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Exchange Membership
![]() The London Metal Exchange is the world's premier non-ferrous metals market with highly liquid contracts and a worldwide reputation. It is innovative while maintaining its traditional strengths and remains close to its core users by ensuring its contracts continue to meet the high expectations of industry. As a result, it is highly successful with a turnover in excess of US$4,500 billion per annum. It also contributes to the UK's invisible earnings to the sum of more than £250 million in overseas earnings each year. MAREX Financial Limited is a Category 1 Ring dealing member, the highest category of membership. As a category 1 ring dealing member, MAREX Financial Limited is entitled to trade in the ring during the ring trading sessions. We also operate a 24 hour market by trading inter-office. Eurex is the world's largest futures and options exchange and is jointly operated by Deutsche Börse AG and SWX Swiss Exchange. The Exchange is the market place of choice for trading and clearing of derivatives. Eurex has been a pioneer in electronic trading of derivative products for more than a decade, and it offers its customers open, democratic, simple, and cost-effective access from any point around the globe. The trading participants are connected to the Eurex system via a communications network; at present, some 700 locations worldwide are connected to Eurex. Together with international trading houses, Eurex operates the electronic network (ECN) Eurex Bonds, an over-the-counter market for cash and basis trading in fixed income securities and treasury discount papers. Eurex Repo, which is a separate segment, is the electronic trading solution for repos (sale and repurchase agreements).
Euronext is the first genuinely cross-border exchange. It provides international services for regulated Cash Markets and Derivative Markets in Belgium, France, the UK (derivatives), the Netherlands and Portugal. Since its creation in 2000, Euronext has been working towards the consolidation of financial markets by integrating local markets across Europe to provide users with a single market that is broad, highly liquid and extremely cost-effective. ![]() Intercontinental Exchange (ICE) operates an electronic global futures and over-the-counter (OTC) marketplace for trading an array of energy products. Through its electronic trading platform, it brings together buyers and sellers of derivative and physical energy commodities contracts. The exchange conducts its OTC business directly, and futures business through wholly owned subsidiary, ICE Futures. Intercontinental Exchange also offers a variety of market data services for both futures and OTC markets through ICE Data, its market data subsidiary. Its key products include contracts based on crude or refined oil, natural gas and power. Intercontinental Exchange operates in three distinct markets: futures markets, OTC markets and market data markets. ![]() North America's first fully electronic commodity exchange ICE Futures Canada was established in 1887 and has been facilitating futures contract trading since 1904. A wholly owned subsidiary of ICE since 2007, ICE Futures Canada offers futures and options contracts on oilseeds and grains. Created in 2003, EDX London combines the strength and liquidity of the London Stock Exchange with the advanced equity derivatives technology of OMX AB. The London Stock Exchange is home to Europe's largest and the world's most international equity markets. OMX AB is the market leader in exchange technology, powering many of the world's derivatives exchanges.
Clearing Membership
![]() ICE Clear Europe is being formed as a London-based clearing house, subject to recognition by UK’s Financial Services Authority (FSA). Upon launch, expected in September 2008, ICE Clear Europe will provide clearing services for all ICE Futures Europe contracts and all cleared OTC contracts transacted in ICE’s global OTC markets. Until the transition date, these products will continue to be cleared by LCH.Clearnet Ltd. Since its recognition by the FSA on May 12, 2008, ICE Clear Europe has received membership applications from 47 clearing firms and the transfer of 100% of the open positions established at ICE Futures Europe and ICE OTC from LCH.Clearnet to ICE Clear Europe has been facilitated. LCH.Clearnet is Europe’s premier central counterparty, serving major international exchanges and platforms, equity markets, exchange-traded derivatives markets, energy markets, the interbank interest rate swaps market and the majority of the Euro-denominated and sterling bond and repo markets LCH.Clearnet SA was the first clearing house in Europe to clear repos and cash bond trades, or indeed any OTC transactions. It started clearing French government debt in November 1998, and became the first clearing house to clear cash trades and repos in German government debt in April 1999. LCH.Clearnet SA is expanding its operations, and is now forging alliances to clear both on- and off-market trades with a variety of participants.
Before CLS, each side of a trade was paid separately. Taking time-zone differences into account, this heightened the risk of one party defaulting. CLS is a response to regulatory concern about systematic risk. It eliminates that ‘temporal’ settlement risk, making same-day settlement both possible and final.
Trade Associations
The Futures and Options association (FOA) is an industry association for firms and institutions carring on business in futures, options and other derivatives or which use such products in their business. Its principle role is to represent the interests of its members in the public and regulatory domain and deliver a wide range of support services to the membership The FIA is the only association representative of all organizations that have an interest in the futures market. FIA has more than 200 corporate members, reaching thousands of industry participants. ![]() The LBMA is the London-based trade association that represents the wholesale over-the-counter market for gold and silver in London. The ongoing work of the association encompasses many areas, among them refining standards, good trading practices and standard documentation.
Regulator:![]() Financial Services Authority |
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