The London Metal Exchange has selected OM Technology to develop an after-hours screen-based trading system. The terms of the deal are subject to contract. Further details will be released within the next few weeks.
OM is understood to have won the bid in a head-to-head with Computer Sciences Corporation. OM Technology already supplies trading systems to the UK power exchange UKPX and the Pulpex futures market.
The LME has set the end of the year as a deadline for the introduction of electronic trading.