LME: Issues discussion paper on electronic warranting
- The London Metal Exchange (LME) issued a market-wide discussion paper on its proposal to introduce an electronic warranting process
- Following initial supportive feedback from members the LME proposes to streamline the warrant lodgement
- By replacing the physical transferral process with an electronic one
- Reduce administrative burden and eliminate operational risk in warrant lodgement and withdrawal
- Given the global reach of the LME’s metal storage network, the proposed change to the legal structure associated
- The LME aims to launch the proposed warrant depository function by the end of October 2020
