Matribhumi Samachar English
Jay TechnoChem, a pioneering technology startup dedicated to advancing the chemical industry through innovative solutions,has announced the launch of its chemical trading platform CHEMAXE in August 2024. This state-of-the-art platform is set to transform the chemical trading industry by addressing its longstanding inefficiencies and challenges.
CHEMAXE : Trade Live, Trade smart
Founded with a mission to integrate cutting-edge technology into chemical trading, Jay TechnoChem develops platforms, applications, and services designed to be the go-to resources for all information related to chemical trading and the broader industry. It has a vision to lead the way in technological innovation within the chemical sector, fostering a more efficient, accessible, and advanced industry for all stakeholders.
CHEMAXE exemplifies their commitment to revolutionizing the chemical trading landscape. Unlike conventional digital platforms, CHEMAXE will offer a comprehensive, live trading experience. It will use advanced algorithms to match buyers and sellers based on specific product requirements, ensuring efficient transactions and real-time price updates. This platform will address significant challenges faced by the chemical trading industry, which is often fragmented and unorganized. Traditional methods require excessive time for inquiries, negotiations, and networking, which is both stressful and inefficient. CHEMAXE is designed to enhance trust through transparent pricing and secure transactions, allowing buyers, sellers, and traders to develop better strategies and maximize deal value.
The initial concept for CHEMAXE emerged from the extensive experience of the Co-founder and Director of Jay TechnoChem, Mr. Ashok Lakhani, who has spent over 25 years navigating the complexities of the chemical trading industry. Driven by his ambition to create a better future for the next generation of traders, Mr. Lakhani dedicated over a decade to develop a solution that would provide accurate insights into chemical prices and improve the trading experience. His son, Mr. Jay Lakhani, joined the venture, bringing fresh perspectives and innovative ideas. Together, they began conceptualizing the platform in early 2023, and after approximately seven months of refining the blueprint, the development of CHEMAXE commenced in September 2023.
What sets CHEMAXE apart is its innovative use of advanced algorithms and real-time updates. The platforms unique LTP (Last Traded Price) model guarantees that market prices remain tamper-proof, updating solely through organic trading activity. This mechanism enhances pricing fairness and significantly diminishes the impact of third-party influences. Additionally, CHEMAXE offers real-time trading and management tools, empowering users to respond swiftly to market conditions and refine their trading strategies. These distinctive features are poised to propel market growth and drive overall industry advancement.
As the launch approaches in the coming months, Mr. Ashok Lakhani, Co-Founder and Director of Jay TechnoChem, shared his thoughts on the CHEMAXE project, “Throughout my decades in the chemical trading industry, I have seen the markets potential hindered by outdated methods and inefficiencies. CHEMAXE is our answer to these longstanding issues. By providing real-time trading, transparent pricing, and in-depth market information, we aim to empower traders and set a new standard for the industry. Our mission is to transform chemical trading into a seamless and efficient experience for everyone involved.”
While their current focus is on the successful market introduction and launch of CHEMAXE, Jay TechnoChem is committed to continuous upgrades and improvements in user experience. Future plans include expanding their services to international markets and implementing alternate trading methodologies, establishing CHEMAXE as the centralized hub for all chemical trading activities worldwide.
In addition to CHEMAXE, Jay TechnoChem has an array of upcoming models in development, each aimed at addressing various segments of the chemical industry. These future projects will be unveiled in stages, further cementing Jay TechnoChem’s commitment to lead technological advancement within the chemical sector.
After presenting a preview of CHEMAXE to their advisory panel, the response was overwhelmingly positive. Many industry leaders hailed the platform as the future of chemical trading. There is no doubt that CHEMAXE will revolutionize the sector. It’s only a matter of time before it becomes synonymous with all things chemical.
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