London Metal Exchange updates systems for Emir

Source: London Metal Exchange (LME)

The London Metal Exchange (LME) has successfully delivered the systems modifications necessary to support its members and clearing house in response to the European Market Infrastructure Regulation (EMIR) requirements.

The on-schedule delivery of the technology changes means that LME members can make necessary modifications to their own systems in advance of EMIR coming into force.

"We are pleased that the changes were successfully implemented on schedule," said Robin Paine, Chief Technology Officer at the LME. "This delivery is testament to effective collaboration between the LME, its partners and the regulators. We will continue to work closely with members, the clearing house and ISVs to support member readiness over the coming months to the benefit of all market participants."

The LME's core member matching and warrant delivery management systems, LMEsmart and LMEsword are now ready to accommodate EMIR, and LME members are now able to make arrangements to operate multiple segregated accounts at the clearing house.

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