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on 10 May 2013

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photo credit Nasa / Goddard Space Flight Center / Reto Stöckli LONDON METAL EXCHANGE Non-Ferrous Metallurgy London Metal Exchange What is the London Metal Exchange? The London Metal Exchange ,which is also known as LME, is the futures exchange with the world’s largest market options, and futures contracts on base and other metals. LME offers contracts with daily expiry dates of up to three months from trade date, along with longer-dated contracts up to 123 months, it also allows for cash trading. What are tradeable goods in LME? At first only copper was traded. Lead and zinc were soon added but only gained official trading status in 1920. The range of metals traded was extended to include; Now there is a short story about foundation of LME Ring Dealing Members TRADING SYSTEMS What are the trading performs? Ring Trading
(Open-outcry) Open outcry is the name of a method of communication between professionals on a stock exchange or futures exchange. It involves shouting and the use of hand signals to transfer information primarily about buy and sell orders. The part of the trading floor where this takes place is called a pit. Met 342E
CRN: 21838
Associate Proffessor Cevat Bora Derin
Assistant Associate Proffessor Seref Sönmez Prepared by:
Ali Kerem lter (060100311)
Berkan Kurt (060090118)
Taygun Uzunlar (060090122) In July 2012, LME's shareholders voted to sell the exchange to Hong Kong Exchanges and Clearing for £1.4 billion. LME, is located at 56 Leadenhall Street, in London. Aluminium (1978) Nickel (1979) Tin (1989) Aluminium alloys (1992) Steel (2008) Minor metals Cobalt & Molybdenum (2010) The London Metal Market and Exchange Company was founded in 1877, but the market traces its origins back to 1571 and the opening of the Royal Exchange, London. The exchange was closed during World War II and did not re-open until 1952. . . . Royal Exchange was opened 1571 LME was founded 1877 Copper, lead and zinc 1920 World War II 1952 Aluminium 1978 Nickel 1979 Tin 1989 Aluminium Alloys 1992 2008 Steel 2010 Cobalt &
Molybdenum 2011 Plastics LMEselect Method Trading Ring 24 Hour Telephone Method Valid Trading Times: 11:40 — 17:00, London Time There is constant inter-office trading, but a lot of trading is still done by open-outcry in the Ring. There are a morning and an afternoon trade, where each of the nine metal contracts are traded in two blocks with a five-minute session for each contract (the sessions last from 11.40 until 13.10 and from 14.55 until 16.15, each session includes a 10-minute break). The second trading block in the morning is key to setting the Daily Official Exchange rates. After the official trades of sessions one and two, there are 85 and 45 minutes of "kerb" trading respectively. The LME is the last exchange in Europe where open-outcry trading takes place. Amalgamated Metal Trading Limited

E D & F Man Capital Markets Limited

J.P. Morgan Securities Ltd

MAREX Financial Ltd

Metdist Trading Ltd

INTL FCStone Europe Ltd

Newedge Group (UK Branch)

Société Générale

Sucden Financial Ltd

Triland Metals Ltd Inside the LME: Risk Management LME can reduce the risk factor for both of buyers and salers. How LME can do this? Warehouses To support this mechanism, the LME approves and licenses a network of warehouses and storage facilities around the world. Warehouse companies must meet strict criteria before they are approved for the handling of metals. Warehouse Keepers around the world include the following: Henry Bath

Henry Diaper & Co. Ltd Diaper website


Metro International Trade Services

Pacorini Metals

CWT Commodities (Metals) Pte Ltd To learn for more informations, visit:

http://www.lme.com/ Thanks for listening
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