CheMatch.com Private Auction Platform Surpasses Previous Record.Business Editors HOUSTON--(BUSINESS WIRE)--Dec. 1, 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 Notional Value The total value of a leveraged position's assets. This term is commonly used in the options, futures and currency markets because in them a very little amount of invested money can control a large position (have a large consequence for the trader). 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. CheMatch.com CheMatch.com -- The Global Trading Network is a business-to-business, Internet-based marketplace for purchasers and sellers of bulk commodity chemicals, plastics and fuel products. The marketplace incorporates a real-time, interactive trading exchange where members can trade 24 hours a day, seven days a week. Strategic and financial investors include Battery Ventures, Bayer AG Bayer AG German chemical and pharmaceutical company. Founded in 1863 by Friedrich Bayer (1825–1880), it now operates plants in more than 30 countries. Bayer has originated scores of pharmaceuticals, chemicals, and synthetic materials; it was the first developer and (NYSE NYSE See: New York Stock Exchange :BAYZY)(FSE FSE 1. feline spongiform encephalopathy. 2. focal symmetrical encephalomalacia. :BAYG.F), E.I. DuPont de Nemours and Company (NYSE:GE), Methanex (Nasdaq:MEOH MEOH Methyl Alcohol )(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :MX), Millennium Chemicals (NYSE:MCH See Intel Hub Architecture. ), H. Muehlstein & Co. Inc., Reed Elsevier, Sprout Group, Stolt-Nielsen S.A. (Nasdaq:STLTF)(Nasdaq:STLBY) (Oslo Stock Exchange Oslo Stock Exchange An exchange founded in 1819 and trading stocks, bonds, and stock options that is considered the options market of Norway. :SNIB snib tr.v. snibbed, snib·bing, snibs Chiefly British To latch (a door or window): "[The] window is snibbed on the inner side" ) and TownsendTarnell. Headquartered in Houston, CheMatch.com has international offices in Brussels, Hong Kong, Manchester (United Kingdom), Sao Paulo, Singapore, Tokyo and Zurich. For more information about CheMatch.com, visit our Web site at www.chematch.com |
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