Automated Debt Secondary Market Terms and Conditions
Ethex operate an Automated Secondary Market for debt products, which operates as a Bulletin Board enabling members to buy and sell securities previously offered through the Ethex website from and to other members.
The Ethex Automated Debt Secondary Market service is only available to investors that become members of our Website and who accept both our platform Terms and Conditions as well as our Investor T&Cs.
Ensuring appropriate expressions of interest
If you’re looking to buy securities on the Ethex Automated Debt Secondary Market Bulletin Board, we will first make sure that you have fully understood the terms and conditions of the investment and have also considered if the investment is appropriate for you. We will do this before you can make any offers for securities via the Bulletin Board. You should ensure you have read any updates that have been made public by the company issuing the investment.
Publication of posts on the Bulletin Board
Ethex reserves the right to refuse to publish posts on the Bulletin Board. Ethex also reserves the right to remove posts from the Bulletin Board at any time at our absolute discretion.
Ethex performs checks before making posts live on the Bulletin Board or before sending responses on to the offeror. For example, Ethex will ensure that an offer meets the minimum holding required by a business (or that a seller is not left with a holding below the minimum required by a business).
We will notify you by email if we remove or do not accept your post.
The name and contact details of the buyer and seller will remain anonymous. We will at all times keep your name and contact details confidential, according to our Privacy Policy.
Securities can be listed for sale at a price equal to the issue price (par value) or for a price above or below the issue price but not exceeding the interest rate offered on the bond (coupon) e.g. a bond issued for £100 with a 5% interest rate could be offered for a minimum price of £95 and a maximum price of £105.
Posts to sell securities will remain active for 90 days. Any posts that do not receive acceptable offers during this period will expire. You will be notified by email once the post has expired.
A seller may receive multiple offers for any securities listed for sale, and the decision about which offer to accept, if any, is the sole responsibility of the seller.
Your commitment to proceed
A prospective purchaser must have sufficient funds on their platform account to cover the consideration of the transaction and any admin fee payable to Ethex prior to making an offer for securities via the Bulletin Board.
A buyer may make an offer for all or part of any parcel of securities listed for sale on the Bulletin Board.
Any offer for securities can be withdrawn by the offering party at any time until accepted by the selling party.
A seller has 3 days to accept any offer they receive after which time the offer will expire. The offeror will be notified by email should their offer expire, and will have the chance to submit a new offer through the bulletin board.
Buyers and sellers must confirm the details of their trade between themselves before Ethex can facilitate any transaction.
Once a transaction has been agreed between you and your counterparty, i.e. the party who posted a bid accepts an offer, we will be notified in order that we can complete the transaction. At this point, we require you to go through with the sale or purchase and respond in a timely manner. If you do not go through with the transaction, we reserve the right to cancel your account and to cease to provide you with any Ethex services.
Ethex charges an administration fee of £20 to both the buyer and seller for any transaction facilitated via the Bulletin Board. The £20 fee charged to the seller will be deducted from the purchase price with the net proceeds credited to the seller’s platform account.
Completing the trade
We will arrange for transactions to be completed in the order in which we receive them.
Once we have received the details of your agreed trade, we will re-confirm to you the full details of that trade, and its cost including any stamp duty and fees. You should contact us immediately if any of the details are incorrect.
We shall arrange for the payment monies to be transferred from the purchasing member to the selling member’s Ethex account and for the fees and taxes set out to be paid. Upon settlement, we shall arrange for the transaction to be completed and update the Issuer’s investment register (acting as the issuer’s registrar) and update the records on the Website.
A certificate for the purchase will be made available within the buyers account, and in cases of a partial sale the old certificate of the seller will be cancelled and a new balance certificate produced.
We have no obligation to provide the Bulletin Board service to you and may withdraw it at any time, so we shall not be required to provide you with notice of amendments we make to these Terms and Conditions. We will always post the current version on our Website so you can view them when you next log in. By using the Bulletin Board service, you agree to be bound by the terms currently in force at the time of the transaction. You should never rely on being able to sell your investments on the Bulletin Board and should always be prepared to hold your investments for the full term.
1. Investor disclaimers
1.1 Investments offered on the Ethex website are not readily realisable, which means that they may be difficult to sell and you may get back less than you originally invested. Investments are not covered by the Financial Services Compensation Scheme (FSCS) and returns are not guaranteed. If you are in any doubt, you should contact an Independent Financial Adviser.
1.2 Any business plans and financial projections posted on this website are posted only for the personal use of registered investors. Such documents do not purport to contain all the information that a prospective investor may require. All such information is confidential and by gaining access to such information you agree to keep it confidential at all times.
1.3 By using this website you acknowledge that a decision to invest is your decision and that no responsibility for the consequences of that decision is accepted by Ethex or by any of its directors, employees, consultants or other investors.
1.4 By investing through this website you acknowledge that you have read and understood these Automated Secondary Market Terms and Conditions, the Website Terms of Use, the Investor Terms and Conditions, the Privacy Policy and the Risk Warning Notice.
2. General Website Terms & Disclaimers
2.1 Content on this website is provided for information only without any warranty, express or implied, that the content is accurate, current or complete, fit for a particular purpose or free from any computer viruses or defects. We will not be liable for any loss or damage caused by a virus or denial of service that may infect your computer hardware or programs, data or other proprietary material due to your use of this website and/or your downloading of any material posted on it (whether belonging to Ethex or not).
2.2 Commentary by Ethex and other material posted on this website is not intended to amount to advice by Ethex or by any of its directors, agents, employees or other investors. We are not liable or responsible for any reliance placed on such materials by you or anyone who you may inform of any of its contents.
2.3 Ethex will not be liable for any damages of any kind resulting from the use of or inability to use this website or its content. No guarantee is given that this website will always be available 24/7.
2.4 This website may contain links to other websites. We do not approve, endorse or accept liability for the content of any third party websites which may be accessed via, or are linked to, this website. The existence of a link to another website is not an authorisation by Ethex to you to access content or material from that other website.
If you have any questions about these Automated Debt Secondary Market Terms and Conditions, or wish to contact us for any other reason, you can contact us by email to: help@ethex.org.uk
Ethex operate an Automated Secondary Market for debt products, which operates as a Bulletin Board enabling members to buy and sell securities previously offered through the Ethex website from and to other members.
The Ethex Automated Debt Secondary Market service is only available to investors that become members of our Website and who accept both our platform Terms and Conditions as well as our Investor T&Cs.
Ensuring appropriate expressions of interest
If you’re looking to buy securities on the Ethex Automated Debt Secondary Market Bulletin Board, we will first make sure that you have fully understood the terms and conditions of the investment and have also considered if the investment is appropriate for you. We will do this before you can make any offers for securities via the Bulletin Board. You should ensure you have read any updates that have been made public by the company issuing the investment.
Publication of posts on the Bulletin Board
Ethex reserves the right to refuse to publish posts on the Bulletin Board. Ethex also reserves the right to remove posts from the Bulletin Board at any time at our absolute discretion.
Ethex performs checks before making posts live on the Bulletin Board or before sending responses on to the offeror. For example, Ethex will ensure that an offer meets the minimum holding required by a business (or that a seller is not left with a holding below the minimum required by a business).
We will notify you by email if we remove or do not accept your post.
The name and contact details of the buyer and seller will remain anonymous. We will at all times keep your name and contact details confidential, according to our Privacy Policy.
Securities can be listed for sale at a price equal to the issue price (par value) or for a price above or below the issue price but not exceeding the interest rate offered on the bond (coupon) e.g. a bond issued for £100 with a 5% interest rate could be offered for a minimum price of £95 and a maximum price of £105.
Posts to sell securities will remain active for 90 days. Any posts that do not receive acceptable offers during this period will expire. You will be notified by email once the post has expired.
A seller may receive multiple offers for any securities listed for sale, and the decision about which offer to accept, if any, is the sole responsibility of the seller.
Your commitment to proceed
A prospective purchaser must have sufficient funds on their platform account to cover the consideration of the transaction and any admin fee payable to Ethex prior to making an offer for securities via the Bulletin Board.
A buyer may make an offer for all or part of any parcel of securities listed for sale on the Bulletin Board.
Any offer for securities can be withdrawn by the offering party at any time until accepted by the selling party.
A seller has 3 days to accept any offer they receive after which time the offer will expire. The offeror will be notified by email should their offer expire, and will have the chance to submit a new offer through the bulletin board.
Buyers and sellers must confirm the details of their trade between themselves before Ethex can facilitate any transaction.
Once a transaction has been agreed between you and your counterparty, i.e. the party who posted a bid accepts an offer, we will be notified in order that we can complete the transaction. At this point, we require you to go through with the sale or purchase and respond in a timely manner. If you do not go through with the transaction, we reserve the right to cancel your account and to cease to provide you with any Ethex services.
Ethex charges an administration fee of £20 to both the buyer and seller for any transaction facilitated via the Bulletin Board. The £20 fee charged to the seller will be deducted from the purchase price with the net proceeds credited to the seller’s platform account.
Completing the trade
We will arrange for transactions to be completed in the order in which we receive them.
Once we have received the details of your agreed trade, we will re-confirm to you the full details of that trade, and its cost including any stamp duty and fees. You should contact us immediately if any of the details are incorrect.
We shall arrange for the payment monies to be transferred from the purchasing member to the selling member’s Ethex account and for the fees and taxes set out to be paid. Upon settlement, we shall arrange for the transaction to be completed and update the Issuer’s investment register (acting as the issuer’s registrar) and update the records on the Website.
A certificate for the purchase will be made available within the buyers account, and in cases of a partial sale the old certificate of the seller will be cancelled and a new balance certificate produced.
We have no obligation to provide the Bulletin Board service to you and may withdraw it at any time, so we shall not be required to provide you with notice of amendments we make to these Terms and Conditions. We will always post the current version on our Website so you can view them when you next log in. By using the Bulletin Board service, you agree to be bound by the terms currently in force at the time of the transaction. You should never rely on being able to sell your investments on the Bulletin Board and should always be prepared to hold your investments for the full term.
1. Investor disclaimers
1.1 Investments offered on the Ethex website are not readily realisable, which means that they may be difficult to sell and you may get back less than you originally invested. Investments are not covered by the Financial Services Compensation Scheme (FSCS) and returns are not guaranteed. If you are in any doubt, you should contact an Independent Financial Adviser.
1.2 Any business plans and financial projections posted on this website are posted only for the personal use of registered investors. Such documents do not purport to contain all the information that a prospective investor may require. All such information is confidential and by gaining access to such information you agree to keep it confidential at all times.
1.3 By using this website you acknowledge that a decision to invest is your decision and that no responsibility for the consequences of that decision is accepted by Ethex or by any of its directors, employees, consultants or other investors.
1.4 By investing through this website you acknowledge that you have read and understood these Automated Secondary Market Terms and Conditions, the Website Terms of Use, the Investor Terms and Conditions, the Privacy Policy and the Risk Warning Notice.
2. General Website Terms & Disclaimers
2.1 Content on this website is provided for information only without any warranty, express or implied, that the content is accurate, current or complete, fit for a particular purpose or free from any computer viruses or defects. We will not be liable for any loss or damage caused by a virus or denial of service that may infect your computer hardware or programs, data or other proprietary material due to your use of this website and/or your downloading of any material posted on it (whether belonging to Ethex or not).
2.2 Commentary by Ethex and other material posted on this website is not intended to amount to advice by Ethex or by any of its directors, agents, employees or other investors. We are not liable or responsible for any reliance placed on such materials by you or anyone who you may inform of any of its contents.
2.3 Ethex will not be liable for any damages of any kind resulting from the use of or inability to use this website or its content. No guarantee is given that this website will always be available 24/7.
2.4 This website may contain links to other websites. We do not approve, endorse or accept liability for the content of any third party websites which may be accessed via, or are linked to, this website. The existence of a link to another website is not an authorisation by Ethex to you to access content or material from that other website.
If you have any questions about these Automated Debt Secondary Market Terms and Conditions, or wish to contact us for any other reason, you can contact us by email to: help@ethex.org.uk
