March 10 (Reuters) - The London Metal Exchange said on Tuesday it had decided to move to an automated expiry process for metal options from the existing manual process, effective September 21, 2026.
LME to Implement Automated Expiry Process for Metal Options in September 2026
London Metal Exchange Announces Transition to Automated Options Expiry
March 10 (Reuters) - The London Metal Exchange said on Tuesday it had decided to move to an automated expiry process for metal options from the existing manual process, effective September 21, 2026.
Consultation and Industry Feedback
The LME said in a statement that respondents to its consultation on the issue were "overwhelmingly in favour" of the move proposed by the exchange and its central clearing house, LME Clear, noting that several had said it would reduce operational risk and complexity.
Benefits Highlighted by Respondents
Reduction in Operational Risk
Respondents emphasized that automation would significantly reduce operational risk associated with manual processes.
Decrease in Complexity
Several participants noted that the new process would simplify the expiry procedure, making it more efficient for all parties involved.
Implementation Timeline
The automated expiry process is scheduled to take effect on September 21, 2026.
(Reporting by Tom Daly; Editing by Kirsten Donovan)
