Annual membership fees are also up for ring dealing members in particular, who must now pay an annual charge of $95,000, up from £55,000 ($89,360) previously.
The tariff for trading has been simplified to provide an all-in transaction fee in US dollars, and will come into effect in January, the exchange said.
The all-in transaction fee will have trading and clearing components, charged in dollars to “align Exchange fees with the currency of the contracts traded”, it added.
Discounts will be offered for some trade types, including ring trade and short-dated client carry trades, on which there will be a 25-cent charge for trading and for clearing.
The LME has also decreased the fee for member-to-member give-up trades to 25 cents, while the LME Clear fee is unchanged.
Non-ring dealing on the exchange and all other client contracts will have a 65-cent charge for trading, and 25 cents for clearing, the LME said.
The discount for ring trading “reaffirms the LME’s commitment to the trading floor and recognises its vital role in the price discovery process”, according to the exchange.
The move will provide funding for “continued investment in IT, systems and service provisions”, linked to a changing regulatory environment and “necessary system upgrades”, it added.
“Our new tariff is integral to our evolution into a truly commercial global exchange and underpins our continued investment and our next phase of expansion,” Garry Jones, LME CEO and HKEx co-head of global markets, said in a statement.
“The new LME tariff is competitive and ensures we can continue focusing on innovation and offering users the highest levels of service.”
A full breakdown of the main fees and charges is below:
|Futures, carries, traded options and TAPOs (per leg per side per lot)||Fees (USD)|
|Cash settlement fee||-||0.08||0.08|
|LME minis (per side per lot)||Fees (USD)|
|Subscription and facilitation fees|
|LME annual subscription||Fees (USD)|
|Ring dealing members||95,000|
|Associate broker clearing members||90,000|
|Associate trade clearing members||30,000|
|Associate broker members||75,000|
|Associate trade members||4,000|
|LME Clear recurring facilitation fees||Fees (USD)|
|GCM clearing for other LME members||25,000|
|GCM Clearing for clients||17,000|
|ICM clearing only for itself||14,000|
|ISA fee (per additional a/c)||1,700|
|OSA fee (per additional a/c)||5,000|
|One-off fees||Fees (USD)|
|LME application fee||4,000|
|LME Clear application fee||1,700|