On Feb. 11, 2025, UK LME issued notice re current PLP program due to end Feb. 28.
Given its success LME is renewing the PLP Program for a further twelve-month period.
Notice confirmed that renewal of the PLP program will start on Mar. 1, 2025.
On Jan. 27, UK LME advised of proprietary liquidity program renewal.
UK LME advised of proprietary liquidity program (PLP) renewal for 12 further months.
Follows UK LME Dec. 2019, issued circulars on collateral and liquidity, see #68973.
Summary
Launched Mar. 2020, to broaden participation/improve market quality on LMEselect.
UK LME says current structure increases market liquidity/new market participants.
Current PLP program terminates Feb. 28, 2022, but being extended due to its success.
New applications for renewed PLP can be made in accordance with the specification.
UK LME may withdraw participants from new PLP if attestations not sent by renewal.
Document details governance and applications, includes questions and answers, and contains annex 1, outlining the specification and annex 2 detailing general terms.
Effectiveness
Renewed PLP starts Mar. 1, 2022, until Feb. 28, 2023, without material amendment.
Feb. 2023 PLP Renewal
On Feb. 8, 2023, UK LME published a notice to communicate the renewal of the proprietary liquidity program (PLP) for a further twelve-month period.
The current PLP terminated on Feb. 28, 2023 but given the success of the PLP, UK LME is renewing the PLP starting Mar. 1 for a further 12-month period, until Feb. 28, 2024.
Feb. 2025 Renewal
On Feb. 11, 2025, UK LME issued notice re current PLP program due to end Feb. 28.
Given its success LME is renewing the PLP Program for a further twelve-month period.
Notice confirmed that renewal of the PLP program will start on Mar. 1, 2025.
Regulators
UK LME
Entity Types
B/D; Bank; Exch; FCM
Reference
Nt 25/039, 2/11/2025; Nt 23/022, 2/8/2023; Nt 22/024, 1/27/2022
Functions
Actuarial and Valuation; Financial; Operations; Trade Reporting; Trading; Treasury
