Following comments received in response to its Discussion Paper on Market Structure on April 24, The London Metal Exchange issued a “Strategic Pathway” articulating its proposed way forward “to evolve the market for the benefit of all stakeholders.” Among other things, LME stated it should take steps to enhance its electronic third Wednesday liquidity while maintaining its daily date structure. However, it will not propose financial incentives to encourage trading in a particular manner. Likewise, as an accommodation to physical hedgers, LME will not propose daily mark to market collection and payment of losses and gains as is common on other exchanges. However, LME will work with its members to accommodate such a system should it be required “as a result of exogenous pressures.” LME does not commit to implement any of its proposed recommendations.