The initiative, which debuted as a concept at the Global Lithium, Battery & Critical Materials conference in Las Vegas this June, addresses a significant gap in the lithium supply chain. While mature commodity markets rely on sophisticated electronic workflows, lithium trading has lagged in transparency and connectivity. Through this partnership, TMX Trayport will supply the underlying platform technology, while Fastmarkets retains operational control and oversight, guided by an advisory group of industry participants.

Raju Daswani, CEO of Fastmarkets, noted that the choice of TMX Trayport stems from their track record in complex commodity environments. For TMX Trayport, the move represents an expansion into a high-growth sector. Matt Brief, president of TMX Trayport, highlighted the opportunity to introduce digital workflows into a market where electronic networks remain in their infancy. The platform is intended to complement Fastmarkets’ existing IOSCO-compliant benchmark prices, which currently serve as the settlement reference for futures contracts on the CME, London Metal Exchange, ICE, and SGX.