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....