Matthew Chamberlain is the chief executive of the London Metal Exchange and a member of the management committee of HKEX Group.
Matthew joined the LME in 2012, having advised HKEX on the acquisition of the LME while at UBS. He started his career at Citibank, and holds an MA from Trinity College, Cambridge.
Matthew spearheaded the introduction late last year of the LME’s responsible sourcing rules. These are underpinned by the OECD guidance on responsible supply chains and require producers of LME-listed brands to map their supply chains, assess associated risks and undertake assurance appropriate to those risks. This work – and the transparency around it – will mean consumers can be assured that all the physically settled metal traded on the LME is responsibly sourced.
The London Metal Exchange is the world centre for industrial metals trading. Most of the world’s non-ferrous metals business is conducted on its three trading platforms: LME select (electronic), the Ring (open outcry) and the 24-hour telephone market.
The global metals community uses the LME to trade futures and options to hedge against adverse price movements – prices which are discovered on LME markets and used as global references.
In 2019, 176 million lots were traded at the LME equating to$13.5 trillion and 3.9 billion tonnes notional, with a market open interest high of 2 million lots.
In December 2019, approximately 1.9 million tonnes of material were held on LME warrant in 500 storage facilities in 14 countries across 33locations globally.
Participants can transfer or take on price risk against aluminium, copper, nickel, tin, zinc, lead, molybdenum, cobalt, steel scrap, rebar and hot-rolled coil, aluminium premiums and alloys, as well as the LME’s suite of gold and silver contracts, LME precious. All LME trades are cleared by LME Clear, which provides clearing and settlement services for users of the LME on all Ring, electronic and telephone trades.
An HKEX Group company, the LME also provides benchmark administration services to the platinum group metals community.