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1
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- a centralized trading platform
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2
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- Regularly scheduled internet auctions
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3
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- IMPROVED PRICING --- BEST BUYER
MEETS BEST SELLER
- IMPROVED LIQUIDITY
- BACKOFFICE AUTOMATION
- TRADE STANDARDS
- SETTLEMENT AND CLEARING
- DISPUTE RESOLUTION
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4
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5
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- STANDARDS FOR TRADE
- DETAILED CATTLE DESCRIPTION
- TABLES OF PREMIUMS AND DISCOUNTS
- DISCLOSED TRADE PARTNERS
- DELIVERY SCHEDULE
- LOT LISTING FOR REVIEW PRIOR TO SALE
- AUCTION TIME ESTIMATED FOR EACH LOT
- SALE DATE
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6
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- BUYERS MUST BE REGISTERED MEMBERS
- LOT AWARDED TO HIGHEST BIDDER
- 8 SECOND COUNT DOWN BEFORE SALE AWARD
- PASS OUT PENALTY FOR SELLERS
- IMMEDIATE CONFIRMATION OF PURCHASE
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7
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- EMAIL CONTRACTS TO BUYER AND SELLERS AT CONCLUSION OF SALE
- TRADE DOCUMENTS PRESENTED ELECTRONICALLY
- HANDS FREE DATA EXCHANGE
- EMAIL FINAL SETTLEMENT SHEET
- ELECTRONIC SETTLMENT AND CLEARING
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8
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- STATE OF THE ART FIREWALLS
- LOG IN AUTHORITIES ASSURE CONFIDENTIALITY
- FINANCIAL SETTLEMENT OCCURS THROUGH INSURED FDIC BANKS
- COMPLETE LOGS OF AUCTION BIDS AND BUYER AWARDS
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9
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- FREE MEMBERSHIP
- SIGN UP ON WEB SITE
- TERMS AND CONDITIONS OF SALE POSTED ON THE WEB SITE
- TRADING FEES WILL VARY ACCORDING TO THE AUCTION BUT WILL BE DISCLOSED
PRIOR TO SALE
- CREDIT CONFIRMATION
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10
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- MONEY FLOW IS TRANSPARENT
- ALL MONEY TRANSFERS WILL OCCUR USING AMERICAN CLEARINGHOUSE [ACH]
TRANSACTIONS
- MONEY WILL BE TRANSFERRED IN COLLECTED FUNDS
- NEXT BUSINESS DAY SETTLEMENT
- ALL ACCOUNTS WILL BE PROTECTED CUSTODIAL ACCOUNTS
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11
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