Gotta Start Somewhere

GlobalExchange logs first E2E transaction

PORTLAND, ORE.  March 2, 2001  GlobalExchange, a developer of exchange-to-exchange (E2E) e-commerce connectivity software, today announced it has processed its first B2B transaction across its EX3 Network, one month ahead of schedule.

The transaction was logged on the site of GlobalExchange's first managed exchange (MX) client, a computer and electronics vertical exchange. GlobalExchange's MX division, which creates, maintains and hosts B2B exchanges, currently has 10 vertical sites in development in a variety of industries.

The computer and electronics exchange is the first MX site to become functional, with a combined offering of more than 100,000 items from multiple databases.

GlobalExchange's proprietary EX3 Technology is a Java-based software engine that uses industry-standard eXtensible Markup Language (XML) protocols to enable B2B exchanges to communicate across multiple platforms. Serving as a dynamic hub linking seller product offerings and buyer bids, EX3 Technology displays all products in vertical market categories listed on any EX3-networked exchange.

In a statement from GlobalExchange, company founder and CEO Tony Schwartz said that the EX3 Technology, originally scheduled for launch on March 31, could help B2B e-marketplaces to generate a critical mass of transactions, which Net marketeers refer to as "liquidity," by enabling buyers to conduct deals across exchanges.

"News comes in almost daily of another B2B exchange shutting down," Schwartz said. "The B2B e-commerce community has had a disastrous year, but one of the few positives is that even the major players are finally realizing that a slick business model is no substitute for liquidity."

Commenting on the early roll-out of the network, Schwartz said: "The recent B2B industry uncertainty and volatility, not to say outright panic, certainly inspired us to speed development of our EX3 Network. Collaborative networking is the solution B2B exchanges will increasingly turn to as a way to survive these early setbacks."

GlobalExchange was founded in Portland, Ore., in June 2000.