LME approves resignation of HSBC Bank as Category 2 member
The London Metal Exchange (LME) has issued a notice that it has approved the resignation of HSBC Bank Plc (HSL) as Category 2 Member pursuant to Regulation 10.3(a) of Part 2 of the LME Rulebook.
LME Clear Members are similarly advised that HSBC Bank Plc will withdraw from Membership of LME Clear in accordance with the LME Clear Rules and Procedure Rule 3.6.
Both the LME & LME Clear resignations took effect from close of business on 2 December 2022. All system access to LME and LME Clear will also be disabled in accordance with the above date and timeline.
The London Metal Exchange (LME) has seven categories of membership for the base service, and two categories of memberships for Registered Intermediating Brokers (RIBs), each with its own criteria and capabilities. Categories 1 and 2 are General Clearing Members who can trade for own account and on behalf of clients.