Trading
eFIRST Trading is a complete solution for companies offering trading and brokerage services on the LME. The solution has been specifically designed for LME members and their clients. It is web-enabled and comprises of three major modules, all of which are fully customisable and are usually implemented together to provide Straight Through Processing to back office systems. Specific client requirements can also be met as the solution allows the client to choose which existing applications can be integrated with it, including LME Select.
All information is organised in a clear format to allow traders to quickly and efficiently answer and track RFQs. The Quote Stack displays all RFQs for which the trader has given a quote and the global Common Order Book allows a trader to view all existing orders from all locations worldwide in one electronic order book via the internet.
The trades are sent electronically from clients and are automatically entered by the trader who can filter them by criteria including date, metal, client, currency and trade status. The Trader can then post matched trades to LCH with a click of a button, removing the need to re-key.
eFIRST Trading provides online client services with instant reports on accounts, positions, etc, which are all displayed in a common format, making it easier for clients and traders to communicate effectively. Brokers can follow all positions and other key information in one on-line book and as the system does not require users to re-key trades information, user error is reduced and key information can be passed automatically between the client, trader, and the LCH.
