TM2 Press Release
LONDON, June 21, 2021 -- Technology Metals Market (TM2), the global technology metals marketplace, announced today it is live with Nasdaq technology to power its trading platform as well as distribute market data through its proprietary data channels. With global reach, TM2 provides access to a trading venue that enables institutional investors to trade a new asset class of high-value technology metals critical to global technology industries. TM2 leverages Nasdaq's cloud-deployed matching technology designed for robust and scalable operations offering investors a real-time price feed including detailed end-of-day trading statistics.
The metals traded on TM2 are 100% physically backed metals, allowing investors have direct title to the underlying physical metal. Through TM2's expanding custodian network with over 100 locations worldwide, metals can be listed, traded, or redeemed directly. In addition to expanding the types of asset classes available to investors, TM2 brings transparency to scarce and illiquid metals while institutionalizing trading and pricing on the global technology metals market.
"After a successful launch to select clients, we are very excited to open our doors to all investors and metals counterparties," said Petur Georgesson, Founder and CEO of TM2. "TM2 possesses the tech and accumulated experience to build a profitable marketplace for tech metals trading, as well as the assets to become a leading global market and trading group."
"As a technology and data provider to the capital markets and beyond, we are pleased to support TM2 in their journey to build a leading technology metals market," said Andy Green, Vice President and Head of EMEA, Market Technology, Nasdaq. "By leveraging Nasdaq's market technology and data capabilities TM2 can bolster its platform and flexibly scale its marketplace as it evolves."
The product is issued by Walters & Koch with the following specifications: sponge (powder), with min. 99.95% purity, is now available at 128 USD / unit (one gram). The metal can be held on medium or long-term or redeemed phys...