The London Metal Exchange has received its first application ahead of its introduction of the Registered Intermediating Brokers (RIBs) membership category, according to a note to members on Wednesday February 27.
Freight brokerage firm Simpson Spence & Young (SSY) confirmed to Fastmarkets that the firm's membership is now being considered by the LME and circulated to existing members for approval. "We are very interested in broking the new LME aluminium, alumina and cobalt contracts. These markets will benefit from having a voice-broker like SSY, who is used to OTC-style deal...