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|This article describes a futures exchange on which futures contracts are traded. Click here to view articles referencing this exchange.|
The London Metal Exchange is a futures exchange located in London, England. In addition to its eponymous metal futures contracts, the exchange also facilitates contract trading in plastics futures.
The exchange is generally abbreviated LME.
Wikinvest does not currently cover futures contracts on the LME. Check back soon to see when the data becomes available.
In addition to open outcry ring trading and the telephone market, online trading is available through LMEselect, an exchange operated electronic trading platform. The online system is open between 01:00 and 19:00 (London Time).
The system allows trading on all LME contracts, futures, options, traded average price options (TAPOs) and carries. It also allows straight through processing whereby LMEselect trades will automatically be sent to the matching systems and for clearing by LCH.Clearnet. .
The system enables LME members, such as ED&F Man Capital Markets to connect their clients directly to the LMEselect trading system via third party applications, a process known as ‘order-routing’.
A number of Independent Software Vendors (ISVs) that have passed LME conformance tests for order routing applications connecting via the LMEselect API of which the following are supported by ED&F Man Capital Markets:
CQG, Inc. FFastFill Patsystems RTD Tango (RTS) Trading Technologies International, Inc. .
It is possible to trade via the Select API or via the API’s of Independent Software Vendors (ISVs). More information at http://www.online-lme.com/about-lmeselect