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BT_Radianz_468x60_Jul23 FEAS 30th Anniversary Conference

LMEmini Roadshows Announced

Date 04/10/2006

The London Metal Exchange (LME) has today announced that it will stage a number of free international roadshow presentations to support the launch of the LMEmini contracts, which commence trading on 20 November 2006.

Roadshows commence in London and Chicago as follows, with future events planned for the USA and Asia in early 2007:

  • London - 31 October 2006, Marriott Grosvenor Hotel
    9am – 12pm, including exhibition of members, ISVs and data vendors

  • Chicago – 28 November 2006, Hyatt Regency Hotel (alongside FIA Expo)
    3pm – 4.30pm, including system demonstrations from members and ISVs

Full details of these free events, and how to register, can be found on the LME website at: www.lme.com/lmemini-events.asp

Commenting on the activity, Martin Abbott, LME Chief Executive, said:

“LMEminis are accessible, transparent and electronically-traded monthly contracts, and will appeal to all those looking for a simple way to trade base metals on the LME.

“These important events will help those interested in LMEminis to understand the new contracts, the mechanics of how they trade, and the significant benefits they offer to market participants.”

LMEminis - Further Details:

  1. The LME announced on 22 September that it would launch, on 20 November 2006, LMEmini contracts, initially for Copper Grade A, Primary Aluminium and Special High Grade Zinc
  2. Lot sizes of 5 metric tonnes, with the underlying specification the same as for the full-size parent contracts
  3. Tradable on LME Select only
  4. Tradable for one prompt date (Third Wednesday of the month) per month for 12 months forward
  5. Cash settled (i.e. not deliverable) against the Official Settlement Price of the full-size, parent LME contract announced on the cash day for the third Wednesday settlement.
  6. Margining will be on a daily marked-to-market basis
  7. The first tradable month will be December 2006
  8. Trading currency will be US dollars only
  9. Trading will cease at 12.30 hours on the cash day for the Third Wednesday prompt
  10. The closing price for the relevant full-size metal contract, as at trading floor closing time, will be used for calculating margins

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