LME will slash member fees as part of package to soothe concerns

The London Metal Exchange will cut members' fees for short-dated carries, review its incentive programmes for boosting electronic trade and cap charges for member and client position transfers, the exchange said.

It is also seeking regulatory approval from the Bank of England to reduce the initial margin payable to LME Clear for LME positions, in particular for aluminium and copper. The moves follow a series of discussions with members and their clients over the past few months and comes after pressure on the exchange to respond to market dissent over the cost of doing business has ratcheted up. The exchange said the goal of the measures is to optimise its market structure, strengthen its role as the global liquidity centre for metals trading, and facilitate enhanced trading...

Published

Andrea Hotter

August 05, 2016

18:15 GMT

New York