LMEminis: an instrument explained
On 4 December, the London Metal Exchange launched a new range of metals futures contracts, LMEminis, which are designed to appeal to the investment community, among others. Glen Chalkley, head of LME Select, the exchange's electronic trading platform, explains what they are and how they work
What are LMEminis?
LMEminis are cash-settled monthly contracts, in smaller tonnages than standard LME contracts, and traded electronically, via LME Select, and on the exchange's 24-hour telephone market. LMEminis will not trade in the LME 'Ring', the exchange's open-outcry trading forum. As a product they are very like other commodity futures contracts traded on many exchanges around the world:
nAvailable, initially, for copper (grade A), primary aluminium and special high-grade zinc.
nElectronical
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