The London Metal Exchange (LME) has today announced that it will stage a number of free international roadshow presentations to support the launch of the LMEmini contracts, which commence trading on 20 November 2006.

Roadshows commence in London and Chicago as follows, with future events planned for the USA and Asia in early 2007:

• London - 31 October 2006, Marriott Grosvenor Hotel
  • 9am – 12pm, including exhibition of members, ISVs and data vendors
    
    
• Chicago – 28 November 2006, Hyatt Regency Hotel (alongside FIA Expo)
  • 3pm – 4.30pm, including system demonstrations from members and ISVs

Full details of these free events, and how to register, can be found on the LME website at: www.lme.com/lmemini-events.asp

Commenting on the activity, Martin Abbott, LME Chief Executive, said:

“LMEminis are accessible, transparent and electronically-traded monthly contracts, and will appeal to all those looking for a simple way to trade base metals on the LME.

“These important events will help those interested in LMEminis to understand the new contracts, the mechanics of how they trade, and the significant benefits they offer to market participants.”

LMEminis - Further Details:

1. The LME announced on 22 September that it would launch, on 20 November 2006, LMEmini contracts, initially for Copper Grade A, Primary Aluminium and Special High Grade Zinc
2. Lot sizes of 5 metric tonnes, with the underlying specification the same as for the full-size parent contracts
3. Tradable on LME Select only
4. Tradable for one prompt date (Third Wednesday of the month) per month for 12 months forward
5. Cash settled (i.e. not deliverable) against the Official Settlement Price of the full-size, parent LME contract announced on the cash day for the third Wednesday settlement.
6. Margining will be on a daily marked-to-market basis
7. The first tradable month will be December 2006
8. Trading currency will be US dollars only
9. Trading will cease at 12.30 hours on the cash day for the Third Wednesday prompt
10. The closing price for the relevant full-size metal contract, as at trading floor closing time, will be used for calculating margins

Notes for Editors

1. Martin Abbott assumed the role of Chief Executive of the LME on 2 October 2006. He succeeds Simon Heale, the outgoing CEO, who has been with the Exchange since 2001.
2. The LME is the world’s premier non-ferrous metals market and had volumes of 78 million lots in 2005, which equates to around $4,500 billion.
3. Trading at the LME takes place through open outcry in ‘the ring’, through an inter-office telephone market and through LME Select.
4. The LME commenced trading in polypropylene and linear low density polyethylene futures contracts on 27 May 2005.
5. The LME announced its intention to develop risk management tools for the steel industry in October 2005, and in May 2006 confirmed that it will work with Platts to publish references prices for steel. If the references prices gain acceptance with industry the LME will consider launching futures contracts, settled against the reference prices.
6. The LME announced on 22 September that it would launch, on 20 November 2006, LMEmini contracts for copper, aluminium and zinc. LMEminis are cash-settled, electronically traded monthly futures contracts in lot sizes of 5 tonnes, with the same specification as the Exchange’s parent contracts.

Press enquiries to:   Adam Robinson on 020 7264 5532