LME Minis

China Xinyongan Futures

November, 2010

Hong Kong

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Contract summary – the LMEMini

Five tonne lot size, with the underlying specification identical to the full-size parent contract

Contracts are for Copper Grade A, Primary Aluminium and Special High Grade Zinc

Tradable electronically via LME Select and the telephone market

Tradable for one single prompt date, the third Wednesday of each month for 12 months forward

Cash-settled (i.e. no physical delivery) against the Official Settlement Price of the full-size parent LME contract

Margining is on a daily marked-to-market basis and in a futures style

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Basic information – the LMEMini

Trading platform LME Select

Contract Months The front 12 consecutive months

Settlement basis Cash settled futures style

Contract Size 1 lot = 5 metric tones

Price Quotation US$ per tonne

Ticker Symbol MC, MA, MZ for example Reuters = MMCH1

Prompt date Third Wednesday of each maturity month

Final Settlement PriceLME Official Cash Settlement price, 2 business days before the 3rd Wednesday of each month

Daily Price Limit None

Trading Day Any business day that is not a LME holiday

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Basic information – the LMEMini

Launch date Trading now, originally launched December 2006

Exchange fees None until further notice

Minimum Price Fluctuation

$0.25 for outright$0.01 for calendar spreads

Electronic Availability Metalsedge Sharppoint, AFS J-trader, GTS, Pats J -trader,

Electronic Trading Hours

1am until 7.00pm UK, 18 hours continuously

Position Limits None

Broker market making available

Yes

Margin OffsetMargin offset between CU and ZN contracts and the LME Mini contract is 95% Margin offset between AH contracts and the LME Mini contract is 90%

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Basic information – the LMEMini

Last Trading Day 2 LME business days before 3rd Wednesday of the contract month; The contract expires at the close of 2nd ring on that day for that metal

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Simple LME minis are cash-settled contracts, traded electronically and via the telephone. They are designed to appeal to market participants who prefer to trade non-physically deliverable contracts, on a monthly basis, in smaller tonnages than currently available on the LME.

AccessibleLME minis appeal to those market participants looking for an easy way to trade and access the world’s most liquid base metals market.

TransparentThrough the LME Select, full order depth for all contracts and months are visible giving market participants full transparency of the market at all times.

Liquid and credibleBeing cash-settled market participants also benefit from the deep liquidity and credibility that exists in the LME’s parent contracts.

Source: LME.com

Features

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