Membership On-boarding Process
Download the LME Membership On-boarding Process flowchart
Requirement to hold B Shares in LME Holdings Limited
Applicants are required to comply with a number of financial and regulatory criteria and, in addition, a minimum holding of B shares in LME Holdings Limited is required.
Category 1 and 2 members of the Exchange are required to hold a minimum of 25,000 B shares in LME Holdings Limited. Each Category 3 member is required to hold a minimum of 5,000 B shares in LME Holdings Limited and each Category 4 member is required to hold a minimum of 2,500 B shares in LME Holdings Limited. Category 5 members are not required to hold B shares in LME Holdings Limited.
Process for Acquiring B Shares in LME Holdings Limited
Applicants must source the minimum amount of B Shares in order to satisfy the membership requirements from existing B Shareholders. LME Holdings Limited is unable to assist buyers or sellers with arrangements for any sale / purchase of B Shares.
A list of the current B Shareholders is available.
In the event that an applicant cannot acquire B Shares, LME Holdings Limited in accordance with the B Share Scheme can issue the requisite amount of B Shares to an applicant in order to satisfy this membership requirement. Further information can be obtained by contacting the Client Advisory and Membership Services team.
The B Share sub committee met on 23 June 2014 and after taking into account all relevant factors, it resolved to set the price at which LME Holdings Limited will issue B Shares (if required) to £72 per B Share. This price will be in respect of issues of B Shares made between 24 June 2014 and 19 September 2014. For issues after this date, the B Share sub committee will determine whether to maintain this price or change it.
Please note that to view LME market data or to trade on the LME yo u do not need to become a member of the Exchange.