The London Metal Exchange (LME) has today upgraded its electronic trading platform LMEselect.
The upgrade, which became effective from 01:00 London time this morning, will provide a more robust system that offers operational efficiencies.
The upgrade comes on the back of a record trading month for the Exchange overall and also LMEselect. Exchange volumes were up 44% in October compared to the corresponding period of 2007 with 11,218,308 lots traded. LMEselect also recorded an increase of 23% on its previous record month.
Commenting on this announcement, Martin Abbott, LME Chief Executive said: "The introduction of the upgraded LMEselect has gone smoothly and will provide a more robust system that offers operational efficiencies going forward. This comes at a time in the current exceptional trading environment when the LME is experiencing record volumes that require efficient and robust systems."