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About the Role

Provide first-line supervision for all trading activity on the Ring and LMEselect, participate in the determination of the LME’s Futures reference prices, and ensure the Error Trade Policy and Dynamic Price Bands on LMEselect are managed effectively.

Responsibilities

• Ensure the LME’s reference prices are determined in a manner that promotes the LME and meets commercial and regulatory requirements.
• Participate on the Pricing Committee on the Ring for the determination of Official and Closing Prices.
• Enforce the LME’s Ring Dealing Regulations and Code of Conduct, including imposing disciplinary procedures for rule breaches as a participant on the Ring Disciplinary Committee.
• Establish Settlement Prices on LMEselect for Ferrous Prices and new product launches for cash-settled futures.
• Ensure procedures around the Error Trade Policy and Dynamic Price Bands on LMEselect are managed effectively and consistently, with all relevant information updated and documented.
• Carry out the procedure for the determination of the Closing Prices for Traded Options using LMEprism.
• Ensure Benchmark Regulation Compliance as a Benchmark Administrator.
• Provide regular updates to LMEC on all relevant pricing-related matters and ensure reference prices are transmitted accurately daily through LMEprice.
• Provide Market Surveillance with relevant observations and referrals from trading activity across LME venues.
• Effectively deal with all stakeholder queries relating to LME’s pricing procedures and Trading Operations.
• Recommend and promote enhancements to management on issues that will benefit the LME’s price discovery procedures.
• Participate in all relevant projects and initiatives.
• Provide tutorials and education to LME staff on price discovery for Futures and Options.

Requirements

• Four years experience either working for a Member/Client, other Exchange or the LME in the trading environment.
• Knowledge or experience in electronic trading.
• Good knowledge of Benchmark Administrator responsibilities.
• Thorough knowledge of market terminology and the LME Rules and Regulations.
• Thorough understanding of the forward price curve for each metal.
• Thorough understanding of the dealing regulations.
• Knowledge of Traded Options where appropriate.

Skills

• Data input skills
• Interpersonal skills
• Communication skills
• Good business awareness
• IT literacy
• Quick and accurate numerical skills
• Python (Intermediate Standard)
• SQL (Beginner/Intermediate Standard)
• Power Bi (Intermediate Standard)

Location

• UK-London

Work Type

• Permanent
• Standard 40 Hour Week

Experience Level

• Associate

Education Level

• 5 GCSE’s or more with C grades or above for mathematics and English language
• Passed the LME probationary dealers exam where appropriate

About the Company

• The London Metal Exchange is the world centre for industrial metals trading.
• Most of the world’s global non-ferrous futures business is conducted on the LME’s three trading platforms totalling $18 trillion, 178 million lots and 4 billion tonnes with a market open interest high of 1.8 million lots in 2024.
• All trades are cleared and settled by LME Clear.
• Participants can transfer or take on price risk against aluminium, copper, nickel, tin, zinc, lead, molybdenum, cobalt, lithium, steel scrap, rebar and hot-rolled coil as well as alumina, aluminium premiums and alloys.
• The LME and LME Clear are HKEX Group companies.
• www.lme.com