VerticalNet Solutions Selected by CoreMarkets to Power Digital Marketplace for Metals Industry
CoreMarkets Establishes Neutral Industry Exchange For Raw Materials
SAN FRANCISCO--(BUSINESS WIRE)--Sept. 19, 2000--VerticalNet Solutions, an innovator in building open digital marketplaces, and a division of VerticalNet, Inc. (Nasdaq:VERT - news), the Internet's leading network of business-to-business commerce communities, today announced that it has been selected by CoreMarkets to develop its next generation exchange platform for global trading of raw materials for the steel industry.
``CoreMarkets is ahead of the curve in delivering a B2B digital marketplace solution to answer the evolving market need within the metals industry,'' said Zev Laderman, president and CEO of VerticalNet Solutions. ``We believe that the combination of our leading transaction platform and CoreMarkets' industry expertise will deliver a commanding industrial online marketplace.''
CoreMarkets offers producers, consumers, traders and other industry specialists a compelling digital marketplace that is the industry's most comprehensive online source of raw materials for the steel industry. VerticalNet Solutions' eMarketplace Suite will allow CoreMarkets to enhance its online marketplace with an extensive range of transaction types for real-time market pricing of a broad range of raw materials. VerticalNet eMarketplace Suite is a unique multi-parametric commerce solution that reduces the complexity of this marketplace and allows buyers and sellers to search and transact by considering multiple attributes, not just price. This capability enables CoreMarkets to quickly reach a critical mass of market participants that can find the optimal transaction for their needs.
``CoreMarkets' strategic relationship with VerticalNet Solutions will allow us to deliver a highly efficient, robust solution to our marketplace,'' says Howard Feldman, CEO of CoreMarkets. ``VerticalNet eMarketplace Suite allows our users to search and transact on multiple attributes, other than simply on price, and to match relevant buyers and sellers in real time.''
VerticalNet eMarketplace Suite(TM) is an end-to-end solution for building and managing open digital marketplaces that are focused on the procurement of direct goods and that provide integration to traditional contract buying methods. eMarketplace Suite is a comprehensive set of content, community and commerce-related design tools, as well as multiple commerce transaction modules, including auctions, catalogs, exchanges, RFPs/RFQs, and structured negotiations. Featuring its Transaction Discovery(TM) model, VerticalNet Solutions' technology allows multiple buyers, sellers and transaction enablers to be matched real-time on a simultaneous parameter-by-parameter basis. |
