|NFX Overview |
Natural Fibre Exchange (NFX) is an online trading platform designed to provide trusted, transparent, and credible reference prices for wool and other natural fibre products. Launched in 2018, the NFX platform was initiated by Wools of New Zealand and CRA International as an open, multi-seller trading platform.
Through the NFX platform, sellers gain access to a pool of buyers, and buyers gain access to a single shop-front where they can compare products and pricing of participating sellers. As a result, buyers and sellers can be confident they are transacting at independently established market-based prices. By establishing credible market-based prices, the platform provides industry participants with reference price information that improves the efficiency of the natural fibre marketplace.
Through the initiation of the NFX platform the intent is to provide a more convenient and efficient way for buyers and sellers to trade wool as well as other natural fibre products in the future.
Alliance Group and Progressive Leathers Export Limited have joined Wools of New Zealand as shareholder partners in NFX, and are teaming with CRA International as the NFX Trading Manager.
NFX is governed by the NFX Steering Group, which consists of representatives of the shareholding companies. This group is responsible for ensuring the trading platform operates and develops in line with the Trading Event Rules and its Guiding Principles – including by delivering independent, neutral, and transparent price discovery.
The trading process underlying NFX has been developed by CRA, world experts in trading platforms. CRA operates the trading platform as a service provider ensuring independence and confidentiality of all buyer and seller information.
NFX is open to all industry participants and service providers who meet the requirements of the NFX Participation Agreement. To register interest in participating as a seller and/or buyer, click here.