LME outlines Brexit contingencies; European member trades in question after March 29

The London Metal Exchange may be unable to provide clearing services for all of its European Union-based members immediately after the United Kingdom leaves the EU, it said in a notice to members on Thursday September 13.

The UK is set to leave the EU on March 29, 2019. After this date, LME Clear may only be able to continue providing clearing services to members in countries where it is recognized by the European Markets and Securities Authority (ESMA) as a "third country Central Counterparty" or CCP. The LME is...


Hassan Butt

September 14, 2018

11:52 GMT