LME issues consultation for OTC booking fee, new rules

The London Metal Exchange has launched a consultation on its introduction of a new over-the-counter (OTC) booking fee and changes to rules in respect to third-party platforms.

The new proposed fee will be $1 per equivalent LME lot. The LME had originally intended for the OTC booking fee to be payable from January 1, 2018, but it is now proposing that the OTC booking fee be payable from April 3, 2018. “[This extension] members and their affiliates extra time to understand their obligations under the financial OTC booking fee policy and make appropriate arrangements for reporting,” the LME said in a notice on Wednesday November 22. “Furthermore the LME has introduced a set of fee waivers, discounts and offsets in the...

Published

Alice Mason

November 22, 2017

12:03 GMT

London