Legal & Regulatory

Technology Metals Market Ltd (“TM2”) is a company incorporated in the United Kingdom and governed by British law.

In the United Kingdom , the sale and purchase of investment-grade physical precious metal is not in itself regulated by the Financial Services Authority (FSA), although some of the participants may be regulated to the extent that they trade in metals derivative products or they need to be FSA regulated by virtue of other aspects of their business.

No “derivative products” (as defined under United Kingdom financial services law) are offered or traded through the TM2 and there is no capability for short-selling through the TM2 Primary market.

In addition, there is no legal requirement under United Kingdom law for persons or organisations buying or selling physical precious metals on TM2, or giving advice regarding using the service of TM2 to buy or sell physical precious metal, to hold an FSA license.

We regularly work with clients to ensure that any regulatory concerns they may have are addressed before we allow them or their clients to trade through our system.

Exchange Rules and Governance

We have a detailed quality assurance program and have all information regarding the operation of the TM2, our vaulting and delivery system, custodian arrangements, precious metal contracts and other details available at all times. Our Membership Agreements, provide the contractual terms governing the participation on our Market by members and other market participants. Issuers that have been approved to list technology metals on the TM2, provide independent benchmark pricing for the purchase and sale of allocated technology metals.

Compliance

TM2 maintains a comprehensive KYC, KYB and AML program to ensure the mitigation and reporting of all money-laundering and terrorism-financing activities and has implemented a comprehensive customer due diligence program to identify, verify and monitor its market participants in accordance with our strict compliance guidelines. TM2 regularly monitors changes in regulation and policy impacting our compliance obligations.