Specialised servicing and risk management
We execute and clear a significant proportion of the market activity on the London Metal Exchange (LME), the world's largest non-ferrous metals exchange. We also provide access to the CME’s base metal futures and options contracts on its COMEX exchange and copper on the Shanghai International Energy Exchange (INE).
We provide base metals services for producers, consumers, fabricators and traders, brokers, financial institutions, hedge funds and investors in the commodity futures and options markets.
- LME, COMEX and INE execution and clearing
- Direct electronic trading solutions
- Ring trading and commentaries
- Real-time access to spreads and spread quotes
- Expert hedging and risk-management assistance
- LME options liquidity and modelling
- Average pricing
- Warrant trading
Our LME membership
We are one of only eight Category 1 (ring-dealing) members of the London Metal Exchange (LME). It's a unique market which, since 1877, has provided producers and consumers of metal with the ability to hedge their risk against rising or falling prices, as well as acting as a physical market of last resort. While most major markets have migrated fully to electronic trading, Category 1 members at the LME have the right to trade by open outcry. This face-to-face interaction helps manage the complexity of the contracts, providing both liquidity and transparency. Our membership also provides access to the inter-office telephone market between LME members, and direct access to LMEselect, the exchange’s electronic trading system.
The team provides both voice and electronic futures and options execution and clearing for clients trading metals and other industrial commodities, including energy. They also provide services for softs and agriculturals, FX and other financial markets.
The team works for producers, consumers, fabricators and traders, financial institutions and hedge funds, as well as investors in the commodity futures and options markets. Skills and experience range from open-outcry trading floors, commodity brokerages and banks, to operations and support roles. Given the nature and complexity of the markets, particularly the London Metal Exchange (LME), the desk provides additional liquidity, also enhanced by direct access to our ring team.
With the extraordinary industrial and financial market growth in China and surrounding regions, we have expanded our footprint in Asia. Today we have arguably the largest team of Chinese-speaking LME specialists in London, supported by experts at our Hong Kong subsidiary, ensuring round-the-clock support and essential local knowledge. We now serve a wide range of clients with differing needs, from those looking to fix and protect against commodity price risks, to financial institutions looking to access a wide range of financial instruments.
We are one of just eight Category 1 members of the London Metal Exchange (LME) and have had a ring trading team for over 25 years. The membership gives us the right to trade on its unique open-outcry market. Our team is one of the largest and most respected, executing a significant proportion of market activity. Our traders, brokers and clerks spend their morning at our office before heading to the exchange’s modern trading floor in Finsbury Square.
The Fund Services team is made up of seasoned market professionals with decades of expertise that will help you navigate and understand the array of products and services available.
We provide specialist access to over 20 exchanges covering listed financial, equity, commodity and FX futures and options, as well as access to cash fixed income and OTC FX. Offering both electronic (FIX) API and voice-execution solutions, we provide trade assistance and liquidity sourcing for an extensive range of markets through a single access point.
The global economy performed better than expected so far in 2023, but concerns about a cold winter, rising oil prices, high borrowing costs, and China's economic slowdown are looming large. Central banks are maintaining the narrative of higher-for-longer interest rates due to persistent higher prices, which has weighed on base and precious metals' performance. Despite pledges from Beijing to support the economy, current measures are not expected to have an immediate impact on the real estate sector, which means that there is unlikely to be a large-scale property development that would increase demand for stainless steel prices in the last quarter of the year. Nonetheless, the cumulative impacts of policy support and a dovish monetary policy in China should create a solid foundation for the economy to recover in 2024. Such a transition should push the sentiment from the oversold into neutral. News out of China and the US should bring stronger bounds of volatility in base metals’ performance in Q4 2023.
Our analysts provide an insight into the Electric Vehicle and Battery Material Market. They give an update on how the energy industries in major regions are transitioning towards renewable alternatives, new policies to support EV sales, and a fundamental outlook for Nickel, Cobalt, and Lithium. Supply-chain bottlenecks and strong EV consumption have meant a sharp increase in the prices of materials and chemicals. Will this continue?
Monthly commentary covering the FX markets, providing insights on recent developments on select currency pairs. The Japanese yen is near the three-decade low against the dollar, reigniting speculation over another round of interventions from the government. Last year, for the first time since 1998, authorities stepped in as the local currency was approaching the 150 level. With the yen now fluctuating just below this level, will there be another move from the BOJ to intervene and push the currency higher?
Our FX Options Report contains commentary and analysis covering OTC currency option pricing, volatility and positioning. USDBRL has been subject to fluctuation in recent months, given the uncertainty surrounding the monetary policy outlook from both the BCB and the Fed. With Brazil set to continue on its dovish path and the US’ peak rates being priced in, what is the outlook for USDBRL in the near term?
China held the National People’s Congress in early March, drawing thousands of delegates to the biggest reshuffle of China’s economic policy team. In this note, we look at the impact of the latest NPC meeting to help gauge the mark of new policies on longer-term economic prospects from the region.