Delivering innovation in agricultural derivative contracts to address new market risks
LONDON & CHICAGO, Feb. 17, 2016 /Weed Wire/ —GMEX Group today announced that it has entered into an agreement with Seed Commodities Exchange (Seed CX) based in Chicago. GMEX Technologies (GMEX Tech) will provide its sophisticated technological exchange trading system and market surveillance solutions. As part of the agreement GMEX Tech has also taken an option to acquire a 20% equity stake in Seed CX.
Seed CX will operate trading platforms for agricultural derivatives contracts, subject to regulatory approval from the U.S. Commodity Futures Trading Commission. Brian Liston, President and Co-founder at Seed commented, “Seed CX’s goal is to use derivative tools to cultivate financial security in emerging agricultural markets, with idiosyncratic risks. Seed’s focus is on providing innovative means to secure operational stability for hedgers and new trading opportunities for speculators.” Seed CX operates in areas where there have been recent regulatory shifts, which present the potential to innovate in new or obscure markets. Seed CX’s launch products include new weather derivatives and industrial hemp swaps, options and forwards.
“The agreement with Seed CX highlights our continued focus on innovative new products and emerging market development as well as growth through a unique sustainable partnership-driven model,” commented Hirander Misra, CEO and Co-Founder of GMEX Group, who will join the Seed CX Board as a Board Observer. He added, “Our relationship will provide Seed CX not only with world class exchange technology but also operations and business expertise.”
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About GMEX Technologies Limited
GMEX Technologies Limited (GMEX Tech) is a wholly-owned subsidiary of GMEX Group. GMEX Tech is provider of multi-asset exchange and post trade technology, which includes an FCA vetted high performance exchange trading system, through to a leading edge matching engine, market surveillance system, several front end trading platform options as well as clearing house and depository systems.
About GMEX Group
GMEX Group is a set of companies that offer sustainable and innovative solutions for the new era of global financial markets, encompassing:
- Operation of a venue for the arrangement of a Constant Maturity Future for Interest Rate Swaps
- Development of related new tradable market and product indices
- Creation and operation of low cost electronic exchanges/platforms in equities, debt, FX, derivatives and commodities in both developing and, in a targeted way, developed markets
- Interconnectivity of exchanges to each other creating a global network of liquidity
- Business development to enhance liquidity in partner exchange products
- Consultancy on exchange strategy, product development, clearing and regulation
GMEX Group stakeholders include Deutsche Borse AG, Societe Generale Corporate & Investment Banking and Forum Trading Holdings Limited through its investment vehicle.
For more information. visit www.gmex-group.com
or follow us on Twitter @GMEX_Group
About Seed Commodities Exchange (Seed CX)
Seed CX will operate trading platforms for agricultural derivatives contracts, subject to regulatory approval from the U.S. Commodity Futures Trading Commission. Seed CX’s goal is to use derivative tools to cultivate financial security in emerging agricultural markets, with idiosyncratic production risks. Seed’s focus is on providing innovative means to secure operational stability for hedgers and new trading opportunities for speculators. Seed CX operates in areas where there have been recent regulatory shifts, which present the potential to innovate in new or obscure markets..
Edward Woodford and Brian Liston founded Seed CX. Seed CX is backed by a consortium of Fin-Tech focused venture capital firms and strategic partners including trading firms and farming groups. Dr Wayne Marr, Ph.D. And Marc Vial sit on the Seed CX board as independent directors.
For more information, visit www.seedcx.com
or follow us on Twitter @SeedCX