Date
16 July 2018

LME eyes 52 mln pounds from new clearing platform, paper says

The London Metal Exchange (LME) will move to its own clearing platform in the second half of next year, and is expected to maintain the fee structure charged for contracts by its current service provider the London Clearing House Limited and Clearnet (LCH.Clearnet), the Hong Kong Economic Times reported over the weekend, citing LME sources. By adopting the same registration fee of 15 pence (24.05 US cents) per contract currently charged by LCH.Clearnet, LME would be able to generate a revenue of 52 million pounds a year, based on an estimated 174 million contracts per year, the report said. For the six months to June, LME processed 86.78 million contracts, up 9 percent from a year earlier, it added.

– Contact HKEJ at [email protected]

EL/AC/CG

 

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