Industry




THE LONDON METAL EXCHANGE

APPLICATION FOR EXEMPTIVE RELIEF

NOTICE OF COMMISSION ORDER



On December 21, 2018, the Commission issued an order (Order) under section 147 of the Securities Act (Ontario) (OSA) exempting The London Metal Exchange (LME) from the requirement to be recognized as an exchange under section 21 of the OSA and under section 80 of the Commodity Futures Act (Ontario) (CFA) exempting LME from the requirement to be registered as a commodity futures exchange under section 15 of the CFA.  The Order further provides for relief from certain requirements of section 22 and section 33 of the CFA in respect of trades of LME contracts.

A copy of the Order will be published in Chapter 2 of the Bulletin.

The Commission published LME’s application and draft exemption order for comment on November 8, 2018 on the Commission’s website at www.osc.gov.on.ca and in the Commission’s Bulletin at (2018), 41 OSCB 8939.  No comments were received in respect of LME’s application.  Certain non-substantive revisions were made to the Order from the version published for comment.