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LMEwire – Trade reporting made simple

Powered by LME Clear

LMEwire is a new service that enables members to meet their regulatory trade reporting requirements. It is efficient, cost-effective and customised to the needs of the metals market.

Why LMEwire?

We are uniquely placed to assist you with your trade reporting requirements for all London Metal Exchange (LME) and over-the-counter (OTC) trading. The majority of the Exchange-traded derivatives (ETD) data is already available on LMEsmart. This can be reported securely with minimal work from members, utilising existing connectivity.

Who needs to report?

  • All the parties to derivatives trades and the CCP have an obligation to report
  • LME Clear can report for members as well as some or all of their clients.

Reporting requirements

The European Markets Infrastructure Regulation (EMIR) reporting obligation came into force on 12 February 2014. Both ETD and OTC trades must be reported following execution/modification/early termination on a next business day (T+1) basis. This will be expanded in August 2014 to add mark to market, positions and collateral data on a daily basis.

We recommend that non-segregated LME client contracts should be reported as ETDs, for the interim period that they can be used, in order to avoid uncertainty and inconsistency in reporting these trades.

LME Clear has selected DTCC as its strategic partner for the reporting service, which launched on 12 February 2014.

Find out more

If you have any queries about LMEwire, you can email us.

Related links

LME Clear UTI and UPI Document

 

LMEwire is a service provided by LME Clear Limited, a private limited company registered in England no 07611628 at 10 Finsbury Square, London EC2A 1AJ.