LCE AND IPE ELECT FIRST TRADED OPTIONS MEMBERS The first 23 members have been elected to the joint traded options facility of the London Commodity Exchange (LCE) and the International Petroleum exchange (IPE), the exchanges said in a statement. More firms have applied and the final tranche will be admitted on April one and trading is planned to start in early June on the new trading floor on Commodity Quay. Traded options need a volatile and liquid futures base to succeed and chairman of the joint formation committee Jack Patterson said the existing LCE cocoa, coffee, sugar and IPE gas oil contracts should have no difficulty in providing this.