WHAT IS GLX?
GLX is an independent, member-based online trading platform for physical cargoes of LNG. The GLX platform allows buyers and sellers of LNG to connect and trade directly in a real time, secure, online environment.
WHAT SERVICES DOES GLX OFFER?
As a member of GLX your company will be able to:
- Initiate tenders for the sale or purchase of physical LNG cargoes, inviting only those members your company wishes to trade with, on the terms you wish to trade.
- Participate anonymously in competitive tenders for the sale or purchase of LNG cargoes.
- View and access market depth and liquidity in real time.
WHO CAN BECOME A MEMBER OF GLX?
GLX membership is open to companies that buy or sell physical cargoes of LNG. There is no cost to join or trade on the GLX platform prior to 1 April 2018, nor is there any obligation beyond that date.
GLX’s membership is growing and includes companies from Asia (including Japan, China and Korea), Australia and Europe, all of whom buy and sell physical cargoes of LNG.
HOW DO I JOIN?
Membership is open to companies or partnerships that wish to buy and sell physical cargoes of LNG.
The key steps of membership are:
Step 1: Complete the membership application form
Step 2: GLX membership team in Singapore will process your application
Step 3: GLX membership team will forward a signed electronic user agreement for countersignature
Once the electronic user agreement has been signed by your company you will be an official member of GLX and able to participate in trades on the platform or initiate your own trades.
There is no charge to join or trade on the GLX platform before 1 April 2018.
IS GLX A CLEARING HOUSE?
No, GLX is not a clearing house. When an auction or tender results in a closed trade a contract is formed directly between the seller and the buyer; GLX is not party to the transaction.
HOW IS GLX REGULATED?
GLX will operate its online LNG platform in Singapore, based on the duration of contracts that can currently be traded via GLX’s LNG platform, GLX has received clearance with International Enterprise Board Singapore (IE Singapore) that it does not require a licence under the Commodity Trading Act (Chapter 48A of Singapore) (CTA). GLX has also received confirmation from IE Singapore that it is exempt from licensing as a spot commodity broker.