LONDON - Bankers Trust International is applying to become an associate broker-clearer or category-2 member of the London Metal Exchange.

The application will be considered at the next meeting of the exchange's board meeting. If approved, BT Futures Corp., currently an associate trade clearing (category 3) member will resign its membership.

Category 2 members have all the privileges of ring-dealers on the exchange except that they cannot trade in the ring. Category 3 members also cannot issue client contracts.

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