| LME minis are cash-settled monthly contracts of 5 tonne. The standard contracts are of 25 tonne. LME minis are traded electronically on LME Select and on the exchange's 24-hour telephone market. |
| "I am delighted to confirm that LME minis began trading, as planned," the exchange's Chief Executive Officer Martin Abbott said. |
| "The new contracts are a natural extension of LME's franchise and products distributed via its member firms. It is a franchise that we will continue to develop, building on the extensive reach of the member firms," Abbott said. |
| The LMEminis were earlier scheduled for launch on November 20, but were postponed to December 4, following some software problems on the new electronic platform, Select 5. |
| Even on Monday, LME Select reportedly had developed some software problems and trading was stopped for an hour. However, the system was up and running just before the scheduled launch time of the mini contracts. |
| Analysts said the mini contracts would enable the world's leading non-ferrous metal exchange to take on the New York Mercantile Exchange, which launched similar metal contracts on the Chicago Mercantile Exchange's Globex platform on Sunday night. |
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