method of access to LMEsource with the v4 release.

The use of dual multicast channels, retransmission and refresh services will remain as today. LMEsource v4 will however include data pertaining to the Electronic, Ring and Inter-Office markets. This will require changes to the specification of individual messages (i.e. to accommodate the new functionality offered by LMEselect v10) and the introduction of new messages (to accommodate Ring and Inter-Office markets).

For the electronic trades market LMEsource v4 will include:

all functionality offered by LMEselect v10
orders and trades available together in the same market data channel
reference data, providing a full list of securities/tradeable instruments
publication of ISINs in the reference data channel
level 3 product: new order-by-order events published from the electronic marketFor the Ring and inter-office markets LMEsource v4 will include:

LME reference prices (e.g. LME Official Prices, LME Closing Prices, LMEbullion prices)
inter-office and Ring orders and trades
inter-office and Ring reference data
trading volume data
warehouse stock data
risk data (e.g. open interest and futures banding)

Is level 3 market data optional?
Yes, level 3 market data is an optional subscription from LMEsource v4 available to market participants.

Will there be any netting of market data fees for a user if they use LMEtrader and TT ISV GUI?
They are two completely independent services and will be charged separately. Commercial arrangements for subscriptions will follow in due course.

Will FIX market data be available?
No, LME market data will only be available via LMEsource v4 (multicast market data feed).

With the decommission of LMEselectMD, will there be a period of time where it runs in parallel with LMEsource v4 with both in production?
For non-electronic market data there will be a short period of parallel running where data is available on both LMEselectMD and LMEsource v4. For electronic market data there will not be period of parallel running.

Will there be one channel for all futures and one channel for all options?
Yes, there will be separate channels for futures and options. Details of multicast groups/packages that will be available on LMEsource v4 will be published in due course.

Will SPAN parameters (or VaR when live) be available via LMEsource v4?
No, this is not part of LMEsource v4.

Will there be different fees associated with the level 1, 2 & 3 subscriptions?
Will existing vendor of record solutions by ISV need updating to reflect this? Commercial arrangements for subscriptions will follow in due course.

How I can map Reference prices received on LMEsource v4 to an Electronic tradable instrument?
Reference prices are published at instrument level in the Reference Price (401) message for the following price types:

• Official
• Unofficial
• Settlement
• Closing
• Index
• Average

Instruments are published in the Instrument Definition (303) message with a unique InstrumentID.
To identify the reference price for an electronic tradable instrument, the ContractCode, ExpiryDate and ISIN in the Outright Definition (301) message can be mapped to the ContractCode, ExpiryDate and ISIN in the Instrument Definition (303) message to obtain the InstrumentID and a lookup into the Reference Price (401).
Note multiple tradable instruments in both the electronic and non-electronic markets can map to a single InstrumentID, as shown in the following example:

Venue	Tradable Instrument	TradableInstrumentID	InstrumentID
Electronic	3M	86236	11111
Electronic	Dated equivalent of 3M	31963	11111
Electronic	3M TAS/TAR	31970	11111
Ring	3M	96200	11111
Inter Office	3M	97300	11111

Is electronic market data from LMEselect v9 going to be published on both LMEsource v3 and LMEsource v4 during parallel run?
There will be no parallel run between LMEsource v3 and LMEsource v4 for electronic market data. Note, Electronic market data from LMEselect v9 will only be published on LMEsource v3.
More details on parallel run and market data that will be published on LMEsource v4 during parallel run will be confirmed in due course.

Will electronic reference data published on LMEsource v4 during parallel run match the current production system?
No, Reference data published on LMEsource v4 will be from LMEselect v10 production. Note, Reference data details published on LMEsource v3 and LMEsource v4 comes from LMEselect v9 and LMEselect v10 respectively and cannot be compared.

Will the reference data be a separate product for consumers that do not require pricing data only end of day?
No, it is not the intention to provide a separate reference data product. Instead each market data product will include both reference data and prices.

Is reference data available on order entry or drop copy server?
No, reference data (e.g. security list message) will not be available on order entry or drop copy server in the new trading platform. There will be separate channels on LMEsource for reference data.

Will there be any changes to current Tradable Instrument File (TIF) as part of new trading platform.
There will be no changes to existing TIF file as part of new trading platform.

Is Electronic Tradable Instrument Data File going to made available in production on SFTP?
Yes, Tradable Instrument Data file having Security ID’s (TradabaleInstrumentID) details for Electronic Tradable Instruments will be published in production with LMEselect v10 goes live. Timelines on the availability of file will be confirmed in due course.

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