London Metal Exchange

Founded in 1877, the London Metal Exchange (LME) is the global hub for industrial metals trading and price discovery. It offers a range of futures and options contracts for non-ferrous, ferrous, and precious metals, which are used by the global metals industry for trading, hedging against price risk, and as physical settlement mechanisms. The LME's unique trading structure includes open-outcry "Ring" trading, an electronic platform (LMEselect), and a 24-hour telephone market. In 2012, the LME was acquired by Hong Kong Exchanges and Clearing Limited (HKEX).