All bullion traded on the MetalDesk trading platform is stored on an Allocated and Pooled basis, with individual holdings allocated through a Holding Identification Number (HIN) system.
You will receive title to the bullion you have purchased at the time the trade confirmation is generated. Once the trade has been executed, your holdings will be visible in the ‘Holdings’ sub-section of the ‘Reports’ tab in MetalDesk.
When you place an order through MetalDesk, the funds will be withdrawn from your available cash balance as the time of the order confirmation.
If you have placed a limit order into the market, your funds will transition from your available cash balance into your ‘Reserved Funds’. The funds will remain here until the open limit order is executed or cancelled. If the order is executed, the funds will be instantly transferred to the purchasing party. If the order is cancelled, the funds will be returned to your cash balance.
If you have placed a ‘Market Order’ in MetalDesk, your cash balance will reduce at the time of order confirmation and your holdings will increase. You receive title to the bullion you have purchased at the time the trade confirmation is generated.
When you sell your holdings through the MetalDesk platform the consideration for the trade will appear in your MetalDesk Cash balance immediately.
The amount you receive will be equal to the value of the metal sold less the trade execution fee.
When you select a product from the list at the left the chart will update. Next to the Buy Sell columns to the left, you will see the word Watchlist with an eye logo. Click this and the favored product will be added to the Watchlist and displayed on either the left or the right.
If you desire to remove a product from the watchlist, firstly click on the product in the watchlist and once again the chart will update. Next to the Buy Sell icons, click on the word Watching and it will be removed from your watchlist.
‘Bullion Vault Status’ appears on the trade confirmation. It will display Deposited or To Be Deposited. The former is already in the vault as at time of trading. The latter means that the bullion will be physically located in the applicable vault by the delivery date indicated on the confirmation note.
The delivery date is the date the bullion will be delivered to the trading hub and securely stored in the vault.
When a trade is made, MetalDesk will automatically generate a Trade Confirmation including information such as Trade Date, Trade Value, any applicable fees and other details associated with the trade.
The Trade Confirmation will also detail the delivery information – e.g. the bullion delivery status (‘Not yet deposited’ or ‘Deposited’ and when the bullion will be in the vault if it’s ‘not yet deposited’
When a limit order is placed you can also choose to trade at a particular price that you are willing to pay. First select the quantity the press plus or minus sign to raise or lower the price by the fixed amount.
A market order is an order which is placed into the market for execution at the current market price. The quantity can be set on the order ticket using either the plus and minus buttons or by typing the desired quantity into the input box.
Trading hub selection gives you the flexibility to have your bullion stored in the city of your choice should you choose to take delivery at a future date in that city.
In the settings section you have the choice of AUD or USD. When AUD is selected, you will have a choice of the 2 major Australian cities (Sydney, Brisbane). When USD is selected, you will have the choice of 7 Global cities; Sydney, Singapore, Hong Kong, Dubai, Zurich, London, New York.
The prices that are quoted in MetalDesk will then be displayed in either AUD or USD.
Holdings are only shown in the currency that they were purchased in.
The trading hub or vault can be found by clicking the sorting tab at the top of the product list on either side of the screen. This will reveal the vaults and whether you want to see only one or all metals in the product list.
Bullion Capital is able to provide extremely competitive pricing on all of its products by allowing its Market Makers and Liquidity Providers the ability to amalgamate orders over a 2-week period and deposit larger quantities into the vaults at one time.
Bullion Capital operates on a 2-week trade cycle. The trade cycle starts on the Friday and ends on the Thursday, two weeks later. The following trade cycles starts on the Friday, and the pattern is repeated.
Following the end of a trade cycle, Liquidity providers have until the following Friday to meet their bullion delivery obligations by depositing bullion into the Bullion Capital Vault Network.
Clients are able to place either Market Orders or Limit Orders. These orders are described in the ‘What is a Market Order?’ and ‘What is a Limit Order?’ questions.
Orders can be placed by first selecting the desired product and vault location. The order ticket window will appear when either the Buy or Sell button is clicked. The default order type is a Market Order.
If the Buy (green) or Sell (red) price is selected from the market depth, the order ticket will still appear, but the default order type will be a Limit Order.
MetalDesk has a column on either side of the ‘Trade’ dashboard. These product lists can display any of the following product lists. These lists can be filtered using the ‘Sorting’ dropdowns at the top of both columns.
The lists will only show products and trading hubs that trade in the currency selected (see ‘How do I change my MetalDesk platform’s market and currency?’ for more information).
You can select a product to trade by clicking the product of interest in the either of the lists. The center panel will update with the pricing data and chart relevant to the selected product.
Allocated storage is the arrangement whereby physical bullion is owned outright by the customer, with Bullion Capital securely storing it on that customer’s behalf as custodian. Legal title to the metal is held by the client; it does not appear on the balance sheet of either Bullion Capital or the vault provider. This is considered to be one of the safest forms of bullion ownership.
A range of physical gold, silver and platinum bars and coins are traded in USD and AUD. The complete product list for both markets can be found on our website under the ‘Products’ page and in is available under resources.
|100g Swiss Bar||99.99%||Backed by 100 gram (3.215 fine troy ounces) gold cast bar, of minimum fineness 999.9, and bearing a serial number and identifying stamp of an Approved Refiner, where the Refinery Location is within Switzerland.|
|10oz Swiss Bar||99.99%||Backed by 10oz gold minted bar bearing a serial number and identifying stamp of an approved Swiss refiner|
|1kg Gold Bar||99.99%||Backed by 1kg (32.148 fine troy ounces) gold cast bar bearing a serial number and identifying stamp of an approved refiner.|
|10kg Wholesale Gold||99.99%||Backed by 10x1kg (32.148 fine troy ounces) gold cast bars bearing a serial numbers and identifying stamp of an approved refiner.|
|1kg Bar||99.90%||Backed by 1kg silver cast bars bearing serial number and identifying stamp of an approved refiner.|
|100oz Bar||99.90%||Backed by 100oz silver minted bars bearing serial number and identifying stamp of an approved refiner.|
|25,000 oz Wholesale Silver||99.9%||Backed by 25x100oz silver minted bars bearing serial number and identifying stamp of an approved refiner|
|1kg Bar||99.95%||Backed by platinum cast bars bearing a serial number and identifying stamp of an approved refiner.|