J.P. Morgan Chase & Co (J.P. Morgan) completed its acquisition of the Global Metals Trading Business of RBS Sempra Commodities on 1 July 2010.

J.P. Morgan Securities Limited is now a Ring Dealing Member of the London Metal Exchange (LME) and The Royal Bank of Scotland Plc (RBS) has become an Associate Broker Member of the LME.

Your existing commodity contracts and all new business will remain with RBS until you agree to novate your contracts to an appropriate J.P. Morgan entity. Until such novation is effective, J.P. Morgan has the authority from RBS to act on their behalf with you for commodities business.

You can continue to trade through the SOLe platform and all new contracts will be issued in the name of RBS until novation.

All existing LME give-up agreements where RBS is the executing broker have been novated to J.P. Morgan Securities Limited on July 1st 2010.

J.P. Morgan Securities Limited and The Royal Bank of Scotland Plc are authorised and regulated by the Financial Services Authority.