Being a Client
Everything a client needs to know about interacting with BMX ExchangeNet — how you onboard, how you trade, and how trades are cleared, invoiced and settled.
Who is a client?
A client is anyone who buys or sells commodities on BMX — a farmer or cooperative selling grain, a processor or trader sourcing supply, or an institutional investor. You can participate on your own account once onboarded, or trade through a licensed BMX broker who acts on your behalf.
The onboarding journey
One compliance journey, whether a broker introduces you or you apply yourself.
1 · Choose how you join
You can be introduced by a licensed BMX broker who onboards you into ExchangeNet on your behalf, or you can register yourself through the online self-service application. Either route follows exactly the same compliance journey.
2 · Submit your KYC application
Provide your details as an individual or a legal entity — identity, contact and business profile — together with the required documents. Producers, traders and institutional clients each have a tailored document checklist.
3 · Automated risk screening
Your application is screened automatically (PEP/sanctions, high-risk factors) and assigned a risk rating and due-diligence level. Higher-risk profiles are routed to enhanced due diligence.
4 · Compliance review & approval
The BMX compliance team reviews the screened application and approves your membership. Broker-introduced and self-service applications land in the same review queue, fully audit-tracked.
5 · Get trading access
On approval you receive platform access — the trading dashboard, market data, the mobile app and, for farmers, USSD. You can now place orders directly or instruct your broker.
How you trade
Two ways to participate — pick what suits you.
Through a broker
- Your broker executes on your behalf and can onboard you into ExchangeNet directly from their Broker Module.
- Broker commission is negotiated privately between you and your broker — it is off-exchange and never appears on your BMX invoices.
- Ideal if you prefer guided execution or trade occasionally.
Directly on the platform
- Place buy and sell orders yourself on the trading dashboard or the BMX mobile app.
- Trade in auctions, the continuous order book, or the ATS bid/offer marketplace — including offers on warehouse receipts.
- ExchangeBot, the in-platform assistant, guides you through processes and answers market questions.
Clearing, settlement & your invoices
Every trade is guaranteed by the BMX clearing house on a delivery-versus-payment basis, settling on a T+2 cycle.
Trade is executed
Your order is matched, novated to the clearing house, and a dealing slip confirms the trade.
Trade invoice
A first invoice covers the commodity value — the amount you pay (or receive) for the goods, settled via CSDB.
Fee invoice
A second, separate invoice covers exchange fees (and VAT where applicable). Basic foodstuffs are zero-rated for VAT.
You always receive two clearly separated invoices — one for the commodity trade and one for exchange fees — so costs are fully transparent. Any broker commission is agreed privately with your broker and is not billed by BMX.
What it costs
Exchange fees are set transparently by BMX and can vary by commodity and transaction type. They are published fee schedules — not hidden charges — and appear on your separate fee invoice. Warehouse storage and financing fees, where they apply, are billed by the respective service providers. Your broker's commission, if you use one, is agreed directly with them.
Ready to become a client?
Start your onboarding online, or ask a licensed BMX broker to bring you onto the platform. Our team is here to help either way.