CheMatch.com Private Auction Platform Surpasses Previous Record

04-Dec-2000

CheMatch.com - The Global Trading Network, a leading Internet-based marketplace and information resource for buying and selling bulk commodity chemicals, plastics and fuel products, announced that during the month of November more than 95,000 metric tons of product was transacted through the CheMatch.com Private Auction Platform, which represents a 49% increase over the previous monthly record.

Since inception of the Private Auction Platform this summer, more than 175,000 metric tons have been transacted. This represents a cumulative notional value of approximately $30 million worth of completed transactions. Quarter to date the auction platform has traded over 160,000 metric tons of product with a notional value in excess of $23 million.

The average notional value of completed transactions through the auction platform is more than $800,000 per transaction. Over 50 companies have been participants in the auction process and a variety of chemicals, polymers and fuel product categories have been auctioned through the auction platform.

“Companies within the industry have started to realize the value CheMatch.com can provide through the use of our Private Auction Platform. As an example, one of our customers has increased revenue by over $1 million, while substantially reducing the time that was required when compared to traditional channels,” said CheMatch.com’s Vice President of Auctions Ed Moody. “We attribute our success to the unique auction platform we have created that combines dynamic pricing with real-time pricing feedback and unique flexibility, which allows the platform to be tailored to the individual needs of each user.”

In addition to auctions, CheMatch.com operates a commodity chemicals, polymers and fuel products exchange on which more than 1 million metric tons of product has been transacted. CheMatch.com’s Global Trading Network includes both the exchange and auction platforms. Since inception the Global Trading Network has transacted over 1.2 million metric tons of product, representing a notional value that exceeds $400 million. Quarter to date volumes have already surpassed the record setting 3rd quarter milestone.

https://www.chemeurope.com/en/news/434/chematch-com-private-auction-platform-surpasses-previous-record.html