OREANDA-NEWS. On August 27, 2009 Otkritie Securities Ltd (OSL) announced that it can now offer its clients the ability to trade in futures contracts on the London Metal Exchange directly, through the ‘SELECT’ electronic trading platform, reported the press-centre of Otkritie FC.

Until now, clients wanting to trade LME futures contracts have had to place their order with OSL which in turn has executed the trade via telephone through one of the LME’s authorized brokers or Ring members.

Now, using the CQG technology platform, OSL’s clients can execute their orders directly through ‘SELECT’.

Evgeny Kuteev, Head of Exchange Traded Derivatives at OSL in London, said, "We are delighted to be able to offer this new and unique service to our clients. The electronic platform offers much tighter spreads than the phone market, so we believe our clients will be able to save significant amounts of money by using this facility".

"It would not be possible without the CQG trading interface which links the various systems involved in each transaction, and we look forward to continuing to develop innovative solutions across a wide range of markets with CQG in the future".

Mike Glista, Director of Order Routing at CQG said, "We offer connectivity to more than thirty-five exchanges worldwide, including the LME, through our network of collocated Hosted Exchange Gateways. We are very pleased to be working with Otkritie Securities Ltd on this unique service, which will enhance access to LME futures contracts for a wide range of traders".