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Traders should consult the LME website for the specific trading windows for individual metals. This structure enables futures participants to actively hedge their risk down to the exact day. LMEbullion is a real-time auction system. The LME operates an inter-office telephone market for trading 24 hours a day. The exchange matches, settles, and clears telephone trades the same way it does trades conducted in the Ring or electronically.
The LME is regulated by different entities in the jurisdictions in which it operates:. The FCA is a UK financial regulatory body that operates as a non-governmental watchdog group for the financial services industry. These changes went into effect in January LME operates a private dispute resolution system to adjudicate disputes between traders and member firm fairy and economically. LME arbitration rules require that the parties to a dispute allow a third party to make an independent and binding decision about the outcome.
In , traders formed the Royal Exchange in London to trade physical metals for the domestic market. European merchants began arriving in London to partake in the growing metals trade. By the early 19th century, it had grown so large that the Royal Exchange no longer provided an adequate venue for transacting business. Individual traders began meeting in local coffee houses and soon created the concept of the Ring.
The Ring formed the basis for the open-outcry trading floor on the LME. The Industrial Revolution in the 19 th century led to profound changes in metals consumption. The United Kingdom, which heretofore had been self-sufficient in copper and tin, now required the importation of large tonnages from abroad. This change caused problems for metals consumers and producers. Ships carrying metals from Malaya and China often took months to arrive in British ports. Metals buyers had no way of knowing what the prices would be when the shipments finally arrived.
Metals sellers feared prices might drop by the time their shipments arrived. To solve this problem, merchants and buyers began transacting forward contracts to lock in prices for future deliveries. The expanding trade in metals and forward contracts led to the formal establishment of the London Metals and Mining Company in Membership increased rapidly, and soon the exchange moved to a larger facility.
LME has seven categories of membership within the base metal service and three categories of membership within its LMEprecious service. Prospective members should consult the LME membership section of the website for forms and more details. Traders post initial margin based on the riskiness of a position and any possible offsets the model may apply.
However, LME Clear must ensure that the exchange employs the necessary procedures to protect market integrity and safeguard market participants from systemic risk. LME Clear may require additional margin to account for factors such as illiquidity, concentration risk in an asset class or other factors. LME charges several types of fees to traders:. These prices derive directly from trading and are used for futures settlements and margin calculations. The LME Asian reference price provides an early indication of metals prices based on trading in Asian markets.
LME attends and sponsors many industry conferences and events throughout the year. Traders should consult the calendar on the website for a list of upcoming events and registration information. Courses include live in-person instruction as well as customized training for organizations and companies in the metals community. Courses take place in major cities across the globe. Traders can find a schedule and course fees, where applicable, on the LME website.
Members and their clients can access the LMEselect platform via one of the approved ISVs with whom the exchange works. The list of companies that have passed conformance tests for routing through the LME platform can be found on their website. Skip to content. Disclosure: Your support helps keep Commodity. Learn more Contents What is the London Metal Exchange?
Warehousing To accommodate physical delivery of metals, LME approves and licenses a network of metals storage facilities around the globe. LME Gold Prices for [[ item. Go To:. Intraday End-of-Day. Main View Technical Performance Custom.
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The LME is the trading and price-formation venue of choice for industrial metals globally · Featured non-ferrous last traded 3-month prices, 15 minutes delayed . LME Index decreased points or % since the beginning of , according to trading on a contract Commodity; Forex; Index; Stock; Bond; Crypto. EUR/USD LME-FX-rate (MTLE) (Dollar/Euro). Dec Feb Mar Apr May