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INSCX™ exchange (The Integrated Nano-Science & Commodity Exchange) announces approval for members to license use of an advanced production process to supply high purity Copper (Cu) against the Exchange Grade A + contract. Qualifying producers who are invited to apply to license the process include LME registered or equivilant producers and/or producers evaluated ans passed Good Quality by INSCX™ exchange.
QUALITY SPECIFICATIONS: The contract (basis) grade for contract(s) shall be Grade 1 Electrolytic Copper Cathodes (full plate or cut), conforming to specification (as to chemical and physical requirements) for Grade 1 Electrolytic Copper Cathode as adopted by the American Society for Testing and Materials (B115-00), or its latest revision, or conforming to BS EN 1978:1998 with a purity higher than >99.9999%. Conformity to specification of underlying materials will be established by way of characterisation (inspection) ordered though the appointed inspectorate to the Exchange agreed with the qualifying producer.
GRADE TITLE: The Grade title shall be listed as Grade A + and/or Grade 1 + Electrolytic Copper Cathodes with a purity of >99.9999%. Grades denoted with purity less than the stated threshold will be denoted accordingly as to the proven %.
SUMMARY OF FEATURES:
· Process can be implemented in the existing copper refineries without essential changes in the tank houses' infrastructure - only customized power supplies and its dedicated software should be implemented.
· Up to 5 x higher cathode current densities can be used to obtain commercially pure copper. Typical current efficiencies are above 97%.
· Traditional stainless steel cathodes or starter sheets can be used.
· Cathode copper is received in broad spectrum of copper content in electrolyte from 50g/litre down to 1mg/litre
· Cathode copper is received with the exceptional commercial purity higher than >99,999%.
· No co-deposition of Arsenic neither evolution of dangerous AsH3 gas.
· No dendrites.
· Higher tolerance of contaminants in solution does not use reagents or chemicals.
PROMOTED BENEFIT: Selected consequences to the economic viability of the Process ARE CITED BY THE LICENSOR AS FOLLOWS:
· Reduced capital cost of copper production and recovery process.
· Reduced operating cost and a simplified flow sheet.
· Accelerated return on capital.
· Improved product purity and possibility to price it above usual market price.
· Higher productivity than conventional methods.
LICENSING: On completing and registration process with the Exchange the producer will receive a license agreement to use the process for supply of underlying materials exclusively against contract listed on the Exchange. This agreement will be issued jointly by the Exchange and vendor/licensor of the process. On signing the producer will be called upon to supply accompanied by a characterisation [inspection] certificate issued by an inspectorate acceptable to the Exchange a sample of 50Kg to establish physical conformity to listed specification. Where appropriate as in the case of a non-LME registered producer, the Exchange will require a formal producer registration to be completed.
PERMITTED TRADE TYPES: Trade may only be conducted in contract(s) pertaining to qualifying material(s) issued instructed to a Merchant member of the Exchange, conducted for delivery during the current calendar month, the next 12 calendar months, in intervals of 3, 6 and 12 months respectively. [Full specification and listing/delivery/settlement particulars are defined in the Exchange Contract(s) document(s) which are available on request to
DELIVERY: Trade in the Exchange contract is for physical delivery to locations approved by the Exchange as notified in the Contract Specification. [Full specification and listing/delivery/settlement particulars are defined in the Exchange Contract(s) document(s) which are available on request to
QUALIFYING PRODUCERS: Qualifying producers authorized to make good delivery against Exchange contract are as follows:
Any producer formally registered with the Exchange and licensed to use the process and/or,
Any LME [London Metal Exchange] registered producer registered with INSCX™ exchange licensed to use the process and/or,
Any RIE [Registered Investment Exchange] registered producer registered producer registered with INSCX™ exchange licensed to use the process.
TRADE INSTRUCTION: Trades are instructed through a non-commercial Merchant member of the Exchange in accordance with standard Conduct of Business Rules governing Agency/Principal trade as interpreted by the Global Commodity & Security industry. The producer to instruct formal trade will be asked to select a non-commercial merchant member of the Exchange for the purposes of instructing such trade for physical delivery on settlement. The Merchant will open and maintain within the Exchange clearing system a client account registered to the producer for the purposes of the producer drawing funds in their favour against completed trade on settlement. On the instance of trade funds will be immediately allocated favour the producer for release against delivery to the location agreed by parties to the trade. Merchant Details can be obtained from the Exchange registrar at: and/or via telephone to: + 44 (0) 203 137 5187.
FEES/ROYALTY: The Exchange will charge a published clearing fee relevant to trade against contract calculated as a % of the Gross Total Consideration of Trade [GTCoT] which will be levied equally against Principal buyer and seller to contract. Fees become due on the occasion of physical settlement. The % fee will not be permitted to exceed 0.75% charged either side of the trade making a total of 1.5% of which 2/3rds will be distributed to the Licensor issuing the authority to use the process so described herein.
REGISTRATION: Producers wishing to license use of the process for supply of underlying material against contract can in the first instance register with the Exchange using the online link stated and/or by submission in writing to:
(i) Registration Application in Writing:
Applications in writing to registered to supply against Exchange contract the underlying commodity are to be addressed to:
FAO: Brands Listing Manager, Physical Operations Department, INSCX™ exchange, Trade Centre, Barrington House, Alderley Edge, SK9 7LA, United Kingdom.
(ii) Registration Application Online:
Producers wishing to license use of the process can in the first instance register with the Exchange using the online link stated below:
Registration and payment of the annual Exchange registration fee permits a registered applicant to access the Exchange trade platform. Actual authority to instruct physical trade is permitted on formal account opening with a registered Merchant [non-commercial] member of the Exchange and on satisfying the Exchange as to ability to perform against contract in the designated commodities the producer wishes to trade in.
GENERAL REQUIREMENTS: Applicant Producers are afforded a certain degree of discretion as regards the verbiage they wish to use in their respective application to register. As a standard rule, registration requires the following information as standard:
Name and site address of the manufacturer.
Authorised Officer Details.
A summary of reserves if not registered with the LME and/or an RIE.
Payment of Exchange annual registration fee.
TRADE REQUIREMENTS: Producers are expected to complete the following to complete registration for trade instruction purposes.
Corporate Profile Summary if not LME/RIE approved.
Completion of Commercial Account Opening with a Merchant member of the Exchange.
SCHEDULE: Formal contracts are to be listed January 2013 onwards. Lot size will be set at 25,000 Lbs benchmarked to LME Grade A.
COMPLIANCE: Trade in the Contract series will be in accordance with Exchange rules for independent characterization, track/trace, indemnification and mandatory trade reporting in nominee as per Exchange disclosure protocols.
LISTING: Series to be listed Spot/Forward on TORS, the Exchange Trade Order Routing System. Access to TORS for trading purposes is made available to producers/converters, merchants and global commodity trade houses that are registered and paid up members of the Exchange established competent in meeting instructed obligation in trade.
Access only use is made available to any subscriber paid up. To register to and/or LOGON if registered with the Exchange, the link www.comdaq.net/comdaqnet.asp?calledsite=INSCX can be uploaded using a standard web-browser.
About INSCX™ Exchange
INSCX™ exchange [Central Clearing Limited] is a commercial user commodity exchange for physical delivery of underlying materials against listed contracts. Registration Number: 07787171.
To the extent the reader/user is entitled to disclose and distribute this document, the user may forward, distribute, and/or photocopy this copyrighted document only if unaltered and complete, including all of its headers, footers, disclaimers, and other information to appropriate parties only. INSCX™ exchange, Merchant Member firms thereof and/or Members admitted to the Official List [the “parties”] do not guarantee, represent, warrant, or otherwise guarantee, expressly or impliedly, the merchantability of material(s) supplied against contract(s), fitness for a particular purpose, or suitability of underlying material(s). The user is solely responsible for all determinations regarding any use of underlying material(s) supplied against contract(s) and any process in its territories of interest. The parties expressly disclaim liability for any loss, damage, or injury directly or indirectly suffered or incurred as a result of, or related to anyone using the underlying material(s). Exchange provision is enabled for user guidance on purchase of supporting Technical Support Contract(s) [TSC] relevant to the material(s) and reference to regulated and industry approved insurers. Listed contract(s) are not promoted as suitable for investment purposes, as defined by the UK Financial Services and Markets Act 2000 (Regulated Activities) provisions. Underlying material(s) delivered against contract(s) are subject to independent assurance to specification(s), good delivery, and in the case of engineered nanomaterials [NMs], compliance with Nanomaterials Safety, Health & Environment [SHE] good practices and INSCX™ “Track and Trace”.
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