The London Metal Exchange (LME) has approved the application of Clear Street for Category 1 membership, allowing it access to the LME's open-outcry trading floor. Clear Street's membership brings the number of dealing members on the LME floor trading back to eight. The LME had proposed closing ring trading three years ago, but opposition from the physical market led to a hybrid system. Clear Street's launch in the UK will aid its expansion outside of North America.