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The London Metal Exchange is the world’s premier metals market used as a reference price by more than 90% of the world’s physical metals trading.
Since its establishment in 1877 the LME has successfully provided transparent prices and a forum for price risk management to the global metals industry. In 2008 it generated an annual turnover of 10.2 trillion USD with traded volumes exceeding 2.7 billion tonnes.
The Exchange has built long-term relationships within the metals and financial communities and provides transparent prices, and a forum for price risk management to the global metals industry.
This unrivalled experience establishes the London Metal Exchange as the Exchange with the capabilities, resources and proven relationships, to deliver credible and market driven risk management tools for the steel industry.
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Providing a secure and well regulated environment is fundamental to the success of steel futures. The LME has a statutory requirement to ensure that business on its markets is conducted in an orderly manner and is a Recognised Investment Exchange (RIE) providing robust protection to participants.
Regulation of the market is largely carried out by the LME, while the Financial Services Authority (FSA) is responsible for regulating the financial integrity and conduct of the LME members business.
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The LME has a global reach and perspective through its member firms who provide specific tailored services to clients that wish to use the LME.
Trading spans all geographies, and deals are brokered by members 24 hours a day through its three trading platforms.
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The LME is unique in comparison to other financial exchanges and markets because of its strong relationships with the non-ferrous metals community. Continuing in this tradition, the LME has formed strong relationships with the steel industry. By providing steel billet futures contracts, the industry is now able to manage exposure to price risk in an inherently volatile market.
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