LME Introduces Temporary Ring Dealing Fee Reduction

This notice informs members of a temporary revision to the fee schedule such that the total transaction fee applied to Ring and Kerb trades will be reduced for the month of August 2016 from $0.50 to $0.25 per lot, per leg per side.
On 16 July 2016, a structural issue was identified within the building which houses the LME premises in London. The LME therefore invoked its business continuity plans, which involves Ring trading from the disaster recovery site in Chelmsford. As set out in Notice 16/277 : A271, the LME is advised by the building manager that this situation should be expected to continue until the end of August.
In light of these unexpected circumstances, and as a goodwill gesture to the members and traders most directly affected by this, the LME is reducing the transaction fee (i.e. the combined trading and clearing fee) for all Ring and Kerb (identified as R & K trade types) trades entered into during the month of August from $0.50 to $0.25 (therefore the trading fee of $0.25 is waived for the period).
The reduced fee will be reflected via a credit note and rebate following the monthly invoice to members. The rebate will be applied on the same day as the monthly invoicing.
All other fees as set out in Notice 16/276 : A/270 dated 5 August 2016 will remain unchanged.
The LME would like to thank its ring dealing members for their continued patience and cooperation throughout this period.