The Metal Chain
For the metals and minerals industry, we were tasked by a consortia of firms representing traders, financers, insurers and logistics to investigate the various options towards improving the way the trading business was executed. Traditionally paper based, the consortia requested the research of going fully digital, mobile and cloud based. This included various execution aspects of the business such as: trade negotiation and pricing (for on/off warrant material, afloat or in warehouse, insured or contingent) dynamic pricing solutions for storage and insurance, APIs for automatic hedging and end of day settlements, APIs for in store stock monitoring and reconciliations, automatic rules and alerts for physical material verification of ownership, provenance and compliance and last but not least mobile solutions to speed up the trade execution, global position monitoring and reporting processes.
The study resulted in a couple of solutions offered to the consortia, elaborated in collaboration and in consultation, out of which one set of recommendations were chosen to be follow up with. The study also resulted in a new digital framework supported by desktop/mobile applications to support the various improvement options.
The final framework resulted in a fully digital trade execution private network, beyond commodities - beyond imagination. A decentralized and mobile ready concept called "The Metal Chain". All consortia members and partners involved were very satisfied with the results and incorporated these lessons learned in their daily business operations.