Ag commodities trading nonprofit launches
PanXchange, a physical commodities OTC marketplace, has launched a nonprofit organisation aiming to modernise the physical commodity sector.
The Global Commodity Technology Association (GCTA) will support stakeholders along the supply chain, with a focus on enhancing efficiency and standardisation of internal trading processes and post-trade execution.
Commodities pro David Lehman will serve as the organisation’s first managing director.
“Commodity trading remains a manual industry that is nearly completely reliant on paper processes for contracting, invoicing and payments,” Lehman said in a release. “To remedy this, we need stakeholders from across the supply chain to collaborate on priorities and solutions to bring the physical trade into the digital age.”