The London Metal Exchange will introduce a financial over-the-counter (OTC) booking fee, which will be payable from June 1, the exchange said on Thursday March 1.
Following a consultation period with the market, the exchange announced on Thursday that it will set a OTC booking fee of $1 per equivalent LME lot which will be paid by financial institutions for each OTC trade executed in place of an LME client. "The consultation feedback provided a range of viewpoints regarding the OTC booking fee - some were in favor...