M-EX runs two types of trades. Both follow the same three-period structure, but the direction is reversed. Here is how to tell them apart and when to use each one.
Listing
Seller posts, buyers compete
A seller has material ready to move and sets a reserve price. Registered buyers place bids during Period 3. The highest bid at close wins, provided it meets the reserve. Think of it as a forward auction for industrial metal.
Buyer RFQ
Buyer posts, sellers compete
A buyer needs a specific material and sets a ceiling price - the most they will pay. Registered sellers quote or bid downward during Period 3. The lowest bid at close wins, provided it is within the ceiling. It is a reverse auction run entirely in the buyer's favour.
Feature
Listing
Buyer RFQ
Who posts
Who creates and manages this trade on the platform.
Seller
Buyer
Pricing direction
Whether bids go up (competition to buy) or down (competition to supply).
Ascending - bids go up
Descending - bids go down
Hidden price reference
The threshold price set by the poster. Not visible to participants until Period 3 opens.
Reserve price - set by seller
Ceiling price - set by buyer
Period 1 - View & Entry
The registration window. Participants pay a view fee to see details and an entry fee to participate in bidding.
Buyers register
Sellers register
Period 2 - Negotiation
An optional one-on-one negotiation window before the open auction begins. One active quote at a time.
Offer window (optional)
Quote window (optional)
Period 3 - Live Auction
The open competitive bidding phase. All registered participants can place bids.
Forward auction - highest bid wins
Reverse auction - lowest bid wins
Partial quantity
Whether the poster will accept a deal on less than the full quantity listed.
Supported - seller's choice
Supported - buyer's choice
Payment terms
The payment arrangement agreed between buyer and seller at deal close.
Seller-specified
Buyer-specified
Geographic restriction
Optionally limit participation to sellers or buyers within a defined region or radius.
Supported
Supported
Identity revealed at
Contact details of both parties are exchanged only after a deal is confirmed.
Deal close
Deal close
Deal Confirmation
A formal PDF document issued to both parties at deal close, capturing all agreed terms.
Yes
Yes
Recurring
Auto-generate a new trade at a scheduled interval without re-entering all details.
-
Yes - buyer sets the schedule
Who pays listing / posting fee
A one-time platform fee charged when the trade is approved and goes live.
Seller
Buyer
Who pays view fee
Paid in Period 1 to unlock the full details of the listing or RFQ.
Buyer
Seller
Who pays entry fee
Paid in Period 1 to register as a participant and qualify for bidding.
Buyer
Seller
Who pays per-bid fee
A small fee charged on each bid placed during Period 3.
Buyer
Seller
Success fee
Charged to both parties at identity release when a deal is confirmed.
Both parties
Both parties