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INSCX exchange issues a formal First Call Notice to purchasing and supplier organisations inviting organisations to liaise with the Market Listings Committee (MLC) to discuss particular materials requirements for listing beyond the remit of the materials cited below to be listed on launch of the live trading platform.
The materials cited will be among those included in the initial product offering by the exchange to trade as Indemnified, Assured Delivery, ECMS (Exchange Contract Material Specification) INSCX Grade contracts:
Carbon Black (Various Grades), SWCNT (electronic grade), SWCNT (composites grade), MWCNT (filler grade), MWCNT (battery grade), Cerium Oxide, Calcium carbonate (filler grade), SiO2, Zinc oxide, TI02 (pigment grade), Ti02 (cosmetic grade), TiO2 (catalyst grade), Platinium, Paladium, Rhodium, Lithium, Quantum Dots (metal free), Quantum dots (metal containing), Water based Dispersions, Solvent Based Dispersions, LME 24 Tonne Bulk Polypropylene (Nanoclay) LME 24 Tonne Bulk Polypropylene (Nanotube), Cerium Oxide (Fuel Borne Catalyst) and Ultra-Clean Bio-Diesel (42,000 gallon lot size).
The Market Listing Committee are currently finalising the preliminary offering of formal contracts in the above series of (SHE) accredited compliant and validated engineered nanomaterials to be listed for trade on the exchange platform. The Platform is expected to be live ahead of schedule where launch was initially earmarked first quarter 2011.
The objective of INSCX exchange is to reflect material contract specifications of interest to both the supply and buy side of the community of engineered nanomaterials. While formal INSCX Grade Exchange Contract Material Specifications (INSCX Grade ECMS) in the materials cited will constitute the preliminary offering of exchange products on launch, the listings committee seeks to enable both suppliers and purchasers to request the live market on launch retains capacity to reflect materials specifications within and beyond the preliminary offering of products.
The Market Listings Committee will accept for evaluation materials specifications from nanomaterials suppliers and/or purchasers to be considered for inclusion in the exchange's preliminary product offering up until the close of business Tuesday, August 31st 2010. Specification requests filed subsequent to this First Call Termination date will not be processed until close of second quarter 2011. All specifications filed by the Termination Date will be considered for formal listing and if accepted qualify to trade as INSCX Grade contracts.
All INSCX Grade contracts will trade subject to the following features as standard:
INSCX Grade contracts listed for trade, irrespective of reflecting specifications initiated by the exchange in liaison with various agencies, and/or prompted at the request of suppliers and potential purchasers, shall each on being listed be permitted trade to execution in Cash (Spot), Forward (Future) and Traditional Option bargains.
The material and financial integrity of each trade executed to INSCX Grade contract specifications will be underwritten in accordance with exchange clearing and settlement regulations. These regulations ensure trade in (SHE) accredited engineered nanomateials meet trade requirements long accepted as necessary in the commercial exchange of raw materials.
Insurance and Supplier Standards
All products traded for physical delivery in accordance with listed Contract Specifications will be insured for Commercial, Political and Financial Risk in addition to being sourced without exception from (SHE) accredited sources.
All materials traded to INSCX Grade will be independently characterised (validated) on behalf of the exchange by IntertekMSG www.intertekmsg.com
Trades on behalf of customer counterparties will be conducted using exchange approved Brokers and Broker/Dealers held subject to exchange conduct of business, clearing, settlement and capital adequacy regulations.
While all market participants will be able to trade anonymously, executed bargains will be openly displayed on the trading platform listing particulars of material, price, quantity, delivery, country of origin and destination.
All INSCX Grade contract specifications will enable suppliers seeking to participate to apply to the exchange for Trade Financing to support supply upscaling. Qualifying suppliers will be provided financing set 1% above LIBOR to a consideration of GBP £1m. Trade Financing rates for bargain considerations exceeding GBP £1m will be set below 1% above LIBOR on a diminishing scale.
Where proprietary ownership of intellectual property is proven to the satisfaction of exchange attorneys an INSCX Grade Contract specification deemed subservient to proven IP will reimburse the proven IP owner an agreed royalty on the occasion of each trade in the contract series. Royalty or IP premium will be priced into the official quoted price of the contract.
All INSCX Grade contract specifications will permit syndicated (multiple) source of order fill on a competing price basis.
All contract specifications listed for trade by INSCX exchange will be formally registered with ISO Committee 229 and other standards agencies where deemed appropriate.
INSCX exchange adopts strict procedures to underwrite the material integrity of all product sourced through the exchange process. All trades will be settled delivery versus payment (DVP) on issuance of Certified Good Quality (CGQ) assurance clearing via the exchange Central Clearing System (CCS). CCS operates procedures designed to underwrite the financial integrity of all trades. Funds deposited and/or pledged by Approved member Firms acting to customer instruction using CCS will be governed under the principles of escrow.
Organisations holding potential buy and/or supply interest in trading for physical delivery (SHE) accredited, compliant and validated engineered nanomaterials within the remit of and in addition to those materials cited are invited to request the exchange consider listing for trade specifications in addition to those listed by way of preliminary product offering which best meet their specific requirements. Subject to sufficient uptake the exchange will move to list for trade these additional contract specifications in the requested specification/s which reflect a more specific supplier and/or purchaser interest. All additional specifications accepted will qualify as full INSCX Grade ECMS contracts. Requests submitted prior to the close of the First Call Termination Date will be evaluated for inclusion as formal INSCX Grade contract specifications in addition to those already nominated by the exchange to constitute the preliminary product offering to be listed for live trade on launch of the exchange platform. Please submit all Specification requests and follow up contact details to:
For more information, please click here
Market Listings Committee
INSCX exchange, United Kingdom
July 27th, 2010
+ 44 (0) 161 408 7068
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