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ACTIVITIES  

Introduction
Comdaq.net was formed in July 1999 as a consolidation of a number of pre-existing businesses. We own and operate the Comdaq.net trading engine, which is a series of interactive, on-line, business to business exchanges for the trading of a number of physical commodities.

To ensure markets of the highest quality, Comdaq is entirely independent of any market participants so that we can offer truly neutral exchanges – we believe that we are the only truly independent b2b exchange that is actually operational in any of the markets that we serve.

What is Comdaq?
We are a vertically integrated business with both in-house software and delivery functions. This allows us to react extremely quickly to the wishes of market participants and to offer not only exchanges, but also tailored e-commerce and Customer Relationship Management solutions.

One of our strengths lies in the diversity and depth of experience of our management teams. We are a combination of Internet specialists with a long history of successful technology and business integration and trade experts. We are not just an Internet company but a group of specialists with a clear vision of the future of international trade in commodities and the aim of lowering the costs of trade significantly.

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PRODUCTS AND SERVICES

Trading Exchanges   (Contact)

In the central exchange, members are free to enter bids and offers into the market as and when they wish. Trading is conducted on an anonymous basis up to the point where the deal is confirmed, and on-line negotiations may be conducted on any aspect of the contact, from price to payment terms to bag markings. On-line messaging to the Comdaq screens, and an email copy to the user’s nominated account back up every stage of a transaction. Parties will find out whom the trade has been conducted with only when the trade has finalised and the contract has been generated from the system. Naturally, this raises the issue of counter-party risk, and this is dealt with through the pre-approval of acceptable trading partners. Thus, companies may pre-approve other members of the exchange for trade on one or all of the following bases: in store; afloat; shipment. With each release of our software we make the trading approval criteria more sophisticated. If two counter parties have mutual approval, then their orders are ‘live’ in the system, and may be booked and / or negotiated at will. Should approval not be granted in both directions, the counter-parties will be able to view order details, but will not have the ability to trade them.

Auctions and Tenders   (Contact)

These sites operate with a closed user-group defined by the buyer/ seller for each tender/ auction. The originator may choose to put the business to one or more traders in his counter-party list for any quantity, origin, quality, terms and conditions. Counter-parties are informed of the interest via both the Comdaq screen and email, and may choose whether to respond. The originator is under no obligation to accept any response. These sites are aimed at traders who already have a well-established supplier/ buyer base but who require supply chain management efficiencies that the current disjointed practices simply cannot provide. The system provides a way of reaching multiple counter-parties very quickly and efficiently with your market interest, and managing the subsequent responses in a clear and easy-to-compare fashion. At present, we are developing an open site for auctions which will enable more ‘traditional’ auctions to take place where all parties can see the best bids in the market and a central ‘auctioneer’ controls sales. It is likely that Origins will find this site particularly useful as it will allow them to expand their buyer base outside their own country into the international trading community.In addition to the tenders and auctions we have designed for our exchange sites, we have also designed a more generic version of this software, which is highly customisable to almost any product or, indeed, service. It allows for a full faceted customisable multi-attribute definition of the goods, and an efficient and effective way to manage responses.

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Phone Brokerage

Comdaq has experienced and respected off-line brokers who are ready to assist clients with all aspects of their business. Comdaq is particularly active in the marketing of cement, being associated with a consortium representing over 740 factories throughout the World, and has similar relationships with oil producers, iron ore mines, polymer and plastics producers and chemical interests.

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Quotes Systems   (Contact)

We have software implemented on our Rice pages which enables swift and customisable dissemination of pricing information to your customers and suppliers. In addition, your customers and clients are able to instigate an online “request for firm offer” and enter into a negotiation process. The quotes system represents a highly intelligent and interactive form of the “daily price sheet” which is so costly and time consuming for many companies.

A “market comments” section can also be built in. All this is conducted in a password-controlled environment, so that you can ensure that the right people have access to only the information you want them to see. We are happy to tailor this software whatever your needs/ products. Please contact Colin Howard on 07891 223443 for further information.

Execution Systems   (Contact)

It is Comdaq’s intention to automate the fulfillment and settlement processes by integrating on-line freight, trucking, insurance and other ancillary services as well as to provide for the provision of shipping/ warehouse documents of title by electronic means through the Comdaq site. This will naturally be undertaken with full security and full encryption. Comdaq is also exploring the possibility of cleared physical transactions in order for participants to realise significant cost savings by being able to offset margins for futures and options transactions. Discussions are at early stages with major commodity financing banks as to how such a system would work. We have implemented a execution system in our Rice exchange which integrates buyer, seller, inspection agent, vessel agent and insurance company, allowing them all to access and update information about a particular contract in a password-protected environment. We believe this type of process efficiency will provide major benefits to many in the commodity trading arena, and are currently planning to extend this functionality to our other exchange sites.

Swaps Platform   (Contact)

Our swaps platform is currently deployed on the metals exchange only. It is notable for being able to cope with both location and quality swaps. As demand for this service emerges within other commodities we will expand this service.

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Bespoke Software   (Contact)

1. Customer Trading Extranet -
This can be offered in various levels from full integration with Comdaq’s own site to a fully stand alone basis, covering anything from full market exposure to closed internal systems.The Customized Trading Extranet is essentially a trading house’s own dedicated exchange through which it can communicate with its customers.

It requires no IT resources from the trading house, being fully hosted and maintained by Comdaq. The system will give the trading house an instantaneous audit trail of the transactions it has done – it is in this way a position management tool for internal purposes which can be linked to a similar tool that the trading house has for futures markets.

Benefits include

  • It is simple to use
  • It is designed by traders for traders
  • It provides an audit trail for all trades and data links into the back office
  • It provides instant savings, as the communication with customers is made far more efficient and cost effective
  • It gives the traders at the Trading house more time to do the most important tasks rather than be involved in time-consuming administration calls with customers – they have more time to talk to their customers about the market rather than having to deal with tedious administrative tasks
  • It is ready to use right now – there is no massive upfront fee required to be paid in the hope of a system being created – we are happy to discuss various payment methods in particular on a usage basis with a ceiling on the maximum amount payable
2. Third Party software -
Comdaq has a unique resource in its own software house in Pune, India.

We have conducted software design and implementation for a number of companies unrelated to the commodity industry, and are happy to talk to any one interested in a low cost and robust software solution.

Further Information / Action

Please direct any queries on Comdaq.net or our product ranges to , or call 07891 223443. We will be happy to provide a demo of any aspect of the site at your convenience.
Registration is via our Internet site at www.comdaq.net

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