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LME to leave trading fees flat in 2022 owing to pandemic

·1-min read
FILE PHOTO: Traders work on the floor of the London Metal Exchange

LONDON (Reuters) - The London Metal Exchange (LME) will not increase its main trading and clearing fees next year because of the COVID-19 pandemic, it said on Tuesday.

The world's oldest and largest market for industrial metals added that it plans to adjust some other fees.

"In light of market conditions and the global pandemic no change is proposed to the LME Group’s trading and clearing fees," a statement said.

Any increases would be due to investments the LME has made or to offset rising costs, it added.

The LME, owned by Hong Kong Exchanges and Clearing Ltd., said it would increase some market data fees and data centre connection charges.

The exchange will extend a waiver of fees for monthly average futures trading and clearing fees until the end of 2022 and also waive LME Precious membership fees for the same period.

(Reporting by Eric Onstad; Editing by David Goodman, Kirsten Donovan)

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