• back
  • 4.3-COTTON TRADING-COTTON EXPORTS AND INTERNET TRADING

  •  
  • Cotton exports and Internet trading

    Chapter 4 - Cotton trading - Cotton exports and Internet trading

     
     
    The Seam (www.theseam.com) began in 2000 as a completely Internet-based online marketplace for cotton. Founded by a consortium of companies involved in cotton, manufacturing and agriculture, the vision for the firm was to become a web-based hub for a variety of business-to-business transactions and services. That vision has been expanded to now include other commodities and products.

    One facet of that vision was to make online cotton trading available globally. A long history of trading United States cotton electronically had already demonstrated that buyers and sellers recognized the value of the efficiencies gained through technology. The Seam launched its International Marketplace in 2002 with five growths: Australia, Brazil, Commonwealth of Independent States (CIS), West Africa and United States. The International Marketplace offers a platform for merchants to post offers or bids to the global trading community. It provides an end-to-end solution for generating, managing and fulfilling an ICA contract. In addition to expanding the global reach of merchants, instantaneous, transparent price discovery is available. The system also manages counterparty screening and credit.

    The International Marketplace has continued to grow and extend its service offerings to other market participants. Growths from Greece, Paraguay, Argentina, Pakistan and the United Republic of Tanzania have been added to the platform.Other world growths will be added soon. More recently, the systemwas opened to a limited number of origin sellers in Brazil through online auctions.