The London Metal Exchange issued clarifications to its rules related to introducing brokers to accommodate situations where a non-LME member IB facilitates inter-office transactions between two counterparties that maintain accounts at one or more LME clearing members and the counterparties desire to remain anonymous to each other. Under LME rules, an IB is a person who introduces prospective counterparties to a member to transact on a principal-to-principal basis; a person who acts as agent for a counterparty and enters into transactions on behalf of the counterparty with LME members; or a person who acts on behalf of an LME member and enters into transactions for the member with counterparties. Because LME is a principal-to-principal market, a non-member client can never trade directly with another non-member. IBs can facilitate the flow of LME trades among non-member clients to LME members.