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Posted: February 3, 2010
First dedicated commodity exchange for nanotechnologies establishes global accreditation and validation framework
(Nanowerk News) INSCX™ - Integrated Nano-Science Commodity Exchange, a patent-pending project to develop a global commodity exchange platform for trade in nano objects, materials and commodities, has formalised an agreement with AssuredNano™ [SHE] to co-ordinate the global accreditation of supply onto the market platform which is scheduled to launch in the UK early 2011.
AssuredNano™ is the premier Safety, Health and Environment (SHE) accreditation scheme for organisations producing nanomaterials, nano-enabled products and users of nanotechnology in general. It promotes the responsible and proactive application of nanomaterial SHE good current practice within the nanomaterials and nanotechnology community
The development of INSCX™, an exchange dedicated to facilitate the accredited trade of nano objects and commodities, represents a definitive move toward self-regulation within nanotechnologies. The development is being co-ordinated by 10-9 World Exchange Limited, operating company for INSCX™, and NanoCentral®.
NanoCentral is based at CPI within the Wilton Centre. Founded in 2006 and supported by the UK Government regional development agency One NorthEast. Nanocentral’s remit is the beneficial and profitable commercialisation of nanomaterials, operating an alliance of leading organisations capable of providing access to a broad range of leading edge technologies, equipment and services.
10-9 World Exchange Limited based in Staffordshire combines input from leading academics in nanotechnology and experienced capital market professionals, both UK and USA based. The company derives additional technical assistance from Nano Capital Markets/NTP Limited, brokers in accredited nano objects, materials and commodities and members of the UK Nanotechnology Stakeholder Forum, the government advisory panel on nanotechnologies.
INSCX™ will offer global producers and end-users trade and support facilities designed to encourage compliant trade. Exchange rules and procedures set to be unveiled later this year, in the Exchange Charter and by-laws will provide comprehensive rules for trading. Regulations will be adopted and made compulsory on members and participants, mirroring those firmly established in mainstream capital and commodity markets.
The exchange ECN [Electronic Communications Network] is being provided by Comdaq Limited (www.comdaq.com) and will function with trade routed through appointed specialist’s Nano Capital Markets/NTP Limited (www.nanocapitalmarkets.com). “Comdaq provide INSCX™ with a wealth of experience in the development of exchange standard ECN’s within alternative commodity markets,” according to an exchange statement. The exchange website is currently under construction expected to launch late 2010 to coincide with the rollout of the trading platform first quarter 2011.
INSCX™, will provide the world’s first dedicated [ECN] exchange for nanotechnologies. “The accreditation of supply, meets with our ability to deliver transparency in pricing and compliance in trade whilst safeguarding intellectual property, a key concern expressed to date by many producers”. As regards membership, the exchange statement maintained; “INSCX™ will invite participation from producers, buyers and downstream users of engineered nanomaterials to meet standards in supply and validation known as INSCX™ Standard of Accreditation [ISA] in addition to courting global investment and securities houses to act as brokers in these alternative commodities”.
Commenting on the appointment of AssuredNano™ as global accreditation co¬ordinator and on the appointment of a representative of NanoCentral™ to the exchange Board of Governors, a spokesperson for the exchange pointed to the significance of the development.
“INSCX welcome the collaboration with NanoCentral™, who have played a longstanding role in the ethical commercialisation of nanotechnologies, and are privileged to have secured the services of AssuredNano™ to co-ordinate global accreditation of supply onto the market. The standards of accredited supply, price transparency, market surveillance and clearly defined trade procedures are basic mechanisms employed as a rule in any rational marketplace, not least in the industrial commodity and investment markets. Nanotechnology cannot afford to be any different”.
INSCX™, is designed to provide the “hub to the wheel of nanotechnologies” where the interests of business can co-exist with those of state governments, regional authorities, specialist agencies, research bodies, and consumer groups to deliver ethical and commercial cohesion across nanotechnologies.
In addition to developing a standard in accreditation using AssuredNano, INSCX™ have opened lines of contact with global insurance markets as a means to identify a point of departure to enable insurers to both quantify and segregate risks associated with nanotechnologies.
Accredited manufacturers achieving the INSCX™ Standard of Accreditation [ISA] will undoubtedly be viewed more favourably by insurance underwriters seeking to determine premium levels.
“The science of nanotechnology needs to follow the example of other commercial innovations throughout industrial history. The metal and stock exchanges which began almost two centuries ago remain the collaborations between business, commercial user, capital investment and the public today they originally set out to be”, the exchange spokesperson added.
Nanotechnology can and must learn from the evolution of these markets and adopt the same ethos of self-regulation derived from an appreciation of economic and ethical logic".
“The market in engineered nanomaterials needs to seize the initiative posed by current challenges and not expect government to hold all the answers. Self-regulation in collaboration with national, regional and global organisations via the medium of a dedicated exchange link issues surrounding ethics to that of a clear economic nature. Without an organised market, can we expect a technology to advance commercially in isolation from the global investment community, or a major industrial conglomerate to have confidence in commodities that have no visible pricing or regulatory structure? These are economic arguments posed by capital. On the environmental side, can we feel assured blindly endorsing use of commodities which have no co¬ordinated standards of compliance?"
Delivering a Global Platform for Accredited Trade
INSCX™, will deliver the world’s first rule-bound member exchange dedicated to specialist nano-commodities trading.” Initially based in the United Kingdom, the exchange has set in motion a process to rollout globally across major financial centres.
Financial centres in the USA, Far East and Russia are earmarked. “The exchange will engage in due course with authorities in the USA, Far East and Russia to determine the best way to structure rollout of global presence.”
Registration with INSCX™
Registration to supply or purchase product, and/or become member brokers approved to operate through the exchange are to be assessed and processed through registering in the first instance with the exchange direct.
A Preliminary Registration Questionnaire can be obtained via e-mail from: [email protected] or through contacting the technical advisors to the exchange, NanoCapitalMarkets at [email protected]
Completed PRQ forms should be returned to the exchange inclusive of the nominal processing fee.
Once registered with the exchange the applicant/s will be directed to the appropriate department whether to process a membership application or to apply to commence the independent accreditation and validation process co-ordinated by AssuredNano™.