The London Metal Exchange (LME) has introduced a new market data usage policy, which came into effect on 4 April 2016. A licence is required by any firm that uses LME or London Bullion Market Association Platinum and Palladium (LBMA PGM) data or trademark(s) for either of the following uses, other than for limited internal business use:
a. for valuation and/or pricing activities; and/or
b. as a reference price in transactions.
(a “Usage Licence”)
A Usage Licence is required for use of any delay class of data.
For 2016, the Usage Licence will have two annual pricing options (prorated) depending on the number of Affiliates a firm wants to include in the licence:
LME Usage Licence
a. Standard – includes the firm and up to five Affiliates: US$3,500
b. Premium – includes the firm and unlimited Affiliates: US$8,500
LBMA PGM Usage Licence
a. Standard – includes the firm and up to five Affiliates: US$1,000
b. Premium – includes the firm and unlimited Affiliates: US$2,500
Fee Waivers and Exemptions:
Fee waivers are available for firms who are:
- A Category 1-5 Member
- Party to LME Client Contracts (Standard licence)
- An LPP Member Participant
- Using LME data solely as a reference in physical supply contracts (effective 1 Jan 2017)
The following firms are exempt from the Usage Licence:
- Firms with a limited use of the data ( <$10m annual notional)
- Firms solely receiving contracts
- Firms using the data internally
For more information on the waivers and exemptions, please refer to the FAQs.
How to apply:
A Usage Licence can be obtained by registering on the LME’s Online Licensing Portal.
For more information about whether or not you may require a Usage Licence, please refer to the following:
You can also contact us by email or by calling +44 203 859 5159 (UK)