LMEsource is the real-time and multicast market data platform from the London Metal Exchange. It provides the market with a high through put and low-latency market data feed in binary message format.
It works alongside LMEselect and includes both electronic and non-electronic (ie Ring and Inter-office) market data along with the addition of an order-by-order/level-3 data.
Market data – electronic trading
Key features
- Level 3 product: 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
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 production bandwidth requirements
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 production service.
The LME will periodically review and update participants on bandwidth requirements from time to time. Please refer to Table 2 below 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 (pdf) document.
- The bandwidth figures shown in Table 1 are for a single LMEsource multicast product and a single market data feed in Production.
- The new multicast channels for Electronic Options will be part of the Core multicast groups (C1, C2 and C3).
- A separate Retransmission Service (RTS) user will be required for Electronic Options.
- Please refer to Table 2 for a high-level summary of the market data available across each multicast product. Further details of the messages published on each multicast channel/product are available in section 9 of the LMEsource v4 Client Interface Specification.
Table 1: Single LMEsource multicast product and single market data feed - Production
| Multicast products | Electronic (Mbps) | Non-electronic (Mbps) | Electronic Options (Mbps) |
| Core 1(C1) - Level 1 : Top Of Book |
26 | N/A | 46 |
| Core 2(C2) - Level 2 : Aggregate Depth |
51 | 123 | |
| Core 3(C3) - Level 3 : Order by Order |
53 | 199 | |
| Growth 1(G1) - Level 1 : Top Of Book |
6 | N/A | N/A |
| Growth 2(G2) - Level 2 : Aggregate Depth | 10 | N/A | |
| Growth 3(G3) - Level 3 : Order by Order |
7 | N/A | |
| Algo Test (A1) - Level 2 + Level 3 |
4 | N/A | N/A |
Table 2: Multicast Products Summary
| Core Multicast Products (C1, C2 and C3) |
Includes data for the Base contracts - C1 product includes electronic market data for both Futures and Options, as well as reference data from all venues - C2 and C3 products include both electronic market data (Futures and Options) and non-electronic market data (Inter-office, Ring, Reference Prices, Positions and Stocks) 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 |
| 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:
- An additional 2 Mbps per RTS session when connecting separately to the LMEsource v4 Retransmission Service (RTS) in either the Test or Production environment.
- For each LMEsource v4 Test environment (MTA and MTB), 5 Mbps is required for the existing Electronic Futures and Non-Electronic market data feeds combined. A separate additional 5 Mbps is required for the Electronic Options multicast market data feed.
If you need further guidance or have any questions related to bandwidth requirements please email the LME Technical Account Management team.
Trades and volume reporting
Please see below rules on reporting trades and volumes on LMEsourcev4.
Trades published on LMEsourcev4 along with volume included at EOD.
Member trade publication
| LMEselect (electronic) | Ring | Interoffice - normal trades | Interoffice - give ups and admin | ||
|---|---|---|---|---|---|
| Futures | Trade messages | Y | Y | Y | N |
| Volume | Y | Y | Y | Y | |
| Options | Trade messages | N/A | N/A | Y | N |
| Volume | N/A | N/A | Y | N | |
Client trade publication
| LMEselect (electronic) | Ring | Interoffice - normal trades | Interoffice - give ups and admin | ||
|---|---|---|---|---|---|
| Futures | Trade messages | N | N | N | N |
| Volume | Y | Y | Y | N | |
| Options | Trade messages | N/A | N/A | Y | Y |
| Volume | N/A | N/A | Y | Y | |