Comdex is trusted by stakeholders across the commodity value chain to be able to bring efficiency, security and transparency to cross border commodity trade processes.
Comdex revolutionizes the $17 trillion a year commodity trading industry by using existing banking structures and advanced technology. With a plethora of solutions including a single platform to connect trade financiers, aid in trade settlement and propel trade discoveries, Comdex is already in the pilot phase with trades of millions of dollars.
Comdex's blockchain is built on Persistence, an enterprise blockchain toolkit,
with features of immutability, provenance and cross-chain communication
Comdex impacts the fragmented commodity trade indsutry by making it faster, more transparent and efficient. The vision of Comdex is to revolutionize the rudimentary process of global commodity trade to minimize settlement times and maximize transparency, efficiency and immutability in trade. The solution is designed to harmoniously tie the existing industry protocols and bleeding-edge technology to ensure trust, speed and scalability of trade transactions and settlements.
Why Commodity Trading needs Comdex?
The cross border commodity trade industry experiences several painpoints,
some of which decrease overall efficiency while others increase risks associated with the trade
Lengthy Trade Cycles
Archaic banking systems and a high number of intermediate touchpoints in the settlement system create delays in trade cycles.
No Consolidated Marketplace
Absence of a reliant platform based marketplace to facilitate secure and seamless trade document exchanges and negotiations
Extensive Legal Cycles
Potential falsification of data including forgery and misrepresentation of facts breeds distrust resulting in lengthy legal checks and processes
Lack of Credibility
No Ratings / Scoring system establishing the credibility of the trading parties
Comdex is a comprehensive all-in-one platform with a suite of products, designed for the Commodity Trade Industry.
The solutions include but are not limited to:
The Comdex platform performs thorough KYC and AML checks on all the trading organisations present on the platform with the reputable tools like Thomson Reuters- World Check One and Refinitiv Eikon.Know more...
Traders on the platform can maintain and exchange key trade documents and information of their existing trades, all of which are stored on the blockchain securely and immutably. The information can be organised to generate reports for tracking of trade activity.Know more...
Live Trade Room
Features such as live chatbox, shared document view, documentary tagging and e-signing enable frictionless negotiation and finalisation of contract & trade terms, document exhange and signing between trade parties.Know more...
Traders can make cross-border payments almost instanly without bearing the high expense and settlement time that arise from using the SWIFT system. Comdex uses advanced real-time domestic settlement protocols present in the platform's supported regions.Know more...
Trade financiers on the platform have access to a directory of verified trades between KYC'd trading parties requiring financing. The module is designed to assist financiers in assessing financing proposals considering all the risk factors invloved in the trade.Know more...