LME Gateway Documentation
- LME Gateway And The Exchange
- Installing And Upgrading
- Configuring Global Settings
- Configuring Market Data
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Configuring The Order Server
- Understanding Order Management
- Order and Fill Server Files
- Configuring Order and Fill Server Connections
- Configuring Order Sessions: LME Gateway 7.18.25
- Configuring Order Routers
- Supported Order Types
- Configuring Multi-Member/ Multi-Session
- Configuring Order Book Sharing
- Order Server Startup Command Line Parameter
- Configuration Parameters
- Disaster Recovery
Exchange Information
Exchange Background
The London Metal Exchange (LME) is a principal-to-principal market that was established in 1877 and was originally known as the London Metals and Mining Company. The exchange offers futures and options contracts for aluminum, copper, lead, nickel, tin, zinc, and two regional aluminum alloys. In 2005, LME introduced futures contracts in polypropylene and linear low density polyethlene.
The Exchange is regulated by both LME and UK Financial Services Authority (FSA).
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You can find the preceding exchange information on LME’s website. |
Time and Time Zone
Set the machine that hosts the LME Gateway to run in (GMT) Greenwich Mean Time zone and time. You must turn-on the Automatically adjust clock for daylight saving changes setting.
Required Connection Information
Prior to trading on LME, users must obtain the following from the exchange:
Firm ID
Users must obtain a unique firm ID from the exchange. The user must enter this ID as the GatewayCompany parameter in the hostinfo.cfg file. This field supplies the value of the FIX tag 49 (SenderCompID) in all outbound messages for that connection.
The exchange-assigned FIX session ID (GatewayCompany) is automatically locked by LME if it is not used by the end of the day that it is issued, between 21:00 and 22:00 (GMT+1:00) Western European Time (London) zone and time.
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If the exchange-assigned FIX session ID is locked by the exchange, all subsequent FIX logon attempts are rejected. You must contact LME to unlock it. |
Connection IP and Ports
Users must obtain connection IP and Ports for the Price API connection and each Order API connection.
The TT LME Gateway maps the Price Server parameters as illustrated in the following list:
- TT LME Gateway distributes ExchangeIP as Connection IP.
- TT LME Gateway distributes GatewayCompany as SenderCompID.
The TT LME Gateway maps the Order Server parameters as illustrated in the following list:
- TT LME Gateway distributes ExchangeIP as Connection IP.
- TT LME Gateway distributes GatewayCompany as SenderCompID.
Matching Algorithms
Prices at LME are determined through the open-outcry trading. Following the end of each five-minute ring, official prices, which then become the settlement prices, are determined using the last bid and offer for cash, three months and fifteen months before the ring is ended.
For more detailed information on price discovery, see LME’s website at:
http://www.lme.com/price_discovery.asp.
Available Products
The most commonly traded products at LME are:
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AA |
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CA |
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NI |
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PB |
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ZS |
In addition, LME offers the following products:
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Cobalt |
CO |
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LMEmini contracts are small-size, cash settled monthly futures that are traded both electronically and via the telephone. These contracts are currently available for copper, aluminum, and zinc, tin, nickel, and lead. There is no expiry date for these contracts. |
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The LME Index is an index on the six designated LME primary metals contracts (AA, CA, PB, NI, SN, and ZS). |
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Molybdenum |
MO |
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NA |
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AH |
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FM |
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SN |
Trading Hours
Trading at LME is available through three side-by-side trading platforms. Accessibility of these platforms is contingent on membership type.
The LME trading platforms are:
- Open-outcry: Also referred to as Ring trading, open-outcry trading is available from 11:45 - 17:00 (GMT + 1:00) Western European Time (London) zone and time.
- LME Select: The Exchange-operated electronic trading platform is available from 01:00 - 19:00 (GMT + 1:00) Western European Time (London) zone and time.
- Inter-office telephone market: This market is available 24 hours a day.
- LME Precious: Trading hours are available for one hour after the close of the current base metals until 8:00pm UK time.