Chicago-based futures brokerage and clearing firm RJ O'Brien & Associates’ (RJO) London affiliate RJ O'Brien Limited is now live on the London Metal Exchange (LME) following its July 23 approval as a Category 2 clearing member.
RJO Chairman and Chief Executive Officer Gerald F Corcoran says: "We are very pleased to expand our capabilities and offer our clients direct services on the LME. This represents our first general clearing membership on a foreign board of trade. As we proceed on our product and regional growth initiatives in Europe and globally, we intend to strategically join a number of additional exchanges outside the US as a general clearing member."
David Mudie (pictured), Chief Executive Officer of RJ O'Brien in Europe, says: "In less than four weeks following our approval, we were able to establish the infrastructure to bring our clients direct LME access through both electronic and voice execution. We have successfully executed and cleared our first LME transactions and look forward to rapidly growing volumes through RJO in this marketplace."
