Single centralised venue for global participants trading in aquaculture kicks off with world’s most popular fish.
In a press release, London Fish Exchange (LFEX) has announced that it is selling salmon on its platform.
The secure electronic platform for pricing and trading of European salmon was completed and formally launched in late December 2019.
Based in London and independent, LFEX Trading Platform has been released to a number of counterparties, including Norwegian exporters Seaborn. The business was founded by Swede Tommy Pettersson and Brit John Ersser who both have experience in the finance industry – having managed the rollout of the first real-time electronic equities platform in Europe in 1996 and the world’s first real-time internet based FX platform in 1998.
Starting with farmed Atlantic salmon with other fish species and crustaceans soon to follow, LFEX says it enables farmers, producers, exporters, traders, processors and buyers to connect, market, transact, communicate and distribute their products, in a controlled environment.
“To date, there is no global aquaculture exchange or seafood market, no trusted electronic price discovery mechanisms and no focal point for the industry,” it wrote on its website.
However, the start-up is not alone in this segment. Fish Pool and Lakseborsen.no have been in operation in Norway for years.
LFEX said it was starting the process of the wider roll-out of the platform to all interested counterparties, on both the buy and sell-side for farmed European salmon globally, in-line with the company plans.