The inaugural Natural Fibre Exchange (NFX) trading event took place on 22 May. Eight trading events have occurred fortnightly, most recently 28 August, and all have been successful.
Four to six sellers have offered lots across the trading events, and four to seven buyers have submitted bids across the trading events. The number of winning buyers has ranged from four to six.
The number of lots offered has ranged from 44 to 66, with offered nett kg ranging from 157,677 to 253,120 kg. Across the eight trading events, 88 percent of the offered lots and 90 percent of the offered nett kg have sold.
Summary results for NFX trading events can be found on the NFX Information Website at www.naturalfibreexchange.com/Results/ResultsSummary.aspx and detailed results for each trading event can be found at www.naturalfibreexchange.com/Results.aspx. To receive automated emails with the latest news and results, click on “Sign up for email alerts” on the home page here: www.naturalfibreexchange.com.
New Auto-Bid Option for Buyers Coming Soon
In future NFX trading events, a buyer will have the option to enter maximum bid prices for lots. With this option, buyers do not need to participate in the round-by-round bidding. Even if a buyer uses this “auto-bid” option, they still will be able to change their bids each round if they like. This new feature is expected to be available by end of October.
About the Natural Fibre Exchange
Natural Fibre Exchange is an online platform established to connect buyers and sellers, providing trusted and transparent market-based reference prices, as well as an efficient selling and buying mechanism for wool and other natural fibre products sourced from New Zealand and other supply markets longer term.
How it works
All products in a trading event are on offer simultaneously over multiple rounds of bidding and continuing until there is a round with no new bids. NFX is open to all industry parties and service providers who meet the requirements of the NFX Participation Agreement to be a seller and/or a buyer. As a buyer you also must have pre-approval from a seller to bid on that seller′s products. For more information or to register go to the NFX information site at www.naturalfibreexchange.com.
Contact:
Rosstan Mazey, NFX spokesperson
+64 21 402 411, rosstan.mazey@woolsnz.com