An LME trade that is carried out after the normal period for a 'cash' trade (i.e. for delivery two business days later) A cash today trade between brokers can only be done prior to the commencement of the official rings at 12.30 and is for delivery on the next business day. Customers' cash today trades must be completed by 12.20 on the trading day before the delivery day. Also referred to as '"tom next"'.