London Metal Exchange chooses Interxion’s London data centre campus to host its new metals trading platform.
The London Metal Exchange (LME) has chosen Interxion’s London data centre campus as a location to expand its footprint, using its upgraded trading platform, LMEselect.
As the world’s largest market in futures and options contracts for base metals, the London Metal Exchange is the centre for global metals trading.
Interxion, which hosts over 200 capital market participants at its London data centre campus, is located at the centre of the European trading landscape. This makes it a logical choice to locate the primary LMEselect platform.
John Lee, CTO, London Metal Exchange said: “Interxion provides the ideal environment for our new LMEselect platform, with best in class power and cooling and excellent cross connect access to the exchange.”
The metal exchange is also expected to list its new LMEprecious product on the select platform when it launches in July 2017. The purpose of the LMEprecious, is to respond to market demand by making an innovative new suite of exchange-traded, loco London precious metals products available.
Interxion, who recently announced plans to expand its London campus, has made an investment of £30 million in a third London data centre ‘LON3’ and is scheduled to open in 2018.
Bill Fenick, SMD for Financial Services, Interxion, “We are pleased to see the expansion of the LME in our thriving Financial Services community here in London.
“They will be able to take advantage of our state-of-the-art facilities as well as interconnect to their customers and ensure the best possible performance from their infrastructure.”
The LME’s global base metals business is spread across its market, which in 2016 totalled to $10.3 trillion notional, 3.5 billion tonnes and 157 million lots.
By spreading its market reach to Interxion’s London campus, it will enable LME to scale larger in its global metals trading outreach.