Amalgamated Metal Trading

What Amalgamated Metal Trading does

Amalgamated Metal Trading Limited (AMT) is a London-headquartered metal derivatives broker and dealer providing execution and market-making services across the London Metal Exchange (LME), CME Group (COMEX/NYMEX), and the Shanghai International Energy Exchange (INE). The company is one of only eight LME Ring dealing members globally and is authorised and regulated by the UK Financial Conduct Authority, with additional memberships in the London Bullion Market Association (LBMA) and the London Platinum and Palladium Market (LPPM). AMT serves commercial hedgers (producers, manufacturers, consumers, merchants, scrap dealers), global trading companies, hedge funds, and financial institutions, executing across base metals (aluminium, copper, nickel, lead, tin, zinc), precious metals (gold, silver, platinum, palladium), and ferrous metals (steel, steel scrap, HRC, rebar).

The firm's technology stack combines Direct Market Access (DMA) platforms (Trading Technologies, ATP, CQG) with proprietary client tools including AMTLive (real-time trade and account reporting portal) and the AMT Market Intelligence Hub (Power BI-hosted data visualization platform). AMT also deploys proprietary algorithmic trading models for aluminium and copper that analyse technical and momentum indicators. The firm operates from offices in London (headquarters), Shanghai, Singapore (opened October 2020), and Dubai (opened February 2026), and provides multilingual support in English, Mandarin, German, Polish, and French.

AMT generates revenue primarily through commissions and spreads on futures, options, and OTC transactions (including average price contracts) across exchanges and inter-office markets. It operates as a wholesale broker dealing exclusively with Eligible Counterparties and Professional Clients under FCA rules, with distribution executed through relationship-based direct sales rather than self-service channels. The company is a wholly-owned subsidiary of AMC Group (Amalgamated Metals Corporation) and traces its institutional lineage to the founding members of the LME in 1877, having been formally established in 1975 from the merger of four LME floor trading companies.

Name

Amalgamated Metal Trading

Legal name

Amalgamated Metal Trading Limited

Website

https://amt.co.uk

Company type

Private

Founded year

1975

Operating status

Operating

Headcount range

11–50 employees

Short description

Amalgamated Metal Trading is a London-headquartered, FCA-regulated metal derivatives broker and LME Ring dealing member providing execution and market-making across LME, COMEX/NYMEX, and INE to commercial hedgers, trading companies, hedge funds, and financial institutions worldwide.

Ownership category

akta.pro rank

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure, Others

Revenue model

1. Metal Derivatives Brokerage: AMT operates as a broker and dealer for metal derivatives, providing execution services across base metals, precious metals, and ferrous metals on exchanges including LME, CME/COMEX/NYMEX, and INE. Revenue is generated through commissions and spreads on futures and options contracts, as well as OTC transactions including average price contracts.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

AMT is a metal derivatives broker and dealer providing execution, market-making, and brokerage services for base metals, precious metals, and ferrous metals contracts on the London Metal Exchange (LME), CME/COMEX/NYMEX, and the Shanghai International Energy Exchange (INE). Services include dual-capacity execution across LME Ring trading, electronic platforms, and inter-office markets, supplemented by proprietary client tools for reporting and market intelligence. The firm exclusively serves Eligible Counterparties and Professional Clients as defined by FCA rules.

Product overview

AMT offers a unified metal derivatives trading platform combining electronic DMA platforms (AMTLive, AMT Market Intelligence Hub) with core exchange trading services across LME, COMEX/NYMEX, and INE. Services include base metals, precious metals OTC, and ferrous metals derivatives with LME warrants and arbitrage capabilities across London, New York, and Shanghai.

Differentiator

Problem solved

Functional benefit

Brands

• AMTLive: Real-time online reporting portal providing access to trade and account information
• MyAMT
• AMT Hub

Products and services

• AMTLive Real-time online reporting portal providing instant access to live trade data and static reporting, with improved ergonomics, visuals, and device accessibility for professional clients.
• AMT Market Intelligence Hub User-friendly interactive data visualization platform hosted through Power BI, providing clients with easy access to relevant metals market data, weekly market commentary, and datasets accessible via any browser.
• AMT Insight Portal Client-only portal providing access to the AMT Intelligence Hub and Insights & Resources, with membership registration available for existing and new professional clients.
• Direct Market Access (DMA) Electronic trading service allowing clients to access LME markets directly through four separate provider platforms (Trading Technologies, ATP, CQG) with API connectivity for clients operating their own GUI.
• London Metal Exchange (LME) Trading LME Level 1 ring dealing member service providing brokerage and market-making for base metals and ferrous metals futures and options, LME warrants trading, and OTC average price contracts.
• COMEX/NYMEX Trading Full trading service on CME-owned COMEX and NYMEX exchanges for copper, aluminium, and precious metals, with a specialist arbitrage desk for simultaneous London and New York trading.
• Shanghai International Energy Exchange (INE) Trading

Named customers4 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

AI capability3 records

Feature4 records

Partnerships

Six partnerships are on record, tiered core and minor.

• London Metal Exchange (LME)coreStrategic or Co-development PartnerAMT is a ring dealing member of the LME, providing floor trading services for base metals and ferrous metals derivatives. AMT actively participates in LME committees including the ring dealer committee, user committee, steel committee, and tin committee, influencing market development.
• Shanghai International Energy Exchange (INE)coreStrategic or Co-development PartnerAMT is an approved overseas intermediary member of INE, providing access to bonded copper futures for companies seeking exposure to China's domestic market. INE offers yuan-denominated physically settled monthly copper contracts.
• CME Group (COMEX/NYMEX)coreStrategic or Co-development PartnerAMT offers full trading services on CME-owned COMEX and NYMEX exchanges in New York for copper, aluminium, and precious metals. Has a specialist arbitrage desk for simultaneous London and New York trading.
• Futures Industry Association (FIA)minorStrategic or Co-development PartnerAMT is a member of FIA with team representation on the European Advisory Committee.
• London Bullion Market Association (LBMA)coreStrategic or Co-development PartnerAMT is a member of LBMA and has committed to the Global Precious Metals Code. Provides OTC precious metals hedging for gold, silver, platinum, and palladium.
• London Platinum and Palladium Market (LPPM)coreStrategic or Co-development PartnerAMT is a member of LPPM, enabling provision of OTC precious metals hedging services for platinum and palladium alongside LBMA membership.

Scale indicators3 records

Recent moves8 records

Expansion highlights6 records

Broad incumbents

• R.J. O'Brien: R.J. O'Brien is one of the largest independent futures brokers in the US, providing execution and clearing across commodity markets including metals; it competes for institutional metals order flow but offers a much broader product set beyond AMT's metals focus.
• BGC Group: BGC Group (which acquired GFI Group) is a global financial brokerage operating across rates, FX, credit, and commodities, including metals; it is a broader incumbent with voice and electronic execution that overlaps with AMT's metals franchise but spans many more asset classes.
• Mizuho (Metals & Commodities): Mizuho's Metals & Commodities business (including the legacy Newedge franchise) is a global bank-affiliated broker with LME membership and metals execution capabilities — comparable to AMT on exchange access and institutional client coverage but operating within a much larger diversified platform.
• ADM Investor Services: ADM Investor Services is the brokerage affiliate of Archer Daniels Midland, providing global futures execution, clearing, and market intelligence across agricultural, energy, and metals — a broader incumbent that overlaps with AMT in metals execution for institutional clients.

Others

• Gunvor Group: Gunvor is a major physical commodities trader with metals exposure and proprietary trading desks that interact with metals brokers like AMT for hedging and liquidity — thematically adjacent rather than a direct broker competitor, but a meaningful ecosystem participant.
• Trafigura: Trafigura is a global commodities trading house with significant non-ferrous metals flows and a derivatives book that consumes metals brokerage services — a counterpart and ecosystem participant rather than a direct broker competitor, but relevant to AMT's commercial hedger client base.

Direct peers

• Sucden Financial: Sucden Financial is an FCA-regulated, LME-member broker offering futures execution and clearing across metals, FX, and soft commodities, directly comparable to AMT's broker-dealer model for institutional hedgers, funds, and trading companies.
• ED&F Man Capital Markets: ED&F Man Capital Markets is an LME member and one of the few specialist metals and soft commodities derivatives brokers operating globally, with execution and market-making services that closely overlap AMT's base metals and precious metals franchise.
• StoneX: StoneX (formerly INTL FCStone) is an LME member and a global financial services firm providing metals derivatives execution, clearing, and market intelligence — a closely comparable metals brokerage franchise with overlapping exchange memberships and client base.
• Marex: Marex is another LME Ring dealing member and a leading global metals and commodities derivatives broker providing execution, clearing, and market-making across base, precious, and ferrous metals — directly comparable in franchise, exchange memberships, and client segments to AMT.

Market position

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

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• YouTubeyoutube.com/watch?v=mayVdpMry7g
• LinkedInlinkedin.com/company/amalgamated-metal-trading

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Amalgamated Metal Trading