The London Metal Exchange has reintroduced its reciprocal membership arrangement (RMA) with Hong Kong Exchanges & Clearing (HKEX), waiving both annual subscriptions and processing fees for new applicants that already hold a membership in either of the exchanges.
The scheme was first introduced in November 2014, intended to encourage participation across both exchanges. The RMA period initially lasted for one year, before an extension was put in place until December 2016.Originally, the RMA was intended to support the launch of the Asia Commodities products introduced in 2014. These included the London aluminium, copper and zinc mini futures, defined as smaller, five-tonne cash-settled futures contracts settled against...