INTL FCStone’s Precious Metals Division’s web-based physical gold trading platform, PMXecute+ has traded nearly 10 tonnes of gold, representing close to USD400 million in value, since its launch in late February 2017.
Barry Canham, global head of the Precious Metals Division, says: “We are proud of the significant trading volumes that we have achieved with PMXecute+ in the short time since its launch earlier this year. I look forward to providing additional updates to the market in terms of our volumes over the coming months.”
The Company’s focus since launch has been to ensure wider liquidity on the platform, progressively increasing the number of trading counterparties. With over 1500 locations and shipping routes available and a diversified gold inventory, the platform can be used as a strategic tool to reach a bigger market and identify new opportunities through just one relationship. Efforts will continue over the next few months to onboard more users and enrich the PMXecute+ value proposition.
The platform allows customers access to INTL’s entire global inventory and network of trusted supply partners — helping customers find the best offers 24 hours a day, seven days a week. 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.
