🔁1. OTC (Over-the-Counter) Market
The OTC market is flexible and negotiation-driven. It doesn’t rely on real-time public order books.
🛒For Sellers (e.g., Farmers, Aggregators, Dealers)
- Negotiate directly with buyer via phone, WhatsApp, etc.
- Agree on:
- Commodity type, quantity, and grade
- Price per ton
- Payment terms
- Delivery terms and location
- Approach GCMX to document and register the transaction.
✅GCMX Role
- Reviews, registers, and issues contract notes
- Validates quality if needed
- Escrow support for secure transactions
- Ensures fair delivery and payment processes
🧍For Buyers
- Connect with sellers through network or brokers
- Negotiate and document the trade at GCMX or online OTC portal
- GCMX offers price advice, quality checks, and oversight
⚡2. Spot Market
The Spot Market is order-driven and based on real-time market prices.
🛒For Sellers
- List commodities on the GCMX Spot Trading Platform
- Include type, grade, quantity, price, and location
- Buyers can view and accept your listing
- Trade is executed upon match
🛍️For Buyers
- Browse real-time commodity listings on the platform
- Place a buy order or accept a seller’s listing
- Matching and clearing are automated by the system
- GCMX issues contract note and manages delivery
🔐Payment & Settlement
- Typically T+0 (instant) or T+2 (2 days)
- Escrow and bank-integrated options for security
🧾How to Trade as an Individual or Business
- Register with GCMX (Trader, Broker, Dealer, etc.)
- Submit KYC (ID, CAC, TIN, etc.)
- Choose broker (Spot) or trade directly (OTC)
- List or browse commodities
- Trade via OTC negotiation or Spot platform
- Settle payments, confirm delivery
- Receive contract note
💼Market Suitability Summary
| Market | Best For | Why |
|---|---|---|
| OTC | High-volume, custom deals | Flexible terms, negotiation-driven |
| Spot | Quick trades, price transparency | Real-time efficiency and automation |