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LFEX, the Global Electronic Seafood Market, Successfully Commences Trading of Icelandic Salmon on the platform
Published: 2nd February 2020
This Article was Written by: John Ersser
LFEX today announced that subsequent to the successful market launch and trading of Norwegian Salmon, the company is pleased to announce the first transaction of Icelandic salmon on the platform.
The LFEX platform has been specifically designed to allow the business to add and rollout with relative ease new products on the system. After a full suite of software testing, Icelandic Salmon was added as a new product option to the platform and the first trade has been initiated and completed.
The trading of Icelandic Salmon on LFEX permits the similar choice of parameters as Norwegian, including harvest dates, delivery dates, certification, quality, sizes, prices etc and of course the ability to trade these FCA, DDP etc. in multiple currencies and locations to fit in with the requirements of buyers.
Farmed salmon from Iceland is a significantly growing market, with licensed volumes of 60,000 (in 2020), and prospective harvests of 35,000 this year, going to 41,000 and 57,000 by 2022, a volume increase of over 100% on the 27,000 in 2019.
We look forward to developing trading in Icelandic salmon over the coming months and years, as the high quality reputation for Icelandic salmon continues to develop and becomes available for more buyers. We will also continue to develop relationships with more exporters and farmers and look forward to adding further supplier choices and product options for users of the platform.
About London Fish Exchange (LFEX)
Based in London and independent, LFEX Trading Platform has been released to a number of counterparties and trading has commenced in Atlantic Salmon.
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Our core team have been at the forefront of the evolution of electronic trading in financial markets, having managed the rollout of the first real-time electronic equities platform in Europe in 1996 and the world’s first real-time internet based FX platform in 1998.
LFEX is supported by a range of companies through investment, support and services including exporters, processors, farmers, leading industry news providers, currency and payments, technology partners, financial brokerage firms as well as legal, infrastructure and operational partners and logistics companies, and a global network of relationships stretching from the US, Europe and Asia.
We welcome global participants in the European farmed Atlantic Salmon market to register with us and start trading. In addition, we welcome fish and crustacean farmers, exporters, producers, fisheries, processors, buyers and related market participants and other interested parties to register with us.
We look forward to engaging and working with you as we rollout additional species and products on the platform.