ChemConnect's Commodities Floor Closes Another Record Month.Business Editors/High-Tech Writers HOUSTON--(BUSINESS WIRE)--May 9, 2001 With More Than 500,000 Metric Tons of Commodity Chemicals Moved in April, Volume Reaches Unprecedented and Unmatched Levels ChemConnect Inc., the company that operates the World Chemical Exchange offering buyers and sellers of chemicals and plastics a dynamic online marketplace supported by strategic e-commerce services, today announced that volume trading on its Commodities Floor reached new record highs in April 2001. More than 500,000 metric tons of standard, high-volume petrochemical petrochemical, any one of a large group of chemicals derived from a component of petroleum or natural gas. The cracking processes for manufacturing gasoline produce vast quantities of gaseous hydrocarbons. products were moved in April 2001, with an average transaction value of $1.3 million year-to-date. ChemConnect's Commodities Floor is where more than 450 pre-qualified Members from the world's largest oil and petrochemical producers, consumers, traders, and distributors buy and sell products, quickly and efficiently. Since January 2001, the Commodities Floor has moved more than 1.9 million metric tons of commodity chemicals. "Faced with volatile market conditions, our Members are recognizing and realizing, the benefits of an online, independent global marketplace," said Stan Klocek, ChemConnect Vice President, Commodities Floor Operations. "Our April results are unprecedented and unmatched. With a real-time view of the market, detailed trend information, and access to our brokerage services, our Members are getting market prices faster and more efficiently." About ChemConnect ChemConnect, Inc. (www.chemconnect.com) operates the World Chemical Exchange, offering buyers and sellers of chemicals and plastics a dynamic, independent Internet marketplace See vertical portal and Web hub. supported by strategic e-commerce services. World Chemical Exchange Members have a choice of sales and procurement The fancy word for "purchasing." The procurement department within an organization manages all the major purchases. solutions that meet specific business requirements, and also benefit from ChemConnect's unmatched industry and e-commerce expertise. ChemConnect's online trading Online Trading Making trades via the Internet. Notes: The use of online trading increased dramatically in the mid to late 1990's with the advent of high-speed computers and Internet connections. Stocks, bonds, options, futures, and currencies can all be traded online. tools include the Exchange Floor, Corporate Trading Rooms The notion of "trading room" (sometimes used as a synonym of "trading floor", see below) is widely used in financial markets to refer to the office space where market activities are concentrated in investment banks or brokerage houses. , and the Commodities Floor. Founded in 1995, ChemConnect is headquartered in San Francisco, California “San Francisco” redirects here. For other uses, see San Francisco (disambiguation). The City and County of San Francisco (EN IPA: [sænfrənˈsɪskoʊ] and has offices in Houston, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Paris, Philadelphia, Frankfurt, Rotterdam, and Singapore. 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. |
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