From a press release issued by LCH.Clearnet...
The LME has today announced that it is considering building its own clearing house.
LCH.Clearnet has not received notice from the LME or indeed any indication regarding the likely timeframe. We have a long relationship with the LME and in particular with the LME market participants.
Ian Axe, chief executive of LCH.Clearnet said: “We value our relationship with the LME and shall continue to provide the LME and its members with an excellent service and the benefit of our unique experience in clearing for this complex market -- we are a leader in commodities clearing globally. Market participants tell us they are looking for proven, efficient and consolidated clearing offerings. LCH.Clearnet is best placed to continue to deliver this.”