London (Platts)--17Dec2012/712 am EST/1212 GMT
The London Metal Exchange experienced record volumes up to December 6, registering an increase of 10% year on year with 149.6 million lots traded, the LME said Monday. The volume traded by December 6 -- the completion date for the acquisition of the exchange by Hong Kong Exchanges and Clearing -- is equivalent to 3.5 billion mt and $13.6 trillion, the LME said. The LME continues to dominate global metal futures transactions, with more than 82% of market share. In 2012, the exchange also won six awards, including commodities exchange of the year (awarded by Commodities Now) and new metals product of the year for LMEswaps (awarded by Futures and Options World). Article continues below...Request a free trial of Metals DailyPlatts Metals Daily offers prices, news and analysis for the aluminum, copper and molybdenum value chains. It contains hundreds of metals prices across base, minor, light and precious metals assessed by editors globally. This detailed report will help you monitor global events and quickly spot opportunities or potential pitfalls as well as bring you aluminum and copper price and news coverage. Daily prices and news for molybdenum are also covered to deliver critical insights.
The London Metal Exchange experienced record volumes up to December 6, registering an increase of 10% year on year with 149.6 million lots traded, the LME said Monday. The volume traded by December 6 -- the completion date for the acquisition of the exchange by Hong Kong Exchanges and Clearing -- is equivalent to 3.5 billion mt and $13.6 trillion, the LME said. The LME continues to dominate global metal futures transactions, with more than 82% of market share. In 2012, the exchange also won six awards, including commodities exchange of the year (awarded by Commodities Now) and new metals product of the year for LMEswaps (awarded by Futures and Options World).
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Platts Metals Daily offers prices, news and analysis for the aluminum, copper and molybdenum value chains. It contains hundreds of metals prices across base, minor, light and precious metals assessed by editors globally. This detailed report will help you monitor global events and quickly spot opportunities or potential pitfalls as well as bring you aluminum and copper price and news coverage. Daily prices and news for molybdenum are also covered to deliver critical insights.
"This year has been an extraordinary year for the LME, not least because of the acquisition by HKEx," CEO Martin Abbott said. "The awards we've won reflect not only continued growth in volumes but the hard work we've all put in to making sure the LME maintains its position as the primary global market for base metals trading." On December 6, HKEx completed its acquisition of the entire issued ordinary share capital of LME Holdings. The transaction received approval from the UK markets regulator the Financial Services Authority in late November and from the UK High Court on December 5. The LME's self-clearing program remains on track to launch in 2014, the LME said in the statement.--Greg Smart, greg_smart@platts.com--Edited by Jonathan Fox, jonathan_fox@platts.com
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