The London Metal Exchange invited feedback from market participants Monday on a discussion paper setting out the exchange's evolution.
It said the guiding principle of the discussion paper is to protect those features of the LME that are integral to the physical metals industry, while also identifying growth opportunities, maximizing participation by market users and creating efficiencies through streamlining the LME structure where possible.
The market-wide engagement period will end on June 30, 2017 and the analysis undertaken will provide the LME with the foundations on which it will build specific proposals for future development, it said.
The key focus areas of the discussion paper will be:
The LME ecosystem, its stakeholders and their needs;
Trading and booking structures, and the date system;
Clearing structures and services;
Delivery and physical market structure; Membership; and
Volumes, fee structures and new products.
"Our core strategic vision is to work with our members to make LME trading more accessible and efficient, while fully respecting our physical roots. This paper lays out the principles on which we plan to build our business, and invites feedback from all stakeholders on the routes by which we deliver that strategic vision," said LME CEO Matthew Chamberlain.
During the discussion period, the LME will publish a series of briefings covering each of the six topics covered in the discussion paper.
