LME still undecided on electronic close prices after trial; consultation extended

The London Metal Exchange has extended the consultation period on the issue of using electronic closing prices until September 30, 2019.

On March 18, the LME began a trial in which the three-month nickel closing price was determined exclusively by reference to an LMEselect pricing window via the volume weighted average price (VWAP) function.
The LME also introduced a trade-at-settlement (TAS) function for the same contract.
The trial ended on June 18, and the three-month nickel close price returned to the ring on June 19.
After the trial, there was a deadline of July 2 for industry members to give their feedback on the trial, but the exchange said that it had not received any formal feedback.

The exchange was now seeking feedback from members, clients and other interested parties, in order for...


Alice Mason

August 12, 2019

17:30 GMT