Commerce One enables $500 million exchange
Trade Alliance Far East e-marketplace handles $500 million of transactions on its first day of trading, after taking just 30 days to go live
Commerce 1 has enabled a Far Eastern trading exchange to handle $500 million of business in just one day. The Trade Alliance marketplace, a $30 million joint venture between Asian business group Sinar Mas and the Nissho Iwai Corporation not only went live in just 30 days, but it also handled $500 million on it’s first day of trading at the end of August.
The Trade Alliance comprises two separate marketplaces, e-FoodAlliance and ePaperAlliance, which serve the $500 billion global food industry and the pulp and paper industries respectively. Operations are planned to extend to 15 Asian countries including China and India within a few months.
“Our vision is to build a digital business that integrates seamlessly with traditional existing businesses. We are partnering with large business groups and leading technology providers like Commerce One to deliver real sustainable revenue generating business solutions,” commented Anthony Peake, CEO of Trade Alliance.
Global Corporations Join e-Market
The marketplace is powered by Commerce One’s MarketSite Portal Solution, which enables collaboration and exchange of business documents, as well as other Commerce One services such as auctions and content management.
Nisso Iwai Corporation is one of the largest general trading companies in the world, ranked number twenty on the Fortune Global 500. It’s alliance with Sinar Mas, an Asian business group with assets of $15 billion, to create Trade Alliance, creates one of the largest business markets in the world, with more vertical marketplaces expected to launch soon.