PanXchange is a web-based OTC physical commodity trading platform. Designed by a veteran Cargill trader, the software platform allows buyers and sellers to negotiate specific details of a trade, including the location and timing of delivery and the exact quantity and quality of the commodity — all of it anonymously, in real time, with counterpart management and no costs related to clearing and regulation. Headquartered in Denver, the company has successfully piloted its platform in world market sugar and U.S. feed grains. PanXchange has been live in East Africa for nearly three years, offering the negotiation and trade of more than 25 different agricultural commodities. In October 2017, PanXchange successfully launched the first ever platform for the negotiation and trade of the 100 million ton proppant market (frac sand). In December 2017, PanXchange began issuing an official price assessment methodology for an FOB Odessa, TX benchmark price. This price is published on a weekly basis, initially offering week-ahead spot prices for FOB Odessa. PanXchange is protected by two U.S. patents, with four more pending, and was selected in 2016 as a Futures Industry Association Innovator.
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