Bosenet was given the task of developing a highly secure ecommerce portal that wine traders would want to use across the globe.
They had to create an environment where members could trade anonymously with each other, allowing for levels of discretion and price discovery not achievable elsewhere.
The site would also have to give members access to the very latest price and market information, including new offers, trends and other developments.
A highly complex project, Bosenet created Exchange Trading, Liv-ex’s central ecommerce trading platform.
Surja Bose comments, “We created an order matching system, similar to those we have developed for other electronic commodity markets. We tailored this platform to allow for maximum flexibility, allowing wine dealers to trade in everything from old and rare bottles to ‘en primeur’.
We’ve allowed Trading members to manage, monitor and execute trades online from any PC wherever they are based.
We have also developed a platform where Members can auction single products or parcels of stock to achieve the best price, whether it is for very rare and sought after items or simply excess inventory.
Liv-ex asked us to put the technology behind their anonymous online settlement service. This reduces risk and centralises billing, credit control and collection. Traders can deal with an entire range of counter parties from a single account and track aspects of their fulfilment and payment on-line.”
Liv-ex now counts many of the world’s leading trade buyers and sellers of fine wine amongst its membership. Liv-ex provides price and market information as a complimentary service to its trading members. They track over 90% of merchant stocks in the UK and more, enabling traders and merchants to check current market prices and availability online.
“We have used Bosenet as our technology partner since our inception in the Summer of 1999. The partnership has allowed us to outsource this important part of our business in a cost effective manner without having to employ a large (and highly paid) full time IT team in-house.
Bosenet has allowed us to benefit from their technical know-how and to maximise our internal resources on marketing and sales, freeing up management time to concentrate on growing the business.”
James Miles, Managing Director, Liv-ex