London Metal Exchange (LME) has announced its intention to
launch a platform for OTC contracts, specifically intended for
its proposed steel futures contract but it was expected that
once the platform is rolled out it would expand into offering
further OTC products.
"The LME will shortly begin building a prototype for an OTC
matching and clearing platform, due for delivery in the first
half of 2007," said newly appointed LME CEO Martin Abbott
during his debut LME dinner speech, last week. "?.Such a
platform might provide us with many other opportunities. We
will look at ancillary products related to our existing
contracts, but we will also be looking at the whole range of
products trading physically in the metals world."
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