OverviewChemConnect Energizes Commodities Markets
As Member companies continue to increase use, year-to-date transaction volume exceeds $5 billion; ChemConnect announces enhanced commodities platform for buyers and sellers of chemicals and natural gas liquids
Houston, TX (September 23, 2002) - ChemConnect Inc., a leader in helping customers optimize their purchasing and sales processes for chemicals, plastics, and related products, today announced that, with year-to-date transaction volume on its commodity markets trading platforms exceeding 23 million metric tons or 250 million barrels, it is introducing the next generation electronic marketplace with a sweeping series of enhancements to deliver greater benefits through faster trades and access to broader audiences for buyers and sellers of products such as natural gas liquids (NGLs), aromatics, oxygenates, olefins and related products.
After acquiring CheMatch and Chalkboard earlier this year, ChemConnect recognized the value of consolidating the electronic marketplaces across the chemicals and feedstocks chain. In keeping with ChemConnect's commitment to continue expanding its offerings to meet Members' growing needs, ChemConnect will be launching the next generation commodity markets platform that goes beyond the features and functionality of the successful Chalkboard NGL marketplace. ChemConnect's enhanced commodity markets platform will include a bid/offer layout with price stacking showing market depth, real-time price and position updates, and single-click execution capability. Additionally, as a result of the increased liquidity expected from the real-time nature of the independent platform, establishment of dynamic price indices derived from transactions completed on the new platform will offer enhanced risk management opportunities.
"We now have over 250 active customers that have bought and sold over $5 billion of product so far this year - and as liquidity grows, so grow our offerings," said John Robinson, ChemConnect CEO. "As ChemConnect customers continue to move more and more business online, we also continue to listen to our customers and implement enhancements to our e-commerce tools that improve the profitability of their business."
Uniting 185 Chalkboard and 200 Commodity Exchange Member companies online, ChemConnect's new commodity markets platform will go live in October.
Chalkboard/Commodity Markets Platform Features
Additional features of the new commodity markets platform include:
- Sweeping of multiple positions on both sides of the market
- Personalized portfolio filters and multiple screen views
- Anonymous negotiation to preserve confidentiality
- Two-sided deal capability within the bid/offer screen
- Enhanced price modification features
- Web-based for easy system accessibility
- Templates for easier posting of Members' most common transactions
Members will participate in training sessions in the few weeks leading up to the live launch. Additionally, demonstrations and training will be available at the ChemConnect suite in the Genf room at the Dorint SchweizerHof during the EPCA in Berlin, September 28-October 1, 2002.
About ChemConnect
ChemConnect is a leader in helping customers optimize their purchasing and sales processes for chemicals, plastics, and related products through a unique combination of market information, industry expertise, e-commerce solutions, and an active network of trading partners. More than 7,500 Member companies in multiple industries around the world can use ChemConnect's highly efficient tools and services to streamline transactions and lower costs. Visit www.chemconnect.com for more information.
Note to Editors: ChemConnect is a registered trademark of ChemConnect, Inc. All other product, trademark, company or service names mentioned herein are the property of their respective owners.