The Advisory and Development Team of NFEx Markets has announced plans for a new market for the trading of non-ferrous metals to be launched, in London, in the first quarter of 2018.
NFEx Markets, which will operate on a digital platform built by Autilla, is designed to expand the trading opportunities available to current and potential participants in the base market. Contracts and trade dates will match established physical industry practise.
Members of the Advisory and Development Team include Martin Abbott; Mike Greenacre – CEO, Autilla; Jim Coupland; Mark Bradley – NFEx Markets; Nigel Owens – NFEx Markets. Other members are expected to join the team shortly and the Board of Directors of NFEx Markets Ltd, will be drawn from this group.
“We anticipate NFEx Markets will increase cost-efficiency in the global base metals markets,” said Mark Bradley. “This new trading platform will not replace or disturb current trading models but will be complementary to them.”
“The new platform incorporates state-of-the-art matching and trading technology,” said Mike Greenacre. “Among other advantages, NFEx Markets is being built to enhance transparency and increase efficiency in the transaction of large orders.”
Trades on NFEx Markets will be cleared; negotiations on clearing arrangements are in process. Base-metals market participants with established clearing arrangements will automatically be able to clear NFEx Markets business.
NFEx Markets is fully funded. There will, however, be opportunities for new investors as the business develops.