This Issuer’s Guide to Listing and Admission explains the onboarding process for Issuers. It outlines the necessary steps, the roles of the various counterparties, and pricing considerations.
- All metals approved for admission on TM2 must be vaulted with an accredited custodian and conform to strict quality, form and weight requirements, as specified by TM2.
- All metals must be inspected by Samplers and Assayers, who will issue certificates of analysis based on agreed sampling procedures to ensure the metals meet the contractually specified quality requirements.
Prospective Issuer must be Involved with the following metals:
- Vanadium (V)
- Beryllium (Be)
- Gallium (Ga)
- Germanium (Ge)
- Indium (In)
- Rhodium (Rh)
- Tantalum (Ta)
- Tungsten (W)
- Nickel (Ni)
- Manganese (Mn)
- Iridium (Ir)
- Cobalt (Co)
- Titanium (Ti)
- Niobium (Nb)
- Rhenium (Re)
- Ruthenium (Ru)
- Cadmium (Cd)
- Magnesium (Mg)
- Molybdenum (Mo)
- Rubidium (Rb)
- Zirconium (Zr)
- Bismuth (Bi)
- Graphite (C)
- Gold (Au)
- Tin (Sn)
- Silver (Ag)
- Palladium (Pd)
- Platinum (Pt)
- Tellurium (Te)
Technology Metals Market establishes the rules and creates the eligibility requirements for admission and the continuing obligations that apply thereafter for Issuers and Liquidity Providers through the Listing Authority. The rules and guidelines have been created based on best practice and professional guidance.
- Prospective Issuers must be incorporated undertakings and able to provide a current certificate of good standing
- Prospective Issuers must be metals industry participants, namely primary producers, recyclers, refiners, or bullion traders who produce, recycle or refine metals.
- Prospective Issuers must have dedicated personnel responsible for pricing, listing and managing balances acting in liaison with their chosen Custodian.
When a Prospective Issuer wishes to list a technology metal on the platform, TM2 has two primary roles:
- Prior to the listing: review and approve the Issuer's offering documentation and other official materials, and Pre-Listing preparation.
- Once satisfied that the Issuer complies with all relevant eligibility criteria, admit the metal to listing.
TM2 offers the following services:
- Accredited Listing Brokers
- Electronic trading
- Liquidity Provider Pipelines
The Path to Listing and Admission
- Submit Completed Application Forms
- Internal Compliance Controls Passed, 50% of Onboarding Fee due.
- Agree Terms, Schedule and Appoint Listing Broker
- Sign Issuer Agreement with TM2
- Prepare Institutional Prospectus and Sales Materials
- Finalize Product Structuring, Product Development and Recurring Volumes.
- Agree Custody and Logistics.
- Appoint Persons Responsible for Managing Trading.
- Formulate Marketing Strategy.
- Finalize Listing and Admission
- Submit Final metals product structure, including proposed platform issuing fees.
- Submit Final Institutional Prospectus, Marketing and any other documentation to TM2 for approval.
- Agree “Go Live” date.
- Pay 50% Balance of TM2 Onboarding Fee.
- Complete Product Training for trading and pricing teams.
- Put Back Office Support (Reporting, ERP, Accounting) in place.
- Transfer Metal to Custodian and Give Sampling/Assaying Expert Access to the Metal.
- Listing and Admission to the TM2 Platform
- Publish all supporting documentation and materials on TM2.
- Metals Listed, Admitted and Live.
- Pay Product Listing Fees.