With the Majority of the Physical Contracts being priced against the London Metal Exchange (LME) and the London Bullion Market Association (LBMA) the MRI TRADING AG Hedging Department currently only fixes the prices for the physical contracts using broker lines on these exchanges. The reason for hedging the physical contracts is to minimise the exposure to the price fluctuation. The Hedging Department also is required to trade with a number of LME and / or LBMA brokers that have Tripartite partnerships in place with MRI TRADING AG designated trade finance banks. This is important because it ensures that the designated financing bank gets the correct Hedge for the relevant deal. On occasion basis, the MRI TRADING AG LME Hedging department also provides hedging solutions to MRI TRADING AG client base that they maximise the market upside or protect against the market downside but linked to the relevant commercial off-take contract with MRI TRADING AG.