Clearing & Settlement

Central Counterparty

TM2 operates as the Central Counterparty (CCP) to all trades, delivering financial and operational efficiencies to market participants.

The TM2 network is a worldwide collection of servers hosted and maintained by the verified parties (vaults, issuers, banks,) that validate the centrally cleared transactions and exchanges of information and data on the TM2. The distributed ledger is a private and permissioned database that is shared, replicated, and synchronized among the trusted members of the TM2, ensuring that the ledger is updated only with Centrally Cleared transactions that have been network-verified by approved parties. The distributed nature is a primary security feature of the network and makes it reliable and safe.

Clearing & Settlement of Trades

All trades are settled directly with TM2 through its independent and wholly owned proprietary financial and trading engine, Minfinium™.

Conditions can vary, due to certain issuer or custodian procedures, but under most circumstances the following clearing & settlement conditions will prevail. Please refer to each individual metal product for exact and precise, up-to-date information.

• Trade settlement and the corresponding transfer of title occurs immediately upon trade execution. T+0 Instant
• Purchased technology metals can be sold on the TM2 immediately
• Physical Delivery of metal is T+10
• Approved Listing and Broker Members that offer OTC services will support all trade orders over the daily or overnight limits
• Redemption via physical delivery is T+5 after redemption notice received