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moly|LCH.Clearnet will clear minor metals on LME
   Hits：   UpdateTime：2010-1-20 14:55:51
Keyword：mo,lundon metal market trade
Elan Website Press：
    LCH.Clearnet will start clearing minor metals for the London Metal Exchange when it launches its cobalt and molybdenum contracts on February 22, the company said.
The clearing services will increase transparency and liquidity as well as anonymous post-trade processing, and will allow market participants to manage their counterparty exposure, it said.
“Cobalt and molybdenum are both by-products of metals already cleared at LCH.Clearnet and, as the leading clearer of commodities in Europe, this is a natural extension to the existing clearing services we provide to market participants,” said David Farrar, director of commodities and metals at LCH.Clearnet, in a statement. “The launch of minor metals contracts on the LME is a major strategic move to broaden our metals portfolio and we are delighted that LCH.Clearnet is partnering with us on this initiative,” LME ceo Martin Abbott said in the statement.
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