GCX BlogPhysical metals trading

Section

Exchange and deals

How the exchange works: matching, deposits, fees, deal security and dispute resolution.

6 articles

  • Deposit on a trade: how the security works

    Both sides pay the deposit on a trade on the exchange; it is held and returned in full after the documents are accepted. An analysis of the cases when the deposit is lost.

    • Exchange and deals
    • 5 min read

  • Exchange fee: what a trade costs

    GCX metal exchange tariffs: a fee of 0.50% from each side, no less than $0 and no more than $500, charged in USD at the Bank of Russia fixing.

    • Exchange and deals
    • 5 min read

  • How a trade works on the GCX exchange: steps and deadlines

    Exchange fee per trade 0.50% from each side, 24 hours for confirmation and 5 days for documents. A step-by-step breakdown of a trade on GCX and the deposit of both parties.

    • Exchange and deals
    • 5 min read

  • What a commodity exchange is and how it works

    A commodity exchange: types of venues, what is traded, how trading is organised and how an exchange differs from a marketplace. The mechanics of order matching and collateral.

    • Exchange and deals
    • 11 min read

  • Order book, orders and spread: how to read the market

    The order book: how to read orders, the spread and market depth, how an active order differs from a passive one and how a counter-order leads to a trade.

    • Exchange and deals
    • 5 min read

  • Exchange safety: risks and how to close them

    What the GCX exchange guarantees in a trade and what stays with the parties: deposits on both sides, anonymity, deadlines, counterparty checks and documents.

    • Exchange and deals
    • 7 min read

What we write about

Ten sections. Each one is where a question actually comes up in a deal or in working with metal, not where a keyword happens to sit.