| LONDON (Reuters) - Sugaronline (www.sugaronline.com),
an Internet gateway to the world sugar industry, plans to launch live
physical sugar trading on November 1, James Proudlock, Sugaronline's chief
executive officer, said on Monday.
More than 1,000 market players registered interest and some 700
companies have visited the sugar trading site since a trial service
started in March.
``It's been through a stress test to make sure it works,'' Proudlock
said. ``We hope to get large end users and sellers to come in on day one
and give the trading system a 'critical mass' to take off.''
Proudlock stressed that Sugaronline has no involvement in either
physical or derivative sugar markets and that its commercial neutrality
should encourage players to participate.
But he recognized that it could be a long haul before on-line sugar
trading becomes part of the daily routine.
``It might take a generation,'' Proudlock said.
Sugaronline's trading service will match buyers and sellers of all
sugar qualities, origins, delivery points, and delivery terms.
Users will be able to specify beforehand which counterparties they are
prepared to trade with. |