Fresh appetite for mini-metal LME contracts

first_img Major London Metal Exchange brokers are taking a belated interest in the previously dormant LME mini metal contracts, metals industry sources said yesterday, adding the contracts may yet take off.The news comes ahead of plans by the LME and the Singapore Exchange (SGX) to launch copper and zinc cash-settled minis cleared through SGX by the first quarter of next year – part of the LME’s bid to increase its footprint in Asia.The LME originally launched small-size, cash-settled, monthly copper, aluminium and zinc futures contracts in December 2006, with one contract or lot equivalent to five tonnes as opposed to 25 tonnes for the parent contracts. They traded on the LME Select system.According to one source, the uptick in interest in the original mini contracts is primarily due to changes in trading conditions and rules since then.“For the initial launch of LME minis in 2006, only a very few clients plus traders could access mini prices on LME Select, [so] critical mass was not reached,” he said. “The situation today is different – the inclusion of electronic market-makers, proliferation of client access… it’s likely the LME mini will take off.”Another reason for renewed interest is that brokers have become aware of certain advantages to trading the contracts that were not in place before, the source said.For example, the LME recently removed the “order execution limit”, or the limit on the ratio of orders to trades for the minis, he said.FAST FACTS | LME Established more than 130 years ago, the LME is the world’s premier non-ferrous metals market offering futures and options contracts.In 2009 the LME achieved volumes of 111.9m lots, equivalent to $7.41 trillion annually. Show Comments ▼ More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comMark Eaton, former NBA All-Star, dead at 64nypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com Tags: NULL Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoMoneyPailShe Was Famous, Now She Works In {State}MoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesUndoElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldUndoZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndo whatsappcenter_img Share whatsapp Fresh appetite for mini-metal LME contracts KCS-content Monday 1 November 2010 7:43 pmlast_img

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