Turkish Mercantile Exchange
Electronic-warehouse-receipt trading platform for agricultural commodities
Description
TÜRİB is an electronic-warehouse-receipt (EWR) trading platform established to facilitate trading of stored agricultural commodities in Türkiye. The platform enables producers, warehouse operators and traders to convert stored agricultural goods into tradeable digital receipts, thus aids in improving liquidity, transparency, storage management, and enabling commodity financing and trade operations in a regulated and efficient marketplace. The website also provides information about timely prices for electronic warehouses.
Technology
TÜRİB operates via a web-based trading and data dissemination platform, supported by a robust IT backbone that facilitates issuance, transfer and settlement of EWRs, market data and price indices, licensed-warehouse management integration and automated data feeds. The platform provides dashboards, data feeds and bulletin services for market participants, including price bulletins, commodity-specific trading data and commodity-price indices.
Target
TÜRİB targets agricultural producers and farmers, warehouse operators, commodity traders and intermediaries, and public-sector or private-sector stakeholders involved in agricultural commodity trading, storage, financing and supply-chain operations. The solution serves both small and large actors across the agri-commodity value chain in Türkiye.
Business model
TÜRİB operates on a fee-for-service and data-monetization model including transaction fees that are applied for issuance, transfer and trading of EWRs, licensed warehouse usage incurred fees and data dissemination services, which are monetized via subscription or licensing for vendors and third-party users.
Impact
Since its launch in 2019, TÜRİB has created a regulated platform enabling storage-backed trade of numerous agricultural commodities such as grains, pulses, oilseeds, nuts, dried fruits, among others, aiming to improve market transparency and liquidity in Türkiye.
Partners
The Union of Chambers and Commodity Exchanges of Turkey; Ministry of Trade, Republic of Türkiye; Ministry of Agriculture and Forestry; Ministry of Treasure and Finance, Republic of Türkiye; Istanbul Settlement and Custody Bank; Central Securities Depository
Four Betters
Better production
Better life
