Chicago-based R.J. O’Brien & Associates (RJO), the oldest and largest independent futures brokerage and clearing firm in the United States, today announced that its London-based affiliate R.J. O’Brien Limited (RJO Limited) has successfully gone 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 said: “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 U.S. as a general clearing member.”
David Mudie, Chief Executive Officer of R.J. O’Brien in Europe said: “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.”