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Trader and Firm Identification

OVERVIEW

The following contains information on memberships at the Exchange in addition to trader identification between the TT LME Gateway and the Exchange.

OBTAINING EXCHANGE CREDENTIALS/MEMBERSHIP

Prior to trading at LME, the firm must obtain an LME Membership. LME offers five membership categories. Electronic access to the market is available through Categories 1, 2, and 4 members. For further details, please refer to the How to become a member section of LME’s website.

Category 1

Ring Dealing members can trade on all three LME trading markets: open-outcry, inter-office telephone, and LME Select.

Category 2

Associate Broker Clearing members can only trade through the inter-office telephone market and LME Select.

Category 3

Associate Trade Clearing members cannot issue client contracts or trade in open-outcry.

Category 4

Associate Broker members can issue LME contract through the inter-office telephone market but are not members of LCH.Clearnet.

Category 5

Associate Trade members have no trading rights on the Exchange except as clients.

The following are Category 1 members:

Amalgamated Metal Trading Limited

Barclays Capital

ED & F Man

MAREX Financial

Metdist Trading Limited

MF Global UK Limited

Natixis Commodity Markets Limited

Newedge Group

Societe Generale

Sucden Financial Limited

RBS Sempra Metals

Triland Metals Limited

TT DIRECT TRADER IDS

When entering users into TT User Setup, you must use the format MemberGroupTrader where:

  • Member: A max seven-character variable that is either supplied by LME or determined by the customer.
  • Group: A three-character variable determined by the customer.
  • Trader: A max eleven-character variable that is determined by the customer.

TTORD TRADER IDS

The following lists how TT LME Gateways use TTORD trader IDs.

  • TT LME Gateways support TTORDs.
  • You can map multiple TTORDs to one direct exchange trader.

FFT2 AND FFT3 FIELDS

Note

The FFT2 field must be populated and may not exceed 16 characters. The TT LME Gateway rejects an order attempt if FFT2 is blank.

The FFT2 field in the Customer Defaults section in X_TRADER® will populate FIX tag 58 in the TT LME Gateway and is sent to Clearing (LME Smart).

Beginning with January 2010, the exchange requires all customers to register their account codes with LME and to forward the registered account code in FIX tag 58. To meet this requirement, TT LME Gateways map the FFT2 field in Customer Defaults to FIX tag 58.

For more information on the FFT2 field, refer to the Customer Defaults Setup section in the X_TRADER® User Manual.

ACCOUNT FIELD

TT LME Gateways do not forward the contents of the Account # field to the Exchange.

EXCHANGE API MAPPING

The following table shows how settings and parameters configured on the TT LME Gateway are mapped to the Exchange API fields sent to the exchange.

Tag sent to LME TT Parameter Manually Configured in... Mandatory for order routing
Tag 581 Account Type Valid values: 1 = Client ISA 2 = House 3 = Client OSA 7 = Gross OSA Account Type selected in X_TRADER, FIX. Default selection is A1 in X_TRADER. X_TRADER and FIX routing Yes
Tag 10048 ISO Country Code of the person making the investment decision InvestmentDecisionCountry=$country_code Hostinfo.cfg No
Tag 10049 ISO Country Code of the person making the execution decision ExecutionDecisionCountry=$country_code Hostinfo.cfg No
Tag 10050 Indicates if the trader has a direct electronic access. value=Y or N DEA=$dea Hostinfo.cfg Yes
Tag 10051 Indicates the type of trading capacity. Valid values are 1, 2 or 3 as follows: 1 = DEAL (Dealing on own account) 2 = MTCH (Matched principal) 3 = AOTC (Any other capacity) TradingCapacity=$trading_capacity Hostinfo.cfg Yes
Tag 448 (Party ID) with tag 452 (Party Role) = 3 ClientID=$client_id Hostinfo.cfg Yes
Tag 448 (Party ID) with Tag 452 (Party Role) = 24 CustomerAccount=$customer_account_type_id Hostinfo.cfg Mandatory when Account Type = A1 (Client ISA) , A2 (Client OSA) or A4 (Gross OSA)
Tag 448 (Party ID) with tag 452 (Party Role) = 300 InvestmentDecisionWithinFirm=$investment_decision_id Hostinfo.cfg Yes
Tag 448 (Party ID) with tag 452 (Party Role) = 301 ExecutionDecisionWithinFirm=$execution_decision_id Hostinfo.cfg Yes
Tag 448 (Party ID) with tag 452 (Party Role) = 304 AlgoOrHumanDetail=$algo_or_human_id Hostinfo.cfg Yes
Tag 448 (Party ID) with tag 452 (Party Role) = 11 Order Origination Trader TT User Setup Operator ID Yes
Tag 529 OrderRestrictions Value of Yes or No is set by the Order Server based on the application submitting the order At the TT Application level. For FIX Adapter this may be configured using FIX Tag 11028, ManualOrderIndicator equal to N, meaning "Automated" Yes