Woolsellers buy into NFX

Waipa Post - - The Country -

The in­au­gu­ral Nat­u­ral Fi­bre Ex­change (NFX) trad­ing event at­tracted strong par­tic­i­pa­tion with 96 per cent of the wool on of­fer 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 which de­signed the NFX plat­form and man­ages the trad­ing events 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 sig­nif­i­cant sellers pro­vided lots for sale.

“It’s a new plat­form for wool buy­ers and sellers, it’s in­tu­itive and ini­tial feed­back has been 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 and 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.”

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