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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Seed Commodities Exchange to launch in partnership with GMEX - Delivering innovation in agricultural derivative contracts to address new market risks
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