The LME already publishes pre-trade indicative prices for the inter-office market. The new system will provide prices and volumes on an anonymous basis for telephone trades between LME brokers once they have been matched in the LME matching system.
The LME already publishes a real-time commentary of ring and kerb trading. This gives bids, offers and trades. The commentary prices will continue to be published, but in addition the LME will publish, as a separate feed, the prices and volumes for those same ring and kerb prices once they have been matched. As with the telephone trades, these prices and volumes for ring and kerb trades will be on an anonymous basis.
Commenting on the announcement, Diarmuid O’Hegarty, LME Director of Regulation and Compliance said:
“The publishing of this additional information is part of the LME’s ongoing commitment to post-trade transparency and is the result of detailed consultation with the Financial Services Authority (FSA).
It is important that any data released is appropriate and useful to users of the Exchange. We believe that the publication of post-trade prices is in the best interests of the market.”
