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The invention relates to an oxidic catalyst composition comprising 5-60 wt% of a divalent metal, 5-60 wt% of a trivalent metal, and 35-60 wt% of a rare earth metal, calculated as oxide and based on the total weight of the oxidic catalyst composition. The invention also relates to a process for preparing such an oxidic catalyst composition. This composition is suitable as metal trap in FCC processes.