Precious Metal trading & warehousing
Global Markets offering includes the sale, storage, management and delivery of the following precious metals:
- Gold – XAU
- Silver – XAG
- Platinum – XPT
- Palladium – XPD
The physical offering is inclusive of both unallocated and allocated accounts. Unallocated accounts are typically used to build positions which can be later transferred to physical allocated accounts.Unallocated Account
Clients can purchase unallocated precious metals through HEFFX which can be held by Global Markets on behalf of the client.
Credit balances on the account do not entitle the creditor to specific bullion bars but are backed by the general stock of the bullion dealer with whom the HEFFX account is held. The client in this instance is an unsecured creditor.
HEFFX account, on behalf of the client, can take physical delivery of the account’s credit balance and this is achieved by the bullion dealer “allocating” the equivalent bullion product. Market convention is that bullion may be allocated on the day it is called for and made available for collection within 48 hours.
Such accounts are held by HEFFX on behalf of clients on whom balances of uniquely identifiable bars of metal are maintained. They are allocated and physically segregated from other metals in the vault.
Clients’ holdings will be identified in a weight list of bars showing the unique bar number, gross weight, the assay of fineness of each bar and its fine weight. Allocated accounts can be held in various vaults around the world.
HEFFX has the ability to deliver precious metal and hence to title the precious metal to client-owned accounts.
HEFFX can facilitate the transportation process; however clients may also pick up the goods via the use of an approved logistics company.
Vaulting & Transportation
HEFFX has strategic relationships with a number of vaulting facilities worldwide (used for Allocated Accounts).
Key examples include:
UAE DMCC – The DMCC Gold Vault is the largest and most secure vault in the UAE. It is strategically located within the Almas Tower. Brinks Global Services is responsible for the management of the day-to-day operations of the vault
Hong Kong Malca Amit – Malca Amit’s facility is Hong Kong’s largest gold storage facility. The facility is located on the ground floor of a building within the international airport compound and has capacity for 1,000 metric tons. Malca Amit is responsible for the management of the vault.
For transportation from allocated accounts to client owned facilities:
- All metal transportation is handled by international market leading logistics providers
- HEFFX has key relations with international logistics providers such as Brinks and Via Mat
- HEFFX can assist in the setting up of accounts with Brinks and Via Mat in order to facilitate simple title transfer within nominated facilities