LMEswaps volumes strong in first month of trading 2012

Feb 23 2012 – The London Metal Exchange (LME) announces encouraging volumes in LMEswaps trading since launching the contracts on 23 January 2012. A total of 2,400 lots traded, of which 2,368 were in aluminium, 30 in copper and two in nickel.

LMEswaps introduce a new kind of contract to the market, which responds to the needs of the physical industry. For the first time, LMEswap users can benefit from a regulated market with the same counterparty default risk protection offered by other LME contracts.

Tradable on LMEselect and the 24-hour telephone market, LMEswaps enable market participants to enter into a fixed price and settle the difference against the floating price (the Monthly Average Settlement Price or MASP) at the end of the averaging period all in one simple trade.


Miriam Heywood | Press Officer
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