PrivateMarkets, Inc. offers an Internet-based marketplace that links together a network of potential buyers and sellers who trade specific physical commodities. The product enables customers to instantaneously create a “mini-market” where others that they select can vie competitively for their business. It replaces individual, undocumented, one-on-one voice or IM communications between trading counterparties with a hosted, easy-to-use service, accessible from any trader’s desktop.
The company’s patented “virtual private market”, optimised for physical trading, allows customers to select a specific subset of known buyers and sellers, customise a bid/offer for them, and then conduct a negotiation. PrivateMarkets maintains bilateral privacy for each transaction and leaves the initiator of each trade in control of the negotiation and execution, both important elements for the physical commodity trader. The product creates an efficient and effective marketplace by ensuring clear and understandable trade specifications, providing secure and reliable messaging between parties, enforcing consistent negotiation and execution rules, and ensuring customer data integrity. All negotiation and transaction data is captured for integration with backend processes, and risk/credit controls can be implemented.
Christopher Sanders - President and Chief Executive Officer
Board of Directors
Richard C.E. Morgan - (Chairman) Chief Executive Officer, Amphion Innovations
Kenneth Lord - Chief Executive Officer, FireStar Software, Inc.
Raymond McKenzie - Partner, Geninvest
Christopher Sanders - President and Chief Executive Officer, PrivateMarkets, Inc.