R.J. O’Brien and Associates, the largest non-bank futures clearing firm in the U.S., announced on July 23 that its U.K. affiliate has been approved as a clearing member of the London Metal Exchange. The membership allows RJO to provide direct access to LME markets with both voice and electronic execution.
“Joining the London Metal Exchange as a Category 2 member is the latest in a series of long-term growth initiatives for RJO in Europe,” Gerald Corcoran, the firm’s chairman and chief executive officer, said in a statement. “We’ve made significant investments in infrastructure and talented professionals as we continue to enhance our offerings and serve a growing client base.”
The LME membership is the latest move by RJO to build a bigger presence in London. The company established R.J. O’Brien (UK) Limited in 2012 and has been gradually adding staff under the leadership of David Mudie, a veteran industry executive. In March 2015, the company bought The Kyte Group, an independent clearing firm with a strong presence on several European futures exchanges, from GFI Group.