INSCX Market Model
INSCX is not a business-to-business (B2B) mechanism. The system employed by the Exchange operates a specialist merchant model of trade, similar in many respects to the market-maker/specialist function used by the majority of commodity exchange systems. Trading on INSCX is conducted via it’s Specialist Merchant(s). One a wholly owned subsidiary of INSCX, NCM Global Limited, is specific to polymers, base oils and other commodities, and in regard to engineered nanomaterials, Nanoshel (UK) Limited is a sales/trading merchant member of the Exchange. The Specialists act to complete the following roles:
(i) Update the Live Trade Platform:
Enter indicative and firm prices in respect of listed materials continuously during the daily trading session where there is no active live order buy/sell placed by a member of the Exchange.
(ii) Act as Counterparty:
All trade is conducted through the Specialist Merchant and this member acts as a counterparty match buying/selling between two instructing members, unless where trade is agreed on a bilateral basis direct between the buyer and seller. In the case of a bilateral trades, the Specialist acts to conduct the auction process on instruction and report any sale agreed for anonymous broadcast on the live trading platform.
Compile and circulate Exchange statistic reports such as Open interest reports, market news and trade fixes.
(iv) Manage Orders:
Approve and accept orders from other merchant members acting for commercial users of the Exchange.
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