The London Metal Exchange further advances the modernization of market structure.

Today, the LME announced the follow-up steps to the implementation measures outlined in its September 2024 "Enhanced Liquidity White Paper." The White Paper proposed a series of draft reform measures aimed at modernizing the LME market structure, increasing transparency, enhancing price competitiveness, while also protecting the unique role of the LME in serving the physical metals market. Since the release of the White Paper, the LME has engaged in extensive communication with members and a broader range of market participants, and has developed more detailed plans to support these proposals. This includes over 150 meetings with members, clients, key industry bodies, LME committees, and working groups. These communications have informed the plan released today. The first phase of reform measures will continue to be progressed in the first half of 2025 and 2026, with further measures being considered to start in the second half of 2026.