London, 18th July 2018: UK software house Sinara Consultants, a specialist in IT systems for exchanges and their member firms, has successfully built an Inventory Management system for Euronext’s commodities business.
Euronext Inventory Management (EIM) supports the digitisation of documents of title for physical commodity products. Sinara developed EIM for Euronext to meet the needs of market participants, silos and trade finance banks across the pan-European marketplace. EIM is designed to provide a simpler and auditable workflow for all the system’s users and which supports a secure, fully transferable, pledgeable title of commodity ownership.
Nicholas Kennedy, Head of Commodities at Euronext, comments: “Sinara quickly engaged with our business and IT teams to deliver the initial system within a short timescale. The end result has been a system which is increasing in use amongst our client base, and which we expect will support the introduction of digital Euronext warrants for agricultural commodities users (brokers, clients, silos and banks) to facilitate the trading and financing of listed commodities.”
Sinara Director, Gary Hughes adds: “We are delighted to have developed this strategically important new IT system for Euronext. Sinara has long experience of building software systems for exchanges to help them launch new products and services to their members and clients. We understand the specific challenges of working with exchanges and how to meet the high quality and security standards for such systems.”