Denver Colorado June 30th, 2016
PanXchange (PX), a web-based software for the negotiation and trade of physical commodities opened its pilot launch to select US feed ingredient traders today. Fifteen companies are already members for a total of 35 registered traders. Two bids and offers were negotiated and matched within the first hour of trading.
The purpose of the program is to fine-tune the features to best meet the needs of feed ingredient traders as well as to provide market participants with a window to become familiar with the platform before bids and offers are live and legally binding if matched.
Julie Lerner, PanXchange’s Founder and CEO, explains, “We are excited to launch this platform with over a dozen of the country’s most active traders, producers and feed lots. The reception we’ve experienced in these early days has confirmed industry interest in PX’s ability to provide instant price discovery and market access across the country and beyond.”
The PX Feed Ingredients platform will initially focus on both domestic and export DDGS markets, wheat middlings and soy hulls. Ms. Lerner predicts rapid expansion beginning in its first few months of live trading. “We launched PXAfrica in August 2015 for commercial market participants in Kenya to trade maize and wheat. However,” she expounds, “within weeks, our customer base expanded into Uganda and Tanzania. At the request of members in those three countries, we now also offer the trading of millet, sorghum, and many types of dried beans regionally and to and from the coastal ports.”
PanXchange will run the pilot launch through July and anticipates live launch in September. Interested physical market participants should contact firstname.lastname@example.org for registration and further information.
About PanXchange, Inc.
PanXchange, Inc. provides a patented, web-based negotiation and trading platform specializing in regional and international physical commodities. The system addresses the complexities of commodity sales and procurement, while also facilitating price discovery (transparency) and liquidity. Built by a former Cargill physicals trader, it offers real-time negotiations of multiple fields, granular counterparty management, pricing mechanisms to avoid unwanted influencing of market values, and all of it anonymously in real-time. Combined, these features create a trading platform that obviates the need for clearing services, allows for an efficient transfer of both product and risk and offers an unprecedented opportunity for objective real-time and historical cash market values.