PanXchange Launches U.S. Feed Ingredients Pilot
Published June 27, 2016 in Feedstuffs Magazine.
PanXchange (PX), web-based software for the negotiation and trade of physical commodities, opened June 27 its pilot launch to select U.S. feed ingredient traders.
The purpose of the program is that of fine-tuning the features to best meet the needs of feed ingredient traders as well as to provide market participants with a window to become familiar with the platform before bids and offers are live and legally binding, if matched.
Julie Lerner, PX founder and chief executive officer, said, “We are excited to launch this platform with over a dozen of the country’s most active traders, producers and feedlots. The reception we’ve experienced in these early days has confirmed industry interest in PX’s ability to provide instant price discovery and market access across the country and beyond.”
The PX Feed Ingredients platform will initially focus on both domestic and export markets for dried distillers grains with solubles, wheat middlings and soy hulls. Lerner said she expects rapid expansion in its first few months of live trading.
“We launched PXAfrica in August 2015 for commercial market participants in Kenya to trade maize and wheat. However, within weeks, our customer base expanded into Uganda and Tanzania. At the request of members in those three countries, we now also offer the trading of millet, sorghum and many types of dried beans regionally and to and from the coastal ports,” Lerner said.
PX will run the pilot launch through July and anticipates live launch in September