Successful trading debut for NFX
Successful trading debut for NFX
The
inaugural Natural Fibre Exchange (NFX) trading event earlier
today attracted strong participation with 41 of 44 lots on
offer (93%) sold.
The NFX, launched earlier this month, is an innovative independent online trading platform for natural fibres, with an initial focus on New Zealand wool.
NFX shareholders Wools of New Zealand (WNZ) and Alliance Group are working with CRA International, a global leader in online trading platforms, as NFX Trading Manager.
Rosstan Mazey, WNZ Chief Executive and NFX spokesperson said the first trading event attracted a good cross section of New Zealand’s major wool buyers, while six sellers provided lots for sale. “It’s a new platform for wool buyers and sellers, but it’s intuitive and initial feedback has been very positive. We are excited about the potential for adding efficiency and value to the buying and selling process - we look forward to additional industry support as we progress.”
Brad Miller, CRA Vice President and Auctions & Competitive Bidding Practice Leader said the first live event had gone smoothly with bidders bidding actively round by round. “Similar to CRA’s other trading platforms for agricultural products including GlobalDairyTrade and CranberryAuction, NFX provides a trusted and transparent selling and buying marketplace.”
Full sale results for the 22 May NFX trading event can be found at: http://www.naturalfibreexchange.com/Results.aspx
Notes to
editors:
- NFX trading events will be held
fortnightly on Tuesdays at 2pm (NZ time)
-
For more information go to the NFX Information Site at
www.naturalfibreexchange.com
About the Natural
Fibre Exchange
Natural Fibre Exchange is an
online platform established to connect buyers and sellers,
providing trusted and transparent market-based reference
prices, as well as an efficient selling and buying mechanism
for wool and other natural fibre products sourced from New
Zealand and other supply markets longer term.
How
it works
All products in a trading event are on
offer simultaneously over multiple rounds of bidding
starting at 2:00pm New Zealand Time and continuing until
there is a round with no new bids. NFX is open to all
industry parties and service providers who meet the
requirements of the NFX Participation Agreement
to be a seller and/or a buyer. As a buyer you
also must have pre-approval from a seller to bid on that
seller’s products. For more information or to register go
to the NFX information site at
www.naturalfibreexchange.com.