LME outlines pricing procedures for new futures contracts; introduces cash-settled futures index

摘要

The London Metal Exchange has released its pricing procedures and methodologies for the scheduled release of its cash-settled futures contracts on March 11, highlighting methods in which the bourse will determine daily settlement prices.In its note to members on Friday March 1, the LME lists select specifications for each of the contracts inclusive of currency, lot size and trading time, while its daily settlement price will be determined through a volume weighted average price (VWAP) over a five-minute pricing period.