Transformational web-based platform will
connect North American cattle producers
CALGARY, June 16, 2015 /PRNewswire/ - TMX Group today
announced a new initiative that will further expand the reach of
its world-leading operational capabilities. AgriClear, an online
platform designed to provide U.S. and Canadian cattle buyers and
sellers with an efficient, cost-effective transaction and payment
service opens today.
"Today's launch of AgriClear represents an important opportunity
for TMX Group to apply the depth of expertise we have across our
business lines to address client needs in a new market," said
Lou Eccleston, CEO TMX Group. "We
are pleased to be at the forefront of major evolutionary steps in
the U.S. and Canadian cattle markets."
AgriClear offers cattle producers a new way to do business with
important benefits for both buyers and sellers, including assured
payment for cattle delivered at the terms negotiated. By joining
the AgriClear community, marketers will now be able to securely
list and execute cattle transactions from their computer.
With offices in Calgary,
Houston, Bowling Green (Kentucky), and Greeley (Colorado), AgriClear operations will benefit
from the financial support and clearing expertise of NGX, a
wholly-owned subsidiary of TMX Group that offers trading and
clearing services for natural gas, crude oil and electricity
contracts.
AgriClear features are designed to deliver multiple benefits to
U.S. and Canadian cattle buyers and sellers, including a lower cost
structure, an expanded market with a broader network of verified
members, and financial certainty for transactions, with NGX acting
as administrator of AgriClear's back-office payment and settlement
services.
"AgriClear is an exciting initiative that will expand NGX's
reach into the cattle business," said Jim
Oosterbaan, President and CEO, NGX. "We are excited to
provide buyers and sellers with choice, efficiency and transparency
as well as the opportunity to conduct business on their
terms. AgriClear leverages our proven capabilities in
facilitating delivery and providing payment solutions."
For more information about AgriClear, please visit our site:
http://agriclear.com/
About TMX Group (TSX:X)
TMX Group's key subsidiaries operate cash and derivative markets
and clearinghouses for multiple asset classes including equities,
fixed income and energy. Toronto Stock Exchange, TSX Venture
Exchange, TMX Select, Alpha Group, The Canadian Depository for
Securities, Montréal Exchange, Canadian Derivatives Clearing
Corporation, NGX, BOX Options Exchange, Shorcan, Shorcan Energy
Brokers, Equicom, AgriClear and other TMX Group companies provide
listing markets, trading markets, clearing facilities, depository
services, data products and other services to the global financial
community. TMX Group is headquartered in Toronto and operates offices across
Canada (Montréal, Calgary and Vancouver), in key U.S. markets (New York, Houston, Boston and Chicago) as well as in London, Beijing and Sydney. For more information about TMX Group,
visit our website at www.tmx.com. Follow TMX Group on Twitter at
http://twitter.com/tmxgroup.
SOURCE TMX Group Inc.