London Nonferrous Metals Exchange is the world's largest futures and options market for base metals and other metals, located in Leighton Hall Street, London. The London Metal Exchange offers contracts from the beginning of the trading day to the expiration of three months, and the longest contract is 123 months. It also allows spot transactions. It also offers commodity hedging, global reference prices and spot delivery options. 201June15th, HKEx successfully acquired the London metal exchange (LME) for 654.38 billion+388 million. LME was founded in 1877, and was incorporated in September 2000. LME members include seven categories, each of which has different rights and obligations. At present, the futures varieties traded by LME are 1 1.

Seven categories of members of 1 The -LME is as follows: Class I member-floor trading member (RDM) Class II member-related brokerage settlement member (ABCM)IM)VII) Class VII member-related transaction settlement member (ATCM) Class IV member-quasi-brokerage member (ABM) Class V member-quasi-trading member (ATM) Class 6 member-individual member (IM trading mode) All three trading modes of London metal trading: open bidding. The first two are the main trading methods, especially the first trading method. The third trading method is mainly aimed at an electronic trading system developed by securities firms for hedging positions, and cannot be directly aimed at customers. Open outcry, that is, floor trading, including floor trading time-transaction time and floor trading time-OTC trading time; On-site trading is the inner circle trading of a single commodity, and off-site trading is the inner circle trading of all commodities.

2. Inter-office transactions-telephone transactions. Telephone transactions can be conducted around the world 24 hours a day. Inter-office transaction is a transaction between brokerage companies, but in fact, customers conduct transactions through brokerage companies. Of course, some transactions of the brokerage company itself are not excluded. In recent years, this kind of trading has become the main trading mode of LME, and its trading volume accounts for about 60%-80% of the daily trading volume. Such transactions are generally conducted by telephone and some online transactions. Inter-office transactions are global 24-hour transactions. Its main markets are London, new york and Asia (Tokyo, Sydney and Singapore). It is this cross-regional existence of different markets that brings liquidity to the market and attracts a large number of customers.

3. Electronic trading -LME selective trading system. The trading system trades five days a week (7: 00 a.m. to 7: 00 p.m.), but it is only open to first-class and second-class members, who can trade all futures contracts of the exchange. The trading mode of LME has its particularity. First of all, LME Class I and Class II brokerage companies are market makers, that is, market makers, that is, market risk takers and transferers. It is precisely because of LME's special trading mechanism that participants get together and 24-hour trading is possible. As a market maker, LME brokerage company must quote for market participants at any time outside the legal holidays of the exchange.