China Merchants Securities (UK) Limited Becomes LME Category 2 Member

The London Metal Exchange (LME) has issued a notice saying that it has approved China Merchants Securities (UK) Limited to obtain its membership, becoming its latest Category 2 member effective 5 January 2021 in accordance with Regulation 10.3(c) of Part 2 of the LME Rulebook.

The futures exchange also said that China Merchants Securities (UK) Limited was no longer a General Clearing Member of LME Clear as the company has withdrawn from membership of LME Clear pursuant to the LME Clear Rules and Procedures Rule 3.6.

As a Category 2 member of LME, China Merchants Securities (UK) Limited has the right to trade LME contracts in the telephone market and on LMEselect and issue client contracts. But since it is no longer a clearing member, the company is not permitted to clear trades on its behalf and on behalf of its customers.