CBL Markets, the leading spot exchange operator for global energy and environmental commodity markets, announces a strategic partnership with Xpansiv to list a suite of new commodity products based on Digital Feedstock.
CBL is the first trading venue to provide electronically cleared and settled spot contracts derived from source commodity data on its platform.
Xpansiv is a team of industry leaders and experts focused on improving the way commodities are produced, managed, and traded today. Xpansiv transforms the business of global commodities from digital assets that contextualize production data and information through today’s leading technologies.
Launch of the new data-driven product
Digital Feedstock is a new, standardized data format combining data science, cryptography and distributed ledger technology, which allows source commodity production data to be confidentially and securely transferred among parties. For the first time, information about a physical commodity and aspects associated with its production can be seamlessly delivered to market with the assurance of data integrity and provenance.
CEO of Xpansiv, Joe Madden said that the integration of Digital Feedstock with the leading spot exchange paves the way for the digital migration of commodities. It increases transparency, reduces transaction costs and eliminates counter-party risk, while enabling the trade of commodities derived from authenticated source data. The partnership is the foundation of a new, digital commodity ecosystem that will transform how commodities are valued and transacted globally.
Managing Director North America at CBL Markets, Nathan Rockliff said that this marks the beginning of an ongoing, collaborative partnership to build a new infrastructure for low-impact, digital commodities. The partnership of CBL and Xpansiv will help accelerate the global trend for consumers to purchase and producers to price differentiated commodity products.
