E-Commodity Bazaar embraces Turkey

İzmir Commodity Exchange (ICE) continues to expand the service network of E-Commodity Bazaar electronic commodities trading platform developed by the ICE to improve the electronic trading of agricultural and food products among its members at the national and international level.

A delegation comprising the chairpersons, presidents and board members of Karacabey, Aksaray and Kayseri Commodity Exchanges, who were in İzmir to visit AGROEXPO fair, was hosted by the ICE on Friday 2 February 2018.

In the meeting held with the participation of the ICE representatives, the delegation was informed about the functioning of E-commodity Bazaar electronic trading platform developed by İzmir Commodity Exchange. At the end of the meeting, a cooperation protocol was signed between Kayseri, Aksaray and İzmir Commodity Exchanges regarding the E-Commodity Bazaar platform.

With these protocols, members of Kayseri and Aksaray Commodity Exchanges will be able to promote their companies and products on the E-Commodity bazaar portal and they will get the opportunity to cooperate with many different local and foreign companies that are also registered in the system.

Commenting on the promotional activities carried out and cooperation opportunities sought for E-Commodity Bazaar platform, the ICE chairperson Işınsu Kestelli said, "As commodity exchanges, we are active in the fields of agriculture and agricultural industry that are of vital importance for our country. I think we have significant responsibilities in this sense. Finding solutions to the problems our member firms face regarding their respective sectors and increasing their business capacities are among our priorities. We also have responsibilities in developing the production capacity of the agricultural sector and ensuring a more efficient agricultural commodity trade."

Having noted that they had continued their activities and had developed projects as the oldest commodity exchange of Turkey for 127 years in order to enhance the agricultural sector both in İzmir and Turkey, Mrs. Kestelli added "One of the latest projects of our Exchange aims to improve the electronic trading capacities of the companies operating in the agricultural sector. Traditional trading methods are definitely very important, but it is impossible to overlook the internet and information technologies in the changing world. Therefore, as İzmir Commodity Exchange, we launched a virtual marketplace project called "E-commodity Bazaar" some time ago. We are working to develop our electronic trading platform by collaborating with domestic and foreign commodity exchanges and professional organizations. We previously signed a cooperation protocol with Karacabey Commodity Exchange. Today we have signed the same protocol with Kayseri and Aksaray Commodity Exchanges. We would like to visit these exchanges in the near future and hold meetings with their member firms in order to introduce our system to the participants."

Mr. Şaban Ünlü, chairperson of the Board of Directors of Kayseri Commodity Exchange and Mr. Hamit Özkök, chairperson of the Board of Directors of Aksaray Commodity Exchange, expressed their gratitude in being a part of the system and wished this cooperation to be fruitful for both parties.

Dr. Erçin Güdücü, secretary general of the ICE, made an informative presentation about the projects run and works carried out by the ICE to the chairpersons of both Exchanges and the delegation accompanying them. After the presentation, the delegation also visited the cotton and raisins transaction halls and got detailed information about the sessions.