21 AUGUST 2015<a href= "http://www.reuters.com/article/2015/08/20/lme-aluminium-contracts-idUSL5N10V2LV20150820" target='_blank'> Reuters </a>
LME confirms fee holiday for new aluminium
Edited by : AL CIRCLE
1 min read
The London Metal Exchange (LME) confirmed plans to waive fees for its new aluminium premium and steel contracts from launch on November 23 to December 31, a move the exchange hopes will help boost volumes and liquidity.
"During that period the Exchange will not charge any trading or clearing fees in respect of any trading in the Aluminium Premium Contracts," the LME said in a note. Trading and clearing fees for the aluminium premium contract range between 50 and 90 U.S. cents. The clearing fee for delivery is 35 cents.
Fee incentives and the launch of the new contracts are subject to final regulatory approval from the Financial Conduct Authority and rule change consultations for the Exchange.
The exchanges is also planning fee rebates and stipends to cover operational costs for market makers who commit to providing liquidity for the steel and aluminium contracts.
"During that period the Exchange will not charge any trading or clearing fees in respect of any trading in the Aluminium Premium Contracts," the LME said in a note. Trading and clearing fees for the aluminium premium contract range between 50 and 90 U.S. cents. The clearing fee for delivery is 35 cents.
Fee incentives and the launch of the new contracts are subject to final regulatory approval from the Financial Conduct Authority and rule change consultations for the Exchange.
The exchanges is also planning fee rebates and stipends to cover operational costs for market makers who commit to providing liquidity for the steel and aluminium contracts.
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