Custody
Physical Metals Custody
- The custodian is responsible for safekeeping physical metals backing the digital metals investments.
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Member’s metal is segregated and identified.
- With the BRD for example- in a weight list of bottles of rhodium sponge showing the unique bottle seal number, batch number, gross and net weights and the assay or fineness of each bottle. Other product specifications could vary.
- Custodial partners hold ultimate beneficiary information (via synchronized and distributed metals ownership ledger copies on their servers) and are last line providers of security and identity verification.
- Audited Positions available at any time.
- End of Day (EOD) files sent in daily.
Custody Agreements
The TM2 concludes Custody Agreements with custodians suitable for each specific issuer and metal product. Custodial partners hold ultimate beneficiary information (via synchronized and distributed metals ownership ledger copies on their servers) and are last line providers of security and identity verification.
Custody and Administration Fee
- All Members pay a custodial and administration fee
- The fee is the specific percent of all digital metal amounts in the Member wallet
- The fee is calculated on a daily basis based on the number of digital metals the Member holds. Fees per different digital metal could vary
- Every month, the Member is notified about the payment of the custodial and administration fee on the TM2 website and in the e-wallet
- Member has 10 days to pay the fee
- If Member does not pay the fee in 10 days, the TM2 blocks the user wallet
- The Custody and Administration Fee details can be found on the tm2.market website
Insurance
All technology metals are 100% insured with like for like insurance.
Audit
The official appointed auditor will do physical audits of all TM2 metals positions on a quarterly basis. The verified digital to physical metals position is published on the TM2 website every day.
Custodial Partners
Custodians provide safekeeping receipts for the physical metals they hold.. They are appointed independently of the issuer and available to the platform to safe-keep metals for the issuer. The TM2 does not own or operate warehouses, nor does it own the material they contain. It simply authorises custodians to store TM2-registered metals on behalf of issuers, and issue digital metals through the TM2 platform.