Elementum Metals Securities Limited is the Irish-domiciled issuer of this physically-backed range of Exchange Traded Commodities (ETCs). The ETCs are designed to track the spot price of metals, less applicable fees, that are critical in the transition away from the use of fossil fuels.
The Arranger of the ETC programme is NTree International, whose team has extensive experience in the development of commodity-related investment solutions. The team has an extensive network of contacts in the mining, commodity trading, and metal storage and vaulting sectors. Metal to back the ETCs is sourced directly from mining companies or commodity trading houses, and is held in secure, bonded warehouses owned by Access World, the programme’s Metal Custodian.
The first ETC in the institutional series provides exposure to Copper. Each Copper ETC is backed with that meets LME Quality standards, and is available in LME standard lot sizes (25 tonnes). The Copper ETC is listed on the Vienna Stock Exchange (Wiener Boerse). It is available to trade daily exclusively in the primary market. There is no secondary market trading.
Metal to back the ETCs is sourced from a Metal Counterparty, which has the legal obligation to sell metal and buy back metal at the industry-recognised benchmark price. In the case of Copper, the benchmark is the London Metal Exchange (LME) Cash Settlement Price, which is established during the LME’s second ring at approximately 12.35 p.m. London time.
The Elementum Metals Securities programme works with leading service providers serving the ETF / ETC industry. These include Matheson, the programme’s Legal Adviser, and Waystone Corporate Services (IE) Limited serves, which serves as the Trustee.