Bloomberg News

FCStone Approved as Cat. 2 Member of London Metal Exchange

September 30, 2011

(Updates with LME’s total membership in second paragraph.)

Sept. 30 (Bloomberg) -- Intl. FCStone Inc. was approved for category 2 membership, associate broker clearing, of the London Metal Exchange, the exchange said in a notice to members.

OAO Magnitogorsk Iron & Steel, the Russian steelmaker, and and Metalliance LLP have been approved as category 5 members, according to separate notices e-mailed today. That boosted LME membership to 94 and category 2 membership to 27, Miriam Heywood, an LME spokeswoman, said.

Category 2 members have all the privileges of ring dealing members except that they may not trade in the ring. Category 5 members have no trading rights except as clients, according to the LME website.

The LME said in a separate notice it listed Port Klang, Malaysia, as a delivery location for tin.

--Editors: Claudia Carpenter, Tony C. Dreibus

To contact the reporter on this story: Agnieszka Troszkiewicz in London at atroszkiewic@bloomberg.net

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net


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