LONDON (Reuters) – The London Metal Exchange is the favorite to clear trades for the new base metals platform NFEx as it would be the most efficient option for those wanting to use both venues, sources familiar with the matter said.
The new exchange, which will offer trading in base metals such as copper and aluminum, is aiming to go live by the end of the first quarter of 2018 with contracts that mimic the LME’s.
NFEx is talking to the LME, Intercontinental Exchange, SGX and CME Group, sources said.
“We are in commercial negotiations with several leading commodity clearing Houses, some of these discussions are further progressed than others,” NFEx’s chief operating officer Mark Bradley said..
Click here to view full article on Reuters UK