LME will raise fees on cross trades to boost revenue
Dec 19, 2011 | 11:50 AM
The London Metal Exchange will introduce a new user fee that will see the cost of segregated and non-segregated cross trades rise to 50 pence ($0.78) per lot on March 1 2012 as it looks to raise revenues.
“The fee will be £0.25 per lot per side for segregated and non-segregated crosses and will include the data collection and matching fee,” LME chief executive Martin Abbott said in a letter to members, adding that the current exchange levy will be scrapped.
“The effect of the new exchange user fee is that for client contracts there will be a single fee for a purchase or sale contract of £0.50 per lot including matching costs,” he said.
The fees for non-ring and non-kerb trades for....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.