In addition to the LME
, other global exchanges and clearing houses including the Singapore Exchange, CME Group, LCH Clearnet, Intercontinental Exchange (ICE), Borsa Istanbul and NASDAQ OMX, utilize Platts and or TSI price assessments for settling and clearing ferrous derivatives contracts.
2 million (US$ 593 million) for the same period in 2014, a drop of 17% YoY due to lower LME
Then there was last month's single-day delivery of almost 100,000 tonnes of aluminium into LME
locations in Asia.
There are no known firewall issues with the new LME
The association is intended to allow LME
Clear to accept RMB as eligible cash collateral from its members for margin cover purposes.
But in an attempt to remedy that, the LME
last year announced plans to reform the system that included linking load-in to load-out rates and cutting maximum warehouse queues to 50 days.
stocks movements may be a poor indicator of underlying dynamics in the metal markets, but they do at least provide a useful fiction with which to weave a good story.
Goldman and the LME
have been sued in the US on the allegations.
is the world's largest spot and futures exchange for non-ferrous metals.
board met to review the offers, submitted by the May 7 deadline.
The partnership between Cinnober and the LME
began back in 2003, when the Swedish supplier delivered its first version of the LMESelect platform, based on its proprietary TRADExpress technology.
Several large steel companies including ArcelorMittal have rejected the need for a futures contract, but the LME
as well as banks, brokers and merchants, who have staked time, money and resources on making it work, are optimistic.