State Street Corporation (NYSE:STT) today announced that it has been selected by LME Clear Limited, the clearing house for the London Metal Exchange, as its cash investment agent to service the central counterparty’s cash reinvestment activity.

With over 40 members, including a number of the largest banks in the world, LME Clear provides clearing for one of the most liquid markets for trading base metals globally, and in 2025 cleared over 700,000 contracts per day.

State Street and LME Clear have commenced activity with a global agency repo service, including agency trading, to support LME’s cash reinvestment activity and enhance LME Clear’s portfolio liquidity management. State Street and LME Clear are also looking to integrate this service with other innovative solutions, including the execution of repo transactions via Sponsored Member and Peer-to-Peer models.

Travis Keltner, Global Head of Secured Financing, commented:

“We are pleased LME Clear has placed their trust in State Street with this opportunity, and we look forward to building upon our budding relationship. Over the years, State Street Market’s Secured Financing business has been innovating and expanding global products to better support our clients in the ever-changing market environment. State Street’s experience in supporting our clients’ financing and short-term investment needs through reliable and efficient access to diversified financing sources, truly positions us as one of the leading custodial lenders in the world.”

Joseph Thompson, LME Clear Head of Treasury, noted:

“Ensuring the safety and liquidity of our members’ cash is of paramount importance to us. Partnering with State Street will add further resilience and flexibility to our existing front to back-office Treasury activities, supporting capital and liquidity preservation on behalf of our members. We look forward to developing a long and successful relationship with State Street.”

Simon Nottage, EMEA Head of Financing Solutions, commented:

“We are excited to be appointed by LME Clear and to begin a partnership with such an established participant of the financial markets both in the UK and globally. Providing lasting solutions for our clients and forming partnerships is core to our Financing Solutions business and we look forward to continuing to develop this with LME Clear.”