TMX Atrium has linked to LME at LD4 (London 4) and Interxion, to deliver instant access into the heart of the LME for members of TMX Atrium’s community. As trading methods have become more complex, participants continue to acknowledge that the capability to access and trade multiple asset classes is critical in order to diversify trading strategies, the company said in today’s release.
TMX Atrium’s access to LME’s trading and back-up data centers allows members of the TMX Atrium community to re-purpose their connectivity infrastructure to trade between a wide variety of equity, FX, derivative, multi-asset class and commodity venues. This is a capability increasingly required as greater electronic price discovery moves into hard commodities, the company said.
“Electronic price discovery across the commodity markets is becoming standard for members of the financial services industry. Adding LME to the TMX Atrium community further increases the range of trading venues available to our international trading community, ” said Emmanuel Carjat, managing director, TMX Atrium. Founded in 2006, TMX Atrium provides the capital markets community with highly-scalable connectivity between multiple markets and multiple trading venues. In July 2011 TMX Atrium (formerly Atrium Network) was acquired by TMX Group.
Commenting on the move by its exchange, Chris Evans, head of business development, LME added, “We have invested significantly in our platform to reduce latency and to ensure that we remain attractive to the new breed of investors looking to trade metals electronically. TMX Atrium’s connectivity capabilities offer LME market participants another choice in how they access our exchange.”
The London Metal Exchange, acquired by the HKEx Group, is the world center for industrial metals trading. More than 80 percent of global non-ferrous metals business is conducted on its three trading platforms: LMEselect (electronic), the Ring (open outcry) and the 24-hour telephone market. The world’s metal community uses the LME to trade futures, options, and its latest contract, LMEswaps.