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EMCODEX Announces Inauguration of First Global Emerging Commodities Decentralized Exchange (DEX)

indie
3 minutes

ZUG, SWITZERLAND, May 25, 2021 - (ACN Newswire via SEAPRWire.com) - EMCODEX.org today announced its anticipated launch as the first global emerging commodities Decentralized Exchange (DEX). The aim of EMCODEX is to democratize the commodities market using blockchain technology. There are only elite few-yet-giant global commodities trading firms dominating the commodities market. Some of the best-known deals are in oil and coal, agriculture, metals and diamonds.EMCODEX is investing time, energy and money into removing the current barriers imposed by the commodities market. These obstacles actively block producers of various new products. In contrast, in a decentralized market, technology enables investors to deal directly with each other instead of operating from within a centralized exchange. The "old" way of trading on the commodities market has well-entrenched middlemen forcing producers to lower their margins and charging exorbitant service fees. This applies whether the producer is trading an actual product, trading to secure a price or for the purpose of speculation.One of the goals of EMCODEX is for emerging commodities to thrive on its in-house EMCODEX standardizing list. It...

SeaPRwire

Buyout back on cards for palm oil giant IndoAgri

elean
1 minute

SINGAPORE - It is common market knowledge that commodity prices have soared over the past year. While the Bloomberg Commodities index is up around 70 per cent over the decade, agricultural or "soft" commodities have risen by even more over just the past two years. Please subscribe or log in to continue reading the full article. Get unlimited access to all stories at $0.99/month Latest headlines and exclusive stories In-depth analyses and award-winning multimedia content Get access to all with our no-contract promotional package at only $0.99/month for the first 3 months* Subscribe now *Terms and conditions apply.

ACN Newswire
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Commodities Intelligence Centre to groom Global Commodity Champions On the Back of RCEP

indie
4 minutes

SINGAPORE, Nov 24, 2020 - (ACN Newswire) - Commodities Intelligence Centre (CIC), a B2B e-trade platform for physical commodities, has announced its plans to groom one Global Commodity Champion from each participating country of the Regional Comprehensive Economic Partnership (RCEP). Since the start of year, CIC has reported more than 20% increases in customers joining the platform compared to the same period last year, and a surge in online transactions with over 4,000 customers searching for trading opportunities on the platform. CIC has since achieved a gross merchandise volume of US$13.2 billion (S$17.7 billion), with over 5,200 registered users covering markets, including Singapore, Malaysia, Indonesia, India and China, among other countries in Asia. CIC looks to develop more than ten Global Commodity Champions over the next three to five years, as it strives to uncover new trading opportunities and boost global trade facilitation on the back of RCEP.Peter Yu, Chief Executive Officer of Commodities Intelligence Centre, shared, "The coronavirus has radically reshaped the global supply chain, exposing the fragility of the industry. We believe that CIC is well-placed to empower c...

SeaPRwire
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Top Morgan Stanley commodities executives leave for WhatsApp breach: Sources

elean
3 minutes

NEW YORK (BLOOMBERG, REUTERS) - The two most senior commodities executives at Morgan Stanley are leaving after compliance breaches linked to the use of communications tools such as WhatsApp, according to two people familiar with the matter. Nancy King, global head of commodities, and Jay Rubenstein, head of commodities trading, are leaving, the people said, asking not to be named discussing internal matters. Morgan Stanley declined to comment. The bank is one of the biggest commodities dealers on Wall Street alongside Goldman Sachs Group, JPMorgan Chase & Co and Citigroup. The veteran executives' departures come after the bank discovered the use of unauthorized electronic means of communication, including the use of the WhatsApp messaging app. It didn't find any wrongdoing, but the use of those communication channels went against policy, the people said. Commodity trading brokers across the world commonly use messaging services including WhatsApp, WeChat and Intercontinental Exchange (ICE) chat to communicate with traders who put in orders and execute trades. However, Wall Street banks have clamped down on the use of WhatsApp and other instant messaging platforms in recent months. ...