OverviewChemConnect Expands Commodities Floor Offering as Trading Tops $1 Billion
Company introduces new product pits and swap trading opportunities as commodity buyers and sellers trade more than 2.5 million metric tons of product this year
San Francisco, CA (June 26, 2001) – ChemConnect Inc., the company that provides the only end-to-end e-commerce solution for buyers and sellers of chemicals and plastics worldwide, today released new figures showing that year-to-date transactional value in its Commodities Floor trading pits has topped $1 billion. At the same time, the company announced the addition of gasoline blendstock and PVC pits and introduced new swap opportunities for bulk commodities trading.
Offering pre-qualified Members opportunities to trade standard, high-volume commodity products, ChemConnect's Commodities Floor now has 16 trading pits. More than 2.5 million metric tons of product have been traded so far this year, with average transaction values of $1.3 million. The new gasoline blendstocks complement the MTBE trading pit, which has experienced a particularly high level of activity in the past few months. The PVC pit heralds the arrival of the first plastics pit on the Commodities Floor, and was introduced as a result of Members' feedback.
Another Commodities Floor enhancement is the introduction of online swap trading capabilities. Now, producers, consumers, traders, and distributors of commodity chemicals and plastics can use the immediacy and ease of online opportunities to swap physical cargos of product, based on delivery time or geographical constraints. This practice, traditionally completed by phone and fax communications, can now be done online, either by Members themselves, or through the services of ChemConnect's Universal Chemical Brokerage.
"We've topped the billion dollar transactional value mark in commodities trading, and we're determined to continue to expand these solutions, along with the full range of our ‘Marketplace Plus' offerings," said John Robinson, ChemConnect CEO. "Thanks to our recent merger with Envera, we are the unmatched go-to solution for online global buying and selling opportunities combined with end-to-end connectivity and collaboration across the supply chain."
In addition to standard, high-volume petrochemical products, including benzene, toluene, mixed xylenes, para-xylene, methanol, styrene, propylene, ethylene, MTBE, and naphtha, ChemConnect's Commodities Floor now allows pre-qualified Members to trade gasoline blendstocks (alkylate, ethanol, natural gasoline, raffinate, and reformate) and PVC.
For more information, please contact:
Bob Osmond
UpStart Communications
(510) 457-3111
bosmond@upstart.com
Liz Youngs
UpStart Communications
(843) 881-5751
lyoungs@upstart.com
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.