Indicative Asset Criteria
Preliminary qualification focuses on bullion quality, verifiable custody, clear title and transaction authority before any platform, banking or underwriting review is progressed.
Minimum target holding of approximately USD 1 billion equivalent in qualifying gold bullion, subject to final review and acceptance.
Gold bullion should be hallmarked within the last five years, with a complete bar list, refinery details, serial numbers, fineness, weight and location.
Current Safekeeping Receipt (SKR) or equivalent custody confirmation from a reputable regulated bank or acceptable institutional custodian.
Preliminary Documentation
Documentation is reviewed on a controlled basis and remains subject to independent verification and final acceptance. Preliminary documentation allows Multistream to assess the ownership, custody, specification and transaction readiness of the bullion before any platform or banking review is initiated. Submission of documents does not constitute acceptance; all information remains subject to independent verification, compliance screening and counterparty approval.
Approximately 10 Months
40-Week Framework
Historical parameters communicated for comparable structures have included an indicative 70–75% LTV range and illustrative targets of up to 100% net per month to the client. These figures are provided solely as historical discussion parameters. They are not a quotation, forecast, commitment or guarantee; final terms and outcomes depend on the accepted asset, custody, market conditions, underwriting and definitive agreements.
Following successful qualification and independent verification, accepted bullion may be assessed for an asset-backed transaction structure based on the verified value, custody status and eligibility of the underlying holding. The indicative 40-week framework is progressed only under definitive contractual terms, with transaction mechanics, settlement arrangements and distribution schedules established during the acceptance process.
The bullion remains subject to ongoing custody, title and compliance requirements throughout the transaction. Any LTV, trading parameters, distributions or renewal provisions are determined by the final approved structure and executed agreements.
Asset profile, custody evidence and client information are submitted for preliminary screening.
SKR, title, hallmarking, custody and transaction authority are independently reviewed.
Accepted clients proceed to definitive documentation, banking instructions and conditions precedent.
Trade activity commences only after all required documentation and acceptance conditions are satisfied.
Any distributions follow the executed agreement and verified settlement mechanics.
Eligible Proceeds Recommercialisation Pathway
Following an eligible primary trade, all or part of qualifying USD proceeds may separately be considered for an optional post-trade recommercialisation pathway. The indicative entry level is USD 100 million cash and the stated term is five years, potentially renewable in further five-year increments. Any liquidity, withdrawal, distribution, trust or banking arrangements are governed solely by the definitive documentation and separate acceptance process.
This optional pathway does not form part of the initial bullion qualification or trade framework. It is considered only after eligible proceeds are available and requires a separate review, acceptance process and definitive agreement. Participation in the bullion program does not create or guarantee eligibility for any post-trade arrangement.
Verification Before Reliance
Any representation concerning trust protection, insurance, banking relationships, licensing or authorisation, tax treatment, capital protection or distribution frequency must be supported by current documentary evidence and independently assessed before a client relies upon it.
Participation is subject to compliance, suitability / eligibility assessment, counterparty acceptance, definitive legal documentation and the laws applicable to the client and transaction.
What Happens After Qualification?
A successful preliminary review does not itself constitute acceptance into a trade. The next stage is a controlled verification process designed to establish whether the bullion, custody arrangement and authorised principal are transaction-ready.
Bank or custodian evidence is independently reviewed through an acceptable verification channel.
Bar list, hallmark, fineness, ownership, location and absence of known encumbrances are assessed.
Principal, authority, source information and counterparties remain subject to compliance and final acceptance.