As most everyone in the commodities space knows, most bilateral wholesale deals require manual confirmations and invoicing, a rather archaic systems when one considers that exchanges and many brokers have been providing electronic solutions for years. However, we are starting to see a few firms entering the market with the intention of helping move these bilateral transactions into the 21st century. One of those is OneCore Global (OneCore), a Stanford CT based start-up headed by Vikas Wadhera, a long-time industry expert and investor. OneCore is offering two related but dedicated solutions – OneConfirm and OneInvoice – as part of their OneMatch solution suite to better automate the confirmation and invoicing of bi-lateral commodity transactions. For each of these processes, the OneMatch platform is designed to digitally exchange transaction data (confirmations or invoices) between counterparts, brokers, agents and other business partners in a secured, real-time integrated manner. Additionally, OneCore provides a market integration platform called OneConnect that is a “family of software solutions (that) enables customers to connect their E/CTRM, Accounting/Back Office and other internal systems with Trades Execution Venues (OneX) and Market Data Providers (OneData).” We recently spoke with Mr. Wadhera, about his company’s approach to solving the problem of… continue reading
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