London Metal Exchange (LME) is believed to be working with LCH Clearnet (LCH- C) to build an entire new clearing system. The exchange will also take another crack at launching a matching and registration system (MRS) next year, four years after it pulled the plug on its initial plans. Additionally, LME has revealed that it will soft launch its steel futures contract two months ahead of schedule.
LME is understood to be in discussions with LCH-C to build the new clearing system as its current system is based on the old TRS-CPS functionality. This will be overhauled to improve efficiency. "It is still being scoped and there is as...