20 January 2015
LONDON (Commodities Now): The London Metal Exchange (LME) has extended its live forward price curves for each metal as part of its commitment to further enhance the transparency of the price discovery process following last year’s review of the Ring, the Exchange’s open outcry trading platform.
The forward price curves, which were previously published for the Ring’s afternoon “kerb” trading session only, now cover all trading times in the Ring.
“The extension of the live forward curves provides a comprehensive transparency tool for use across the whole date structure, allowing users to track real-time indicative prices throughout the day via their data vendor service,” said Peter Childs, Head of Price Discovery at the LME.
“This is a key addition to our market data offering – the result of increased investment in data services – providing our customers with a fuller service at no extra cost,” added Caroline Porter, the LME’s Head of Data Sales.
In addition to the new price information, the LME is providing extra granularity by publishing monthly prompt dates between three months and one year forward.
Looking ahead, the LME will assess whether there is a demand to extend this price-transparency tool outside of Ring hours.