CEO of Cargill, International (ret. 06/28/2014) joins PanXchange, Inc. as Director

Norman Hay, who retired recently as CEO of Cargill, International S.A. and head of the Petroleum Business Unit, joins PanXchange, Inc. as Director. Mr. Hay, who has 38 years with Cargill in global leadership roles across grains, energy and soft commodities, will remain in Geneva, Switzerland and focus US and international energy projects for PanXchange.

| Source: PanXchange PanXchange

DENVER, Colo., Sept. 3, 2014 (GLOBE NEWSWIRE) -- via PRWEB - Cites Mr. Hay, "Global physical energy markets, particularly petroleum, suffer from significant inefficiencies, often due to fragmentation and opacity. With the growing need to interconnect markets, there's an increase in demand for simple tools, such as PanXchange, that can provide an efficient and comprehensive overview of where prices are at any moment."

"Norman has been a tremendous asset to PanXchange as an Advisor," states Julie Lerner, CEO/Founder of PanXchange, "We are excited for him to take a more active role as we expand into energy markets." Ms. Lerner also noted that the company held a highly successful pilot launch in the world sugar market and she has just returned from Nairobi, where she launched the pilot for East African grains. She continues, "Moving to electronic trading in physical markets is not a question of 'if' but 'when'. These examples illustrate the flexibility of the platform across geographies and commodities."

PanXchange provides a patented web-based negotiation and trading platform specializing in regional and international physical commodities. The system addresses the complexities of commodity sales and procurement, while also facilitating price discovery (transparency) and liquidity. Built by a former Cargill physicals trader, it offers real-time negotiations of multiple fields, granular counterparty management, pricing mechanisms to avoid unwanted influencing of market values, and all of it anonymously in real–time. Combined, these features create a trading platform that obviates the need for clearing services, allows for an efficient transfer of risk and offers an unprecedented opportunity for objective real-time and historical cash market values.

For further information, please email info(at)panxchange.com.

Investor relations: Julie(at)panxchange.com

#fintech

This article was originally distributed on PRWeb. For the original version including any supplementary images or video, visit http://www.prweb.com/releases/2014/08/prweb12133670.htm


            









    

        
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