Mettalex-S&P Global Platts Data Licensing Agreement Allows Industrial-Grade Price Data Feeds for Commodities Within DeFi
Jan 27, 2022
JANUARY 27, 2022 — Singapore/London — Mettalex, a decentralized commodities derivative exchange, today announced a data-licensing agreement with S&P Global Platts, the leading global independent provider of information, analytics and benchmark prices for the commodities and energy markets, that will facilitate the provision of industrial-grade price data feeds for commodities within the decentralized finance (DeFi) ecosystem and garner blockchain efficiencies.
“We believe that a wide range of commodity assets will eventually become tradable on-chain,” said Humayun Sheikh, Mettalex’s Founder and CEO. “Mettalex’s mission is to advance this process by enabling the market to manage risk, particularly in new niche commodities markets, and democratizing access to the raw materials asset-class. We are thrilled to have one of the leaders in the price benchmarks space, S&P Global Platts, to help us in this endeavor.”
As a result of the agreement, Mettalex expects to better facilitate the trade in unique commodities markets based on secure and reliable price data.
The incorporation of Platts benchmark data holds many benefits, including the ability for Mettalex’s participants to quote long- and short-position prices for commodities such as Uranium, Lithium, Zinc, Aluminum, Copper, Cobalt and more.
It should also help address certain pain points for SMEs, by aiding the development of a blockchain-based platform that features automated market-making, fully quantified risks, 24/7 availability, and increased cost and capital efficiency.
The Mettalex data licensing agreement with Platts follows a tumultuous year in financial markets and commodities. Raw materials have experienced significant price surges in 2021. This has been attributed to several factors including supply-chain disruptions caused by the Covid-19 pandemic, the launch of major multi-year infrastructure projects, and inflation fears.
“We’re pleased that Mettalex recognizes the value of the transparency S&P Global Platts brings to the commodities markets we serve and that it endeavors to utilize our data in innovative new ways as new technologies continue to bring efficiency to the marketplace,” said Matt Eversman, Director of Licensing and Exchange Relationships for S&P Global Platts.
The first S&P Global Platts-supported markets will be launched on the Mettalex DEX on Binance Smart Chain soon. The prerequisite for that is sufficient liquidity. Expect more news in the coming weeks.
About S&P Global Platts
At S&P Global Platts, we provide the insights; you make better informed trading and business decisions with confidence. We’re the leading independent provider of information and benchmark prices for the commodities and energy markets. Customers in over 150 countries look to our expertise in news, pricing and analytics to deliver greater transparency and efficiency to markets. S&P Global Platts coverage includes oil and gas, power, petrochemicals, metals, agriculture and shipping.
S&P Global Platts is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies and governments. For more information, please visit: www.spglobal.com/platts
Mettalex is a decentralized commodities derivatives trading platform powered by Fetch.ai. Founded with the mission to bring the $20 trillion commodities market on-chain, Mettalex provides the technology needed to scale the DeFi ecosystem to meet the needs of today’s global financial markets. The Mettalex DEX aligns the incentives of traders, liquidity providers, and physical commodity holders, and brings unique, commodities-focused markets to the DeFi space. Mettalex’s innovative system design introduces improvements in UI/UX, trading processes and risk management.