PanXchange Celebrates Anniversary of Frac Sand Launch
October 2018 Marks Many Milestones for the Company
CHICAGO, IL, October 17, 2018 — This month, PanXchange (PX), a Denver-based OTC physical commodity exchange and a market structure solutions provider, marks its one year anniversary since going live in the physical frac sand market.
As a web-based platform for the negotiation and trade of physical commodities, PanXchange offers instant price discovery and market access for increased operating efficiency and profit opportunities for commercial commodity firms. PanXchange launched frac sand in October 2017, and its client base presently represents 45 percent of all sand traded (on and offline).
- Summer 2017: PanXchange starts building out capabilities for frac sand.
- October 2017: PanXchange launches in frac sand.
- December 2017: PanXchange issues the industry’s first weekly benchmark price for frac sand.
- August 2018: PanXchange begins selling its weekly market reports and benchmark data.
Charlie Stephens, PanXchange’s Vice President of Market Development, discovered the opportunity for the company last year. He states, “It’s incredible how quickly this market is evolving. When we first looked at it, buyers and sellers were only concerned about the surety of physical deal flow — price didn’t matter. Yet 18 months later, we have a vibrant benchmark price that the industry relies on for its near-term negotiations and long-term planning.”
In addition to frac sand, the company also recently celebrated the three year anniversary of PX Africa. PanXchange launched in East Africa in August 2015, and now has over 30 different types of grains, beans and oilseeds available for negotiation and over 120 market participants, representing the majority of the region’s physical market trade. The company maintains offices in Nairobi, Kenya, and Kampala, Uganda.
PanXchange is continuing expansion around the world, furthering its vision that strong underlying markets lead to robust derivative markets. CEO and founder Julie Lerner explains, “Our software solves points of pain for physical commodity traders. In many cases, this also leads to the establishment of benchmark prices and financial derivatives where our client base can hedge price risk.” PanXchange has begun taking steps to open its fifth global office in Singapore, providing the company a presence in one of the top financials hubs in the APAC region.
About PanXchange (@PanXchange)
PanXchange is an award-winning OTC physical commodity trading platform that 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. In October 2017, PanXchange successfully launched the first ever platform for the 125 million ton proppant market (frac sand), and began issuing the industry’s first official price assessment (benchmark) two months later. Based in Denver, CO, the company has also been live in East Africa for three years, offering the negotiation and trade of more than 30 different agricultural commodities, and opened its fifth location in Singapore in 2018. PanXchange is protected by two U.S. patents, with four more pending, and in 2018 was selected by CIO Outlook as a Top 10 Trading Solution Provider, as well as Barchart’s Startup Exchange winner. For more information, contact email@example.com.