From February 12, all OTC and exchange-traded derivatives (ETDs) must be reported to a trade repository.
LME members will probably opt to use the Depository Trust & Clearing Corp (DTCC), an approved trade repository selected as the exchange’s strategic partner for its new reporting service, LMEwire.
It is a new system that has been customised to the needs of the metals market, and is currently being tested by members before its launch.
The changes are part of the European Market Infrastructure Regulation (EMIR), which requires anyone who has entered into a derivatives contract to report and risk-manage their positions.
The regulations affect...