17 December 2017
visit http://response.ncr.com

London Metals Exchange postpones launch of LMEsowrd

17 February 2010  |  1578 views  |  0 Source: London Metals Exchange

Following requests from members and warehouse agents the London Metal Exchange has decided to postpone the launch of LMEsword until 12 April 2010.

LMEsword will go-live on 12 April 2010, not 22 February 2010 as previously planned. The LME has absolute confidence in the LMEsword system, which has proved to be robust during member testing.

However, the LME has decided that it is in the best interests of the market to postpone the launch of the new system to allow members and warehouse agents more time to familiarise themselves with the LMEsword system.

Warehouse agents have also asked for more time to become comfortable with the new rent payment process, particularly as the rent payment date falls on 31 March.

The LME will still launch the minor metals contracts for molybdenum and cobalt on 22nd February 2010. Material that completed the warranting process before 12 April 2010 may, if the owner wishes, have an interim LME warrant issued before the LMEsword warrant is issued after 12 April.

Separately, the LME has restructured its Commercial Department, promoting Chris Evans and Catherine Markey to the roles of Head of Business Development and Head of Education & Marketing respectively.

Chris, who previously held the role of New Products Manager, will oversee product management, member relations, new memberships, analytics and media relations. Catherine, who was Head of Education, will now be responsible for both the Exchange's education services and marketing activity which includes LME Metals Week in October. Both will report to LME Chief Executive, Martin Abbott.

The LME's Commercial Director Liz Milan has been appointed Managing Director, LME Asia and will run the exchange's new office in Singapore. Liz will remain on the LME's Executive Committee (ExComm).

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.aciworldwide.comvisit www.response.ncr.comvisit www.niceactimize.com

Top topics

Most viewed Most shared
satelliteRipple completes XRP Lockup
10658 views comments | 3 tweets | 2 linkedin
PSD2: Laying the regulatory foundation for a new age in paymentsPSD2: Laying the regulatory foundation for...
10306 views comments | 18 tweets | 36 linkedin
Banks tap Ethereum smart contracts for MiFID II complianceBanks tap Ethereum smart contracts for MiF...
7723 views comments | 10 tweets | 10 linkedin
Banks and fintech startups join forces on blockchain-based supply chain pilotBanks and fintech startups join forces on...
7360 views comments | 19 tweets | 22 linkedin
hands typing furiouslyReshaping Customer Engagement & Da...
6782 views 0 | 4 tweets | 2 linkedin

Featured job

Competitive base, commission, benefits
London, UK

Find your next job