All our current LME Clear Members satisfy, at a minimum, the following criteria:
For full Clearing Member status criteria, refer to the Rulebook All applicants are required to have the appropriate Exchange Membership in place.
Costs: Application fee to be applied.
Enquiries regarding Clearing Member status should be directed to LME Clearhg0088皇冠to welcome who will be able to confirm whether the enquirer meets the minimum criteria for such status. Applicants are requested to provide the following:
hg0088皇冠to welcomeFollowing receipt of this information LME Clear will carry out an initial review, considering factors such as external market data, country of incorporation, financial position and any support arrangements in place.
Completion of application documentation
Following confirmation that the enquirer meets the minimum criteria, the application process is initiated by completing the Application for Clearing Member Status formhg0088皇冠to welcome and returning it with the accompanying documentation listed within the form. In addition applicants are required to sign the Clearing Membership Agreement along with supporting documentation.
Due diligence visit
The application process for new Clearing Members may include a due diligence visit at the applicant's offices. The purpose of this meeting is to discuss corporate structure and strategy; the scope of the new Clearing Member's business generally and clearing activities specifically (planned and current); financials, regulation, operational processes, banking facilities, risk management (of clients) and any proprietary business, margining, credit management policy, stress testing and so on.