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Screenshot of a breaking news alert e-mail from Q2 2017
INTL FCStone Inc. (NASDAQ:INTL) just announced that its London-based subsidiary, INTL FCStone Ltd, Precious Metals’ division is delivering unprecedented global market access to gold trading around the world with the launch of their premium-based, physical trading platform, PMXecute+.
PMXecute+ allows customers access to INTL’s entire global inventory and network of trusted supply partners. Customers who do not see offers meeting their specific requirements (regarding quantity, specification or location) can use the platform’s Request for Quote function, which notifies all relevant suppliers around the world.
Suppliers can anonymously create firm or indicative offers (premium, location, expiry date) on the platform for all customers to view and, if they like what they see, trade on, thus seamlessly securing gold at a premium and a location they want. The platform even allows for shipping to be added, if the customer requires.
To use the platform, the only KYC / on-boarding required is between the buyer and INTL, and between the seller and INTL, given that INTL will be principal to all transactions booked on the platform. Buyers and sellers do not need to exchange onboarding documentation with each other. The automated workflow and full audit trail creates efficient execution — including optimising freight cost and time.
We developed PMXecute+ to become the physical platform of choice for the global bullion market,” says Barry Canham, Global Head of Precious Metals. “We are simply automating our interaction with our customers — improving market access and efficiency — through one platform, one unparalleled network and one trusted partner.