Long delayed and eagerly anticipated, the launch of LMEselect v10 will deliver a number of new benefits along with several challenges for market participants. It represents a much needed updating of technology and offers lower latency, new pre-trade risk management capabilities, and new functionality including persistent and GTC orders. At the same, v10 is entirely new technology and will have impacts that affect the full stack of middle and back office functions. The large and diverse members of the LME trading community have work to do to ensure that all processes function smoothly after the switch over.
LMEselect v10 is scheduled to launch on March 24, 2025.
There has long been a gap when it comes to trading data at Eurex and the Enhanced Drop Copy (EDC) / Exchange Drop Copy Interface (EDCI) will rectify this omission. Specifically, data pertaining to “Lean” orders has not been available in previous drop copy versions. Lean orders were designed to improve throughput and reduce latency for high-frequency trading but their exclusion from drop copy services left a gaping hole in order, transaction, and risk management for internal risk managers, brokers, and FCMs. EDC “is designed for participants seeking to enhance their pre-trade risk monitoring capabilities, or who specifically want to gain a comprehensive overview of their order inventory including lean orders, e.g. for the purpose of reconciliation.” As such, it is a valuable missing piece from the Eurex risk puzzle and its inclusion will enhance insights for traders, risk managers, and executives.
EDCI is also slated to go-live on March 24, 2025.
