LMEbullion – Technical Guide

May 2016

Please respond to:

Trading Operations
0207 113 8200

THE LONDON METAL EXCHANGE LME.COM

10 Finsbury Square, London EC2A 1AJ | Tel +44 (0)20 7113 8888
Registered in England no 2128666. Registered office as above.
LMEbullion – Technical Guide Version 2.

Table of Contents
1 Document Overview .............................................................................................................. 3

1.1 Purpose ............................................................................................................................ 3

1.2 Scope ............................................................................................................................... 3

1.3 Intended Audience ........................................................................................................... 3

1.4 Contact Information .......................................................................................................... 3

2 System Overview .................................................................................................................. 4

2.1 System Purpose ............................................................................................................... 4

2.2 System Operating hours .................................................................................................. 4

2.3 Pre-Requisites & Compatibility......................................................................................... 4

2.3.1 Pre-Requisites: ............................................................................................................ 4

2.3.2 Supported Browsers:................................................................................................... 4

2.3.3 Supported Operating Systems: ................................................................................... 4

2.3.4 Viewing Compatibility: ................................................................................................. 4

3 Network Overview ................................................................................................................. 5

3.1 Network Access................................................................................................................ 5

3.1.1 Access via Internet ...................................................................................................... 5

3.1.2 Access via existing network routes ............................................................................. 5

4 Quick Start Guide .................................................................................................................. 6

4.1 LMEbullion – Auction Site ................................................................................................ 6

5 Frequently Asked Questions ................................................................................................. 8

5.1 How to request for a new User account? ......................................................................... 8

5.2 What Auction Data is published for Platinum and Palladium? ......................................... 8

5.3 What will happen in the event of a system failure? .......................................................... 8

5.4 Where is the latest information for LMEbullion? .............................................................. 8

5.5 System Status Notifications ............................................................................................. 9

5.6 LMEnet Explained ............................................................................................................ 10

5.7 How can I obtain more information on LMEnet? .............................................................. 11

2
LMEbullion – Technical Guide Version 2.

1 Document Overview

1.1 Purpose

This document is designed to enable Participants and Clients to successfully configure

access to LMEbullion, LME’s electronic auction driven price discovery platform.

1.2 Scope

The areas in scope of this document consist of the technical aspects of LMEbullion and
include:
• System Overview (Section 2)
• Network Overview (Section 3)
• Quick Start Guide (Section 4)
• Frequently Asked Questions (Section 5)

1.3 Intended Audience

This document is written for IT Professionals, Network Technicians and Project Managers
involved in providing the required access for the Participants and Clients to LMEbullion.

1.4 Contact Information

For any further questions, please contact Trading Operations for additional information.

Email Address: Tradingoperations@lme.com

Telephone: 0207 113 8200

3
LMEbullion – Technical Guide Version 2.

2 System Overview

2.1 System Purpose

LMEbullion is a bespoke auction platform, used by Participants to enter interest and

discover the price of Platinum and Palladium. LMEbullion is a browser based system
available to Participants and their Clients.

2.2 System Operating hours

LMEbullion System operating hours are as follows:

System open: 08:00

System auction times: Platinum am – 09:45 London time

Palladium am – Directly Follows
Platinum pm – 14:00 London time
Palladium pm – Directly Follows

System shutdown: 18:00 (unless the Auction is still

running)

2.3 Pre-Requisites & Compatibility

The pre-requisites that LMEbullion requires are listed below along with the supported
browsers and device compatibility.

2.3.1 Pre-Requisites: Java Script and cookies must be

enabled for the preferred browser.

2.3.2 Supported Browsers: IE - Version 10 and 11

Chrome - Version 37

2.3.3 Supported Operating Systems: Windows 7 is the supported Operating

System.

2.3.4 Viewing Compatibility: The optimal screen resolution is

1920x1080.

The minimal supported screen

resolution is 1024x768.

4
LMEbullion – Technical Guide Version 2.

3 Network Overview

3.1 Network Access

LMEbullion Participants and Clients can access the service by one of two methods:

3.1.1 Access via Internet

Participants and Clients can use the internet to access LMEbullion. The LME recommends
the use of a static IP and a VPN if this access method is used.

3.1.2 Access via existing network routes

LME members who have existing Savvis or LMEnet network services can use these routes
to access LMEbullion (access via LMEnet is explained in section 3.2).

From time to time the LME may amend network access requirements to reflect service
enhancements and/or information security considerations.

The required network configuration details that will establish a successful connection to
LMEbullion are given below.
Address: https://www.lmebullion.com – The
Auction commentary page, available to
licensed Market Data Vendors only.

https://pgm.lmebullion.com – The
Auction’s URL web address used by
Market Participants in order to access
the Auction.

Port number: 443

Type of session: HTTPS - All Participant sessions will

utilise the ‘Hypertext Transfer Protocol
Secure’ (HTTPS) protocol.

5
LMEbullion – Technical Guide Version 2.

4 Quick Start Guide

4.1 LMEbullion – Auction Site

This section shows how to get started using the auction, or to track an auction’s progress.

Figure 1 below displays the login screen for those users who will be taking part in an auction
(site address https://pgm.lmebullion.com).

Figure 1 – LMEbullion Auction Login screen

The login screen is the User’s entry point to access the LMEbullion auction screen. It will be
the first screen visible when accessing the site and will require a username and password.

6
LMEbullion – Technical Guide Version 2.

Figure 2 below displays the auction screen that users will access after a successful login.
Once the auction is in progress, Participants and Clients are able to interact with the auction
screen and view auction information.
When the auction is in progress,
The ‘Auction Status’ is
Participants and Clients are able to
displayed in green during each
submit interest based on the proposed
auction, along with the name
price set by the Benchmark Pricing
of the current auction.
Function.
Figure 2 – Auction screen

The Quorate status in the The Participant viewing the

auction page confirms how auction will be able to see if
many Participants are present there are any other accounts
within the auction. logged in during the auction.

The proposed price of the The option to flag up, which

metal during the auction is will prevent an auction
displayed here. completing while positions
are reviewed (not for Direct
Clients).
During the auction the total
submitted interest will be visible
when inputted into the system, The Participant’s own submitted
along with the calculated interest will be visible when
imbalance. inputted into the system.

7
LMEbullion – Technical Guide Version 2.

5 Frequently Asked Questions

5.1 How to request for a new User account?

All existing Participant firms may request for new user accounts to LMEbullion, these
requests should be directed to Trading Operations via email.

Email Address: Tradingoperations@lme.com

An email will be sent acknowledging your request and a response will be provided once it
has been reviewed, a new user form will need to be completed by Compliance Officer.

5.2 What Auction Data is published for Platinum and Palladium?

LMEbullion Auction data will be disseminated via LME’s real time market data feed
LMEselectMD. The auction data consists of the following:

• Aggregated Buy and Sell Orders of Interest (in Troy Ounces) known as;

• ‘Total Wanted’ and ‘Total Offered’

• The difference between the Total Wanted and Total Offered known as;

‘Total Imbalance’ (in Troy Ounces)

• Confirmed Auction Prices for each Metal in USD, EUR and GBP.

For a list of licensed LME Market Data Vendors whom publish this data, please refer to the
link: http://www.lme.com/metals/precious-metals/pgm-data-distributors/

5.3 What will happen in the event of a system failure?

LMEbullion consists of a primary and a secondary application server. In the event of the
primary application server failing, the service will failover to the secondary application
server.

As a failover occurs Users will be disconnected from LMEbullion. However they will be able
to reconnect once the secondary application sever has resumed the service. Upon
reconnection, the session state will be seamless and the auction will resume once the
required quorate has reconnected.

5.4 Where is the latest information for LMEbullion?

System information for LMEbullion will be available on the LME website; including technical
documentation and in addition to the System Status page (shown in 5.5).

8
LMEbullion – Technical Guide Version 2.

5.5 System Status Notifications

In the event of; a disruption to the service, an upgrade to the system or any technical
announcements regarding LMEbullion, the system status page on the LME website will be
used as a source of information and to provide updates.
Link: http://www.lme.com/trading/venues-and-systems/systems/lmebullion/lmebullion-live/

The system status page contains ‘traffic light’ notifications, consisting of:

• Green Light: Indicating that the status of the system LMEbullion is fully operational
and there is no disruption to the service.
• Amber Light: Indicating a disruption to the service, or system issues that may impact
the functionality of LMEbullion.
• Red Light: Indicating a system failure, whereby LMEbullion will be inaccessible.

Within the system status page, the ‘traffic light’ status of the system will be visible (shown in
Figure 4). Additional information will be visible as the system is selected (shown in Figure 5)

Figure 4 – LME System Status Information

Figure 3 – LME System Status Page

9
LMEbullion – Technical Guide Version 2.

5.6 LMEnet Explained

The information below provides a detailed account of LMEnet, LME’s dedicated wide area
network. LMEnet provides LME Exchange Participants with a fast, reliable and secure
connection to all of the Exchange’s systems.

Access to LMEbullion is supported via LMEnet Premium, LMEnet and LMEnet Remote.

• LMEnet Premium:

Designed for latency sensitive applications, this standard of service provides the lowest
possible latency of connectivity. Exchange Participants of LMEbullion will be able to connect
directly into LME’s data centres using 1Gb latency optimised circuits, this can be delivered
on dedicated fibre pairs or on latency optimised DWDM (Dense Wavelength Division
Multiplexing) systems.

• LMEnet:

LMEnet provides a high quality service for Exchange Participants who trade, match, clear
and use market data. This standard of service will provide connectivity that will leverage the
3rd party core network, coupled with Ethernet access circuits from the Supplier and other
carriers.

• LMEnet Remote:

This standard of service is designed for small offices and does not suit latency sensitive
applications. There are two suitable solutions offered to Exchange Participants.

Option 1: LMEnet Remote provides an MPLS connection using a 3rd party IP VPN
service, either directly on the Supplier’s network or through an MPLS partner via an
NNI.

Option 2: Using an Internet VPN connection where an Exchange Participant can use
their own ISP, with IPSec connections established between the managed client site and
a VPN concentrator within the IP VPN core.

10
LMEbullion – Technical Guide Version 2.

5.7 How can I obtain more information on LMEnet?

For more information regarding LMEnet, please visit the LME website, using the details
below.

Visit: http://www.lme.com/trading/venues-and-systems/systems/lmenet/

You will then be able to view the below screen (shown in Figure 6)

Figure 5 – LMEnet Information Page

From here an LMEnet overview is available, consisting of information such as; an LMEnet
Connectivity Guide, LMEnet pricing structures, contact information and frequently asked
questions.

11