Online marketplace ChemConnect launches new platform

17 October 2002 22:56  [Source: ICIS news]

HOUSTON (CNI)--Online chemicals marketplace ChemConnect said Thursday it has launched an improved Internet-based platform that will allow users to execute transactions faster and better manage risk.

Houston-based ChemConnect said in a statement that its "next generation electronic marketplace" incorporates "a sweeping series of enhancements" that enables faster trades and access to wider audiences in product categories such as natural gas liquids (NGLs), aromatics, oxygenates, olefins and related products.

The new trading platform, said the firm, includes an enhanced bid/offer layout "with price stacking showing market depth, real-time price and position updates, and single-click execution capability."

"Additionally, as a result of the increased liquidity expected from the real-time nature of the independent platform," said the company, "establishment of a dynamic price indices derived from transactions completed on the new platform will offer enhanced risk management opportunities."

ChemConnect said it now has more than 250 active customers that have traded more than $5bn (Euro5.1bn) so far this year.

CNI's parent company, Reed Elsevier, holds an equity stake in ChemConnect.

By: Joe Kamalick
+1 713 525 2653

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