INTERNATIONAL: LME Clear Connects With DTCC To Provide Trade Reporting Service

Thursday November 21 2013

News Source: Global Exchanges

Focus: Trading Rules

Type: General

Country: International

Link: http://www.lme.com/news-and-events/press-releases/press-releases/2013/11/lme-clear-connects-with-dtcc-to-provide-trade-reporting-service/

LME Clear has selected The Depository Trust & Clearing Corporation (DTCC), an approved trade repository, as its strategic partner for the new LME reporting service, LMEwire. The service, powered by LME Clear, will be available by 12 February 2014, the confirmed start date for the reporting obligation for all asset classes, as set out by the European Market Infrastructure Regulation (EMIR).

LMEwire will enable members and their clients to efficiently comply with the new rules mandated by EMIR. LME Clear will be able to transpose and transport all relevant exchange-traded data from the LME`s matching system, LMEsmart, directly to DTCC`s trade repository, eliminating the need for members to process the data themselves. LME members will also be able to file over-the-counter (OTC) transaction data using LMEwire.

Click on the above link for more details.