London Metal Exchange and Kynetix partner to deliver a global commodity custody solution

This service will allow metal owners to lodge their warehouse receipts in a secure depository, with electronic transfer, pledging and administration functionality. The system will be hosted on Sentinel, the market-leading electronic custody solution provided by Kynetix, and will be underpinned by the LME’s longstanding expertise in authorising, coordinating and auditing a global metals warehousing network. The service is expected to be launched in the fourth quarter of 2015 subject to the receipt of relevant regulatory approvals.