The London Metal Exchange (LME) has today provided the detail of the contract specifications for both Polypropylene and Linear Low Density Polyethylene – the two plastics contracts that are to be traded on the LME. The specifications are being released as part of the launch process and to ensure that all interested parties, producers, consumers, traders and LME members can ready themselves for the contract launch.
LME chief executive Simon Heale confirmed progress with the contract development to date and the widespread enthusiasm that exists for this new contract, “We have engaged with the plastics industry and we are confident that the contract specifications provide the blueprint for the successful launch and continued trading of plastics futures contracts.
While there are a number of third parties involved, we are planning that the Exchange will be ready by the end of the year. I am convinced that the plastics industry and the Exchange’s membership will find value in this major development and the specifications will allow them to organise their resources in anticipation of the launch.”
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