Perfect Channel delivers cattle trading platform AgriClear
London, November 23, 2015 – Perfect Channel, the leading provider of auction and trading technology solutions, recently completed the implementation of an end-to-end commodity trading platform for TMX Group.
AgriClear is an online cloud-based platform designed to provide U.S. and Canadian cattle buyers and sellers with an efficient, cost-effective transaction and payment service. AgriClear operations benefit from the financial support and clearing expertise of NGX, a wholly-owned subsidiary of TMX Group that offers trading and clearing services for natural gas, crude oil and electricity contracts.
The AgriClear platform launched officially on the 16th June 2015 and was made available for trading on the 24th June.
Prior to the launch of AgriClear, agricultural commodities have typically been traded through physical exchanges and auctions, and these have their own set of inefficiencies and limitations, such as a narrow audience of bidders and the need for a discrete time-restricted event.
AgriClear’s goal was to provide greater cattle buying and selling efficiency, at the same time as facilitating payment assurance and deal certainty. To achieve this, they turned to Perfect Channel who developed an online exchange that provides a new transparency and increased competitive tension to the process, resulting in market-based pricing for both parties.
In announcing the launch Phil Bird CEO of Perfect Channel said, “I am delighted to see the first use of our marketplace solution in the agricultural commodities area. Our marketplace solutions have enabled market-based pricing and liquidity in a range of other industries and the agricultural commodities sector is ripe for modernisation. Our exchange product provides competitive tension allowing both parties in each transaction to achieve optimised pricing, as well as providing a new layer of transparency to the process. Perfect Channel’s technology will help AgriClear to clarify market pricing and increase the speed and frequency of trades.”
Through the new platform, vendors are able to advertise livestock for sale, whilst buyers can use sophisticated filtering and searching capabilities to find and purchase their desired commodities. This has opened the agricultural commodity market to a much wider audience, with positive benefits for both buyers and sellers
About Perfect Channel
Perfect Channel are experts in marketplace design and intelligent marketplace technology. We partner with our customers to build dynamic global marketplaces to reach new customers, optimise pricing and liquidity and deliver real-time trading insight. Solutions include enterprise-grade auction and trading platform Perfect Exchange and intelligent analytics platform Perfect Insight. Trusted by regulated customers, Perfect Channel enables and optimises several billions in transaction value every year.
About TMX Group
TMX Group’s key subsidiaries operate cash and derivative markets and clearinghouses for multiple asset classes including equities, fixed income and energy. Toronto Stock Exchange, TSX Venture Exchange, TSX Alpha Exchange, The Canadian Depository for Securities, Montréal Exchange, Canadian Derivatives Clearing Corporation, NGX, BOX Options Exchange, Shorcan, Shorcan Energy Brokers, AgriClear and other TMX Group companies provide listing markets, trading markets, clearing facilities, depository services, data products and other services to the global financial community. TMX Group is headquartered in Toronto and operates offices across Canada (Montréal, Calgary and Vancouver), in key U.S. markets (New York, Houston, Boston and Chicago) as well as in London, Beijing, Singapore and Sydney.
To find out more please contact Ivan O’Toole at Perfect Channel on 0800 033 7815 or firstname.lastname@example.org