LME Welcomes Clear Street As Category 1 Member

The London Metal Exchange (LME) is pleased to announce that Clear Street UK has today been approved as a Category 1, Ring-dealing member.

Clear Street UK is a subsidiary of Clear Street, a US financial technology and services group.

Matthew Chamberlain, LME CEO, said: “We are delighted to welcome Clear Street to the LME. The arrival of a new member of the calibre of Clear Street demonstrates the LME’s ability to provide a dynamic marketplace for industrial metals and our place at the centre of global metals trading.”

The LME will issue a further notice to confirm when Clear Street will commence trading and clearing.

Background

• Category 1 or Ring-dealing members are entitled to trade in the Ring, LMEselect and the telephone market. Ring-dealing members can issue LME contracts – buying and selling material for their clients. They are also members of LME Clear.
• A full list of LME members can be found on our website.
• Clear Street is a US financial technology and services group built on a proprietary, cloud-native clearing platform. Led by Wall Street veterans from firms including CBOE, ED&F Man, Goldman Sachs, Morgan Stanley and others, the group is backed by PrysmCapital, NextGen Venture Partners, IMC Investments, Walleye Capital, Belvedere, NEAR Foundation, McLaren Strategic Ventures, and Validus Growth Investors.