We have been building, launching and running electronic pricing and trading platforms since 1996.
We have seen industries evolve, change and develop offering improved information, access and transparency, delivering better, more efficient businesses and markets, supported by pre and post trade data and services as these markets have evolved.
LFEX has spent considerable time with market participants, both buy and sell side to understand this market. We discovered a lot similarities between fisheries/aquaculture industry and other industries, including the fundamental uncertainty around pricing – created by a data vacuum – with no independent central infrastructure or market for support or guidance.
The technology we have implemented fulfils the needs and requirements in a way that suits your market and the way you operate.
LFEX technology allows sellers to automatically distribute their latest prices to a huge universe of different customers instantly, automatically initiating the first contact with the buyers, making tailor made pricing instantly available to them.
Users can update pricing as often as needed with a few clicks. In busy and moving markets this can mean the difference between winning and losing orders or selling inventory quickly when required, allowing you to close the deal, or managing prices upwards where supply is becoming limited. This allows sellers to really focus price optimisation, inventory maximisation, sales activity with buyers and relationship management.
By automation of pricing there is no need for cutting and pasting pricing from excel into different applications, and no need to wait for the buyers to open emails just to be able to see your pricing, and it offers consistent price calculation across the business to avoid revenue leakage. It also ensures you are centrally capturing and recording your pricing.
With client activity in one place staff can instantly see what the last price was that they made to a customer and also what their colleagues prices currently are. Access to your traded prices, current RFQs and index pricing gives sales staff and management access to a lot more data and data drives business.
The platform supports targeted offers to select customers, as well as micro-managing customers a long way from home. Sellers can set-up orders for customers to access overnight, and chat and support them 24 x 7 using web and mobile access in real-time.
It provides excellence of service to customers, confidence in pricing, and a true record of the transaction between the parties for settlement, held by both sides. Within the seller it delivers efficiency, data transparency and control. All data is available for mining, sorting and downloading into third party systems, and because the terms of the trade have been fully established on the platform no re-keying or fat finger errors.
We believe transactions recorded on post-it notes and a ‘thumbs up’ on WhatsApp as a confirmation of a trade will become a thing of the past. Our technology provides limitless growth, and we’re just getting started.