BOSTON–(BUSINESS WIRE)–CRA International, Inc. (NASDAQ: CRAI), a leading global provider of economics, finance and management consulting services, today announced the launch of Global Dairy Trade Pulse Auctions with the first GDT Pulse Auction (PA-001) scheduled for August 9, 2022.
ARC is working with its client GlobalDairyTrade Holdings Limited to offer GDT Pulse Auctions to complement the bi-monthly GDT trading events that ARC has run since 2008. ARC will operate the GDT Pulse Auctions and the first Pulse Auctions are considered a program pilot. occurring every other week between GDT trading events, which occur on the first and third Tuesday of each month. By design, GDT Pulse Auctions will provide more frequent price discovery for the dairy industry to complement the price discovery provided by GDT Trading Events.
The first GDT Pulse auction will offer one dairy product specification to bid on: Fonterra Whole Milk Powder, Regular, Contract Period 2. This will ensure a short auction duration of 15-30 minutes, providing a convenient option for bidders. GDT Trading Events will continue to be the high volume, high liquidity auctions the dairy industry watches, while GDT Pulse intends to provide interim commodity price discovery between GDT Trading Events auctions. .
After the pilot period for GDT Pulse Auctions, the merit of GDT Pulse and the future potential for more frequent price discovery will be assessed. If the pilot is deemed successful, it is envisaged that GDT will invest in platform upgrades to enable scalability of the service offering and the potential for daily auctions. Other sellers will be invited to offer products at that time.
As with GDT Trading Events, CRA will manage GDT Pulse Auctions using CRA’s latest trading platform, Trading System for Efficient Markets (TSEM™). CRA’s TSEM is highly scalable for a variety of bidding mechanisms and allows customers to customize the UX/UI to optimize the experience for bidders and other market participants. ARC’s trading platforms have been used for hundreds of auctions and other competitive bidding mechanisms across a wide range of industries.
Additional information about Global Dairy Trade is available on GDT’s news website at www.globaldairytrade.info.
About CRA International, Inc. and Its Competitive Bidding and Bidding Practices
CRA is a global advisory firm specializing in litigation, regulatory, finance and management advice. CRA advises clients on economic and financial matters relating to litigation and regulatory proceedings, and guides companies through critical business strategy and performance issues. Since 1965, customers have turned to CRA for its unique combination of functional expertise and industry knowledge, as well as objective solutions to complex problems. Based in Boston, CRA has offices around the world. Detailed information about Charles River Associates, a registered business name of CRA International, Inc., is available at www.crai.com. Follow us on LinkedIn, Twitter, and Facebook. ARC’s auctions and tenders practice provides businesses, governments, bidders and other market participants with extensive experience in designing, implementing, monitoring and participating in auctions and tenders. markets. Further information on CRA’s auction and tendering practices is available at www.auctions.crai.com.
The statements contained in this press release regarding the GDT Pulse auctions as well as the future number of GDT Pulse auctions that the ARC will manage or operate as well as statements using the terms “frequency”, “scalability”, “ensure” or similar expressions are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations and are subject to a number of factors and uncertainties. The information contained in these forward-looking statements is inherently uncertain, and actual performance and results may differ materially due to many important factors. These factors that could cause actual performance or results to differ materially from the forward-looking statements made by ARC include, among others, the failure to generate commitments for us; potential loss of customers; the demand environment; global economic conditions; exchange rate fluctuations; and intense competition; and other potential factors that could affect our financial results that are included in our periodic filings with the Securities and Exchange Commission, including those listed under the heading “Risk Factors”. We cannot guarantee future results, activity levels, performance or achievements. We undertake no obligation to update any forward-looking statements after the date of this press release, nor do we intend to do so.