Physical Commodity Dealing

Using the Exchange

INSCX exchange is open to a variety of users.

These users are termed members and consist of Producers, end users, merchants, associate trade and access-only members.

The Exchange can be used to physically trade listed materials, where participants are registered and approved by the Exchange.

Alternatively, members can opt to simply use the Exchange to for price discovery and trade data purposes.

 


Exchange Members/Users by Category

Commercial Members

  • Defined as producers of or approved end-users of listed materials
  • Commercial users can instruct or report trade through the Exchange
  • Required to formally register with the Exchange and be approved
  • Annual Cost (2018) £10,000
  • Commercial users instruct trade via a non-commercial Merchant member of the Exchange
  • Pay Exchange/merchant fees on completed trades

Merchants

  • Defined as non-commercial users authorised once approved by the Exchange to act as execution agent on behalf of Commercial and Associate Trade members. Speculative trade by merchants is prohibited
  • Annual Cost (2018) £20,000 per Merchant
  • Permitted to charge fees based on a % of the transaction value of the trade executed
  • Merchants accepting commercial member instructions place instructions on the trade platform through the Specialist Merchant, which is a wholly owned subsidiary of the Exchange that manages the live trade platform

Associate Trade Members

  • Associate Trade Members members are defined as producer sales/trading arms
  • These members trade through the Exchange similar to a Commercial member
  • Annual Cost (2018) is £10,000
  • Members wishing to instruct trade instruct do so through a Merchant member of the Exchange

    Access Only Members

  • Access Only members are users who are permitted to view the Exchange trade platform for price discovery, research or data purposes.
  • Annual Cost (2018) is £2,500

 


Getting Started

Register with the Exchange

  • The Applicant decides whether to register with the Exchange as a Producer, End-User, Merchant or Associate Trade member
  • Click the LOGON link on the Exchange Live Dealing web site or contact the Exchange Registrar
  • Complete the online registration form
  • On receipt a member of the Exchange operations staff will review and process registration
  • Secure LOGON to the Exchange electronic trade platform, TORS® is issued
  • Applicant guided to complete remains steps of registration process to commence physical trade

Stage 2: Physical Trading

  • To instruct physical trade through the Exchange ALL members must first open a Commercial trade account with the Specialist Merchant member of the Exchange
  • On opening the member can opt to instruct trade through any of the approved merchant members, who will act to execute physical trade on their behalf
  • Trade instructions are conveyed member to merchant to specialist for anonymous broadcast on the trading floor
  • All trading on the Exchange is principal to principal, best execution, fully funded

Category C: Associate Trade Members

  • Associate Trade Members (AT’s) can choose to use the Exchange to trade, or if not wishing to trade, to subscribe for price data access.
  • Users requiring data access only are termed Access-Only members and are charged the annual subscription fee of £2,500
  • (AT) Members wishing to conduct physical trade open a Commercial trade account and choose a Merchant to act on their behalf
  • Any trade instructed must be executed in accordance with the principal of best execution and classed as an Agency trade
  • Further information on Associate Trade and/or Access only membership can be obtained from a member of the Exchange staff

Listed for Trade

 

       

Nanomaterials

Engineered Nanomaterials (ENMs), nano-enabled commodities, objects and devices. Quoted on a single and/or multiple producer basis, validated, compliant, DAS track/traced and EHS compliant.

Polymers

Physical polymers for EU delivery quoted by Chemical family in Polypropylene (PP) and Polyethylene (PE) types. Quoted on real-time Aggregate Spot, Contract and Fixed Term basis.

EMEA Base Oils

EMEA Group I, Group II and Group III Base Oils. Quoted on a Baltic, Black-sea, Med and Turkish port basis. Spot and contract trade types permitted.

Titanium Dioxide

Primary Chinese producer rutile and anatase grades listed CN port basis. EU and US door-to-door delivery pricing available on request. Quoted spot and fixed term price basis.