Any grain growers out there that use this system? thoughts?
NZX to buy Australia's CLEAR grain exchange Dow Jones Newswires
October 6, 2009 NEW Zealand exchange operator NZX Ltd said today it has agreed to buy Melbourne-based CLEAR Group Ltd, owner of the CLEAR Grain Exchange.
"This is in the form a purchase of the assets of Clear Group, comprising in particular, Clear Commodities, the Clear Grain Exchange and Clear Interactive, the technology developer of the Clear Grain Exchange," NZX said in a statement.
The initial purchase price will be about A$6.4 million in cash.
If significant trading volumes are achieved over a three-year period, the increasing value of the grain platform will be recognized and an additional unspecified payment made.
Clear Grain Exchange is the Australian grain industry's only full-service electronic market for the trading of grain, NZX said.
NZX Chief Executive Mark Weldon said NZX was a strategic fit with Clear Grain Exchange, joining NZX's agricultural data and market information assets.
"This transaction brings together two key components of NZX's strategy: trading of agricultural commodities and acquiring technology development expertise to grow markets."
The transaction will be completed at the end of this month.
