DENVER, CO--(Marketwired - July 11, 2016) - U.S. Democratic presidential candidate Hillary Clinton visited with the team from PanXchange, Inc., a web-based negotiation and trading software for physical commodity markets a day after the company launches its first US trading market.
PanXchange' Founder and CEO, Julie Lerner, explained that the meeting was more substantive than she anticipated. "I was expecting a quick meet and greet, but was pleasantly surprised at how pointed her questions were. It was clear that she was familiar with the work we're doing." She continues, "She asked about the inroads we've been making in East African grain and beans markets and our launch in US Feed Ingredients. We then showed her the live trading screens and discussed our plans for growth." From there, they discussed the benefits of the transparency that the platform yields in terms of food security and potential market oversight.
Subsequent to the discussion, Secretary Clinton made public remarks about her tech and innovation agenda. The following is an excerpt from that speech:
I know just a little bit about commodities -- and their trading, their buying, their selling -- both futures and the actual commodities themselves. And what you are doing, Julie, is just transformational…this kind of effort is opening up markets, creating more transparency which will benefit so many of the people who are actually doing the hard work of producing food and trying to get it to market, and create a better life for themselves, their families, and their communities. So, I'm thrilled by that.
The PanXchange team was thrilled by the endorsement as it coincided with the pilot launch of its US feed grains (feed ingredients) market. Ms. Lerner concludes, "We started strong with 15 key industry players and quickly added a handful more. It was a good week."
PanXchange, Inc. provides a patented, web-based negotiation and trading platform specializing in regional and international physical commodities. The system addresses the complexities of commodity sales and procurement, while also facilitating price discovery (transparency) and liquidity. Built by a former Cargill physicals trader, it offers real-time negotiations of multiple fields, granular counterparty management, pricing mechanisms to avoid unwanted influencing of market values, and all of it anonymously in real-time. Combined, these features create a trading platform that obviates the need for clearing services, allows for an efficient transfer of both product and risk and offers an unprecedented opportunity for objective real-time and historical cash market values.