LME Clear Announced the Resignation of One of Its Members-Société Générale

The London Metal Exchange (LME) updated on its website that one of its members - Société Générale has withdrawn from membership of LME Clear as a General Clearing Member in accordance with the LME Clear Rules and Procedures Rule 3.6.

The Exchange has approved Société Générale's resignation of the following Category 2 and LME precious GCM member pursuant to Regulation10.3(c) of Part 2 of the LME Rulebook.

The resignation takes place with immediate effect.

Viewing form the LME CLEAR MEMBERS Chart, it can be noticed that the affiliate member, Societe Generale International Limited (SNC), remains active and a Category 1 member of the LME and LME Clear.

About Category 1 members of LME and LME Clear

Category 1 members of LME have the exclusive right to trade LME contracts by open outcry in the Ring, in the telephone market and on LMEselect and are entitled to issue client contracts to their clients. As clearing members, they are permitted to clear trades on their own behalf and on behalf of their clients and, as a result, must be members of LME Clear.

About Category 2 members of LME and LME Clear

Category 2 members are clearing members and are permitted to trade LME contracts in the telephone market and on LMEselect and issue client contracts. As clearing members, they are permitted to clear trades on their behalf and on behalf of their customers and, as a result, must be members of LME Clear.