NEW YORK, January 29, 2001 - bolero.net, an organization focused on the global initiative to move trade onto the Internet, today announced a deal with CoreMarkets, an online marketplace for the international trading of raw materials for the steel industry. The deal gives an indication that a single worldwide standard in international trade could be taking hold.
As part of the agreement, bolero.net will provide CoreMarkets with a system that offers secure electronic transmission of business data and documents along the entire trade chain from front-end order processing and management to back-end trade document exchange. As a result, the steel industry hopes to achieve greater speed and security when conducting business-to-business exchanges, and increase their savings.
"As more members in more countries join and use CoreMarkets as their online raw materials marketplace, we will offer them only the best solutions available to answer all of their needs, such as the e-commerce industry standard that bolero.net provides," says CoreMarkets vice president of value-added services, Laurence Goldfarb. "With bolero, we present our members the opportunity to employ a complete e-commerce solution that transforms international trading into a more efficient, secure and cost-effective process."
The deal with CoreMarkets marks the third partnership within the steel industry for bolero.net. Earlier this year, two other metals exchanges, Ferrous Exchange and EMETRA, integrated the Bolero System for international trading.
According to bolero.net commercial director, Peter Scott, "bolero.net now provides the world trade community with a way of doing business electronically that's secure, offers legal certainty, has adopted open standards and is guaranteed by a neutral third party. As a key player in the steel industry community, CoreMarkets demonstrates their market leadership in e-commerce with its commitment to the Bolero System."
