WebsiteGear Logo Log In
New User? Sign Up
About | Contact | FAQ
  Home News Technology Internet Technology Friday, December 15, 2017 
Add Press Release News | News Feeds Feeds | Email This News Email


PanXchange Q4: Live Launch U.S. Proppant Market, Matt Jansen Joins Board
Friday, October 06, 2017

DENVER, Oct. 6, 2017 /PRNewswire/ -- PanXchange (PX) has opened the country's first ever exchange for physical proppant (frac sand). It is the only platform available to producers, E&P companies and service companies that aggregates spot and forward physical procurement and sales. Thus, it is the only source for real-time prices where true supply meets demand. On the PX system, members can also manage counterpart exposure and post bids and offers anonymously in real time.

Unlike prior market launches, PX launched sand with a consortium of over a dozen of the industry's leading producers and buyers financially committed for the first year. Current members, excluding service companies, represent approximately 30 percent of total U.S. sand production.

The platform launched with PanXchange's 2.0 software, which is faster, with more user-controlled optionality, price map functionality, and mobile phone access.

Also in Q4, Matt Jansen joined PanXchange's investor pool and Advisory Board. Matt was formerly the CEO of COFCO International ($17B revenue) and the Chief Risk Officer at Archer Daniels Midland (ADM $35B revenue). Previously, Matt held several senior executive roles at ADM overseeing trade divisions in oilseeds, grains, and ethanol in the U.S., Europe, and Brazil. Matt is an active advisor to PX as it focuses on global commercialization strategies.

Moreover, David Bradley, formerly with Deutsche Bank U.K., joins PanXchange as Chief Technical Officer. At Deutsche Bank, David was a Credit Risk Solutions Architect. Priorroles include Foreign Exchange IT Architect at HSBC UK and Exchange Connectivity (Development Manager & Architect) for Morgan Stanley UK.

PanXchange is a web-based OTC physical commodity trading platform. Designed by a veteran Cargill trader, the Denver-based software platform allows buyers and sellers to negotiate specific details of a trade, including the location and timing of delivery and the exact quantity and quality of the commodity -- all of it anonymously, in real time, with counterpart management and no burdensome costs of clearing and regulation. The company has been live in East Africa for two years, offering the negotiation and trade of more than 20 different agricultural commodities. In the fall of 2016, PanXchange went live in U.S. feed grains with more than 50 traders and doubled the member base within four months. Moreover, the data generated on the system offers an unprecedented amount of objective pricing data and metadata in real time. PanXchange is protected by two U.S. patents with four pending and was selected in 2016 as a Futures Industry Association Innovator. info@panxchange.com

Related Images

image1.jpg

image2.png

View original content with multimedia:http://www.prnewswire.com/news-releases/panxchange-q4-live-launch-us-proppant-market-matt-jansen-joins-board-300532368.html

SOURCE PanXchange, Inc.



Email This News Email | Submit To Slashdot Slashdot | Submit To Digg.com Digg | Submit To del.icio.us Del.icio.us | News Feeds Feeds

RELATED NEWS ARTICLES
Nav 4th Annual Loyalty360 Awards Seek to Recognize Excellence in Customer Loyalty | Dec 15, 2017
Nav Total Cryptocurrency Market Capitalization Continues to Break Records | Dec 15, 2017
Nav CreditEase Wealth Management Awarded 2017 Best Non-Bank Private Wealth Management Institution in China by The Asian Banker | Dec 15, 2017
Nav FM Broadcast Transmitter Market to Rise at Nearly 8.05% CAGR to 2021 | ReportsnReports | Dec 15, 2017
Nav Gartner Recognizes AutomationEdge as a Specialist RPA Software Provider in "Market Guide for Robotic Process Automation Software, 2017" Report | Dec 15, 2017
Nav 10 Million End Users Bolster Cybersecurity Defenses with PhishMe | Dec 15, 2017
Nav Tektronix Honored with Seven EDN Hot 100 Products of 2017 in Test & Measurement Category | Dec 15, 2017
Nav Leading business innovation and DT revolution, DTise empowers brands to build self-owned DT infrastructures | Dec 15, 2017
Nav Hines Supply Celebrates 125th Anniversary With History Book | Dec 15, 2017
Nav North Highland 2018 Beacon Report: Optimism Abounds Yet Industry Leaders Struggle with Preparedness for the Coming Year | Dec 15, 2017
NEWS SEARCH

FEATURED NEWS | POPULAR NEWS
Submit News | View More News View More News