Registration (KYC / AML) – Approval Process & Log-In
When registering with MetalXChain AG as a new Platform user, we determine
for all new customers the following 3 key principles:
• Establishing company identity
• Understanding the nature of the customer’s activities
• Assessing money laundering risks associated with the company
Upon successful completion of the registration and signing the MXC General Terms and Conditions,
the customer receives Log-In Details and can start using MXC services.
Transform your physical inventory into a digital warehouse receipt (Token). It starts with “Tokenizing”,
by sending a request to the warehouse with a copy to MXC, to issue tokens.
The warehouse will independently validate to MXC that the requested metal is available
in the warehouse, and MXC will validate that the uploaded analysis corresponds to the metal to be tokenized. Upon confirmation from
the customer and the warehouse, MXC will issue the Tokens.
Your tokens will be visible now in your “Portfolio”.
MXC customer can anonymously sell and buy MXC Tokens on the Trading Platform. The platform offers real-time
pricing derived from customer’s offers, bids and last trades. Users can see Level II information, which will indicate
how many tokens are on the offers and bids. Total outstanding tokens, circulating between all users, are also visible
on the Trading Platform.
MXC Platform will be open for trading during working days from
08:00 – 18:00 Switzerland Time (CET).
The trading platform offers all usual order types including GTC’s. Users can set limits for their own safety including “fat finger” errors.
All trades on the MXC Platform are based on Incoterms “In Warehouse”, Duty Unpaid.
The Payment Terms are Cash Before Release (CBR).
Trade Matching / Post Trade
Conditional & Unconditional Release
The MXC platform matches the trades between seller and buyer. The transacted tokens will no longer be visible as
available on the platform once a trade has been completed. The MXC platform will generate to each party the
following documents: To Seller – Sales Confirmation – from MXC / To Buyer – Purchase Confirmation & Invoice from
MXC. The warehouse will simultaneously send a Conditional Release to the buyer indicating a
“Transaction Reference” for the purchased tokens.
MXC contracts are Cash Settled and as such, MXC grants the buyer 1 business day to affect the payment for the
purchased tokens. Payment is to MXC. MXC will pay to the seller the funds it has received from the buyer, within 2
business days and the full amount of the sold tokens. Upon Sellers receipt of full payment, and Finalization of the
Trade by MXC, the warehouse will send an unconditional release to the buyer for the purchased tokens. The buyer
can now see his tokens in his portfolio (position). The seller will no longer see these tokens in his portfolio.
In the “Portfolio” users have a full overview of their positions, i.e. token holdings, overall and specific market value
(to MXC prices) and daily changes including overall portfolio performance.
Users can trade their tokens at any time. Likewise, users can cancel their tokens at any time to take physical metal.
Tokens represent the holding of physical metal. At any time, the Platform users can convert the digital warehouse
receipt (tokens) back to today’s warehouse receipt. This can be achieved by simply sending a request to MXC to
cancel the tokens.
MXC will cancel the requested tokens which will no longer circulate in the market and the warehouse will
simultaneously issue the usual storage confirmation to the user, hereby confirming that the customer can take
physical delivery from the warehouse.