FFastFill has successfully completed conformance processing and testing and will be offering full connectivity to the London Metal Exchanges new steel trading contract from its startup on 25 February.
On that date steel will be traded on the LMEs telephone market and its electronic trading facility Select. LME Steel will be the exchanges first non ferrous contract launch and introduces steel trading to the largest metals trading exchange in the world. The formal start of official trading is scheduled for 28 April.
FFastFill has for some time been a provider of exchange trading and risk management services to brokers trading on LME Select, the exchanges electronic dealing platform. It currently provides its advanced application services to nine LME Category 1 and 2 members.
For these members the ability to trade the steel contract via the FFastFill service on Select from day one is simply an add-on to the existing service.
“We estimate that the FFastFill conduit to LME Select already commands the largest volume of trading. The great virtue of our Application Services model is that new contracts and trading facilities are easily delivered, enabling LME members with FFastFill to get involved in the new market instantly,” says Keith Todd, executive chairman and CEO, FFastFil.