CHICAGO, Jan. 05, 2021 (GLOBE NEWSWIRE) -- A group of industry veterans and early-stage investors today announced the formation of Global Smart Commodity Group LLC., a groundbreaking new commodity exchange. GSCG has also announced the rollout of Phase 1 of their Exchange platform for trading in a beta environment.

GSCG plans on delivering a price discovery mechanism through an enhanced exchange trading platform utilizing blockchain technology, Smart Contracts, and digital assets. Furthermore, GSCG announced that it is committed to offer trading on its platform that is focused on sustainable, socially conscious products which meet the needs not only for today, but for the economy of tomorrow.

“Aside from the migration from floor to screen, the capital markets haven’t seen significant changes in the way we trade, settle and clear markets for generations,” says Jack Bouroudjian, Chairman of GSCG. “GSCG will introduce a new type of exchange which can harness the power of blockchain technology in a way which will disrupt and enhance both price discovery and supply chain management.” He continued, “We believe the time is right for GSCG to bring the right idea, to market, and we have the right team in place to bring that about. What we are doing with Smart Contracts, tokenized settlement and blockchain technology will set the stage for the evolution of spot and derivatives exchanges around the world.”

Bouroudjian is the former President of Commerzbank Futures and three-term member of the Board of Directors of the CME Group. While on the Board at CME Group, he was instrumental in the creation of futures and options for the Midcap 400, Russell 2000, GSCI and the entire E-Mini concept.

GSCG has appointed Robert Alberghine as CEO. Alberghine, a former hedge fund manager with over 25 years in trading and creating liquidity said, “I am overly excited to be working with Jack and the team to create a platform which will provide the industry with cutting edge technology for the spot and derivatives markets. As a career trader, I have an appreciation of what is necessary to build an effective marketplace and optimal platform functionality.” Alberghine added, “The processes which we are building for the trading community will enhance central price discovery utilizing blockchain technology to deliver all the vital data on a ‘single source of truth’.”

About GSCG:

Global Smart Commodity Group is a spot commodity exchange founded in 2019. We use blockchain technology and tokenized settlements to list socially conscious and sustainable commodities up on our platform. Based in Chicago, we are able to create a global market of products for the next generation.

Please visit us at smartcommoditygroup.com

Feel free to contact us at info@smartcommoditygroup.com or 888-312-4724 if you would like more information.  

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