NZX Australia, the parent company of a range of grains businesses such as ProFarmer and Australian Crop Forecasters, has announced a partnership with online trading platform igrain.
The partnership agreement will see some of NZX’s systems technology rolled out across the igrain platform.
Tom Roberts, igrain managing director, said the partnership had advantages for both businesses.
“NZX has a strong information technology and systems set-up whereas we have our strengths in our relationships with our clients, so by linking the two we will come up with a stronger product.”
“It’s a quicker, lower-touch approach which means growers will see money in the bank in a shorter time, up to several weeks sooner in some cases.”
He said both businesses would benefit from the increased liquidity of having more customers on the one platform.
“The key to a trading platform is getting that volume through and this deal will do that.”
Nathan Cattle, NZX Australia general manager, agreed.
“The more activity there is in the online marketplace, the greater the benefit for growers and the rest of industry,” he said.
“Opening up the east coast market to more storage providers is another step towards achieving critical mass and generating broader benefits” he said.
