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Bloomberg
Glencore’s agriculture unit has become the latest trading house to join an initiative to modernise the way grain and oilseed transactions are handled.
The group, which includes Archer-Daniels-Midland Co, Bunge Ltd, Cargill Inc, Louis Dreyfus Co and Cofco International, is working on a new platform in an effort to make global trading faster and more efficient.
The platform, which may use blockchain and artificial intelligence, is planned for the second half of 2020, subject to regulatory approval, the companies said.
“These advances are necessary for our industry to continue serving our critical global role efficiently and effectively,†Glencore Agriculture chief executive officer David Mattiske said in a
statement.