Digital Transformation Prize to Agricultural Commodity Indices of Turkish Mercantile Exchange
Agricultural Commodity Indices started to be published by Turkish Mercantile Exchange (TMEX) on July 14, 2021, are awarded the first prize due to their contribution to digital transformation of agricultural ecosystem in the “Future of Industrial Ecosystems” category in the contest organized in respect of digital transformation projects within the frame of IDC DX Summit 2021.
The summit held this year for the second time with the theme of “Rise of Digital Economy and New Agenda of Executives” is organized by International Data Corporation (IDC) offering market studies and survey counselling services on sector opportunities and trends in information technologies, telecommunication and consumer technologies fields in more than 110 countries. Indices are designed for measurement of price performance of a single agricultural commodity (Barley, Wheat, Corn) or a group of agricultural commodities (Grains) by using the trades effected in TMEX Electronic Warehouse Receipt (EWR) Market.
TMEX PRODUCT INDICES: PULSE OF AGRICULTURE AND COMPASS OF FARMERS AND INVESTORS
TMEX Agricultural Product Indices are by nature a series of new indicators that can be used for product performance measurements by our farmers, producers and stakeholders in food industry and finance sector wishing to get more information about price movements of agricultural products traded in the Exchange, and to be able to forecast and analyse the probable price changes and fluctuations more easily.
PRODUCTS COVERED BY INDEX: BARLEY, WHEAT, BREAD WHEAT, DURUM WHEAT, CORN, CORN 1ST CLASS, CORN 2ND CLASS AND CEREALS COMPOSITE INDEX
TMEX has started to publish Agricultural Product Indices with Wheat (with bread wheat and durum wheat sub-indices breakdown), Corn (with 1st class corn and 2nd class corn sub-indices breakdown) and Barley products and with TMEX Cereals Index composed of these products which have strategic importance and the highest liquidity for Turkey. Thus, our investors are enabled to use a single benchmark in following up the prices and to monitor the relations between the Turkish and global agricultural commodity markets.
TMEX Agricultural Product Indices basically allow the investors to get a snapshot of existing situation of TMEX EWR market in an easily understandable and transparent manner. The calculated TMEX Agricultural Product Indices are intended to be used in three different ways:
1. Investment Tool: Their transformability to different investment tools such as investment (mutual) funds and futures contracts, and
2. Benchmark: Their being a benchmark in comparison of performance of agricultural products and other investment tools, and
3. Indicator Tool: Their being an indicator of agricultural economic activity.
KEY BENEFITS PROVIDED BY TMEX AGRICULTURAL COMMODITY INDICES
- Determination of the principal direction of commodity markets in Turkey, and
- Representation in the broadest and most correct manner of the opportunities emerging in agricultural products for stakeholders engaged in agricultural activities through Turkey,
- Monitoring of the relations between the Turkish and global agricultural commodity markets, and
- Creation of comprehensive series of product indices (basic indicator, most liquid, composite product group and individual product indices), and
- Creation of a benchmark on the basis of main product by using prices occurring in different codes (ISIN) representing thousands of products exported by licensed warehouse operators, and
- Monitoring of prices and returns on investment of a product basket, and
- Easy representation on individual product basis of the prices occurring in different product classes on the basis of different geographical regions, and
- Application of a transparent methodology based on pre-announced rules, and
- Presentation of a high data quality and flexible data distribution alternatives.
PLATFORMS WHERE INDICES ARE PUBLISHED
- TMEX internet site: http://seans.turib.com.tr; http://www.turib.com.tr
- Data Distribution Companies: MATRIX and FOREX data distribution terminals symbols:
TMEX Barley Index
TMEX Wheat Index
TMEX Wheat Bread Index
TMEX Wheat Durum Index
TMEX Corn Index
TMEX Corn 1st Class Index
TMEX Corn 2nd Class Index
TMEX Cereals Index
Founded in June 2018, TMEX is engaged in exchange operations for trading of electronic warehouse receipts and of futures contracts on electronic warehouse receipts issued by licensed warehouse operators.
TMEX is working in collaboration with the Union of Chambers and Commodity Exchanges of Turkey (TOBB), T.R. Ministry of Trade, T.R. Ministry of Agriculture and Forest, T.R. Ministry of Treasure and Finance and other stakeholders in such fields and for such purposes as digitalization of food supply chain from field to fork, popularization and generalization of EWRs, development of contracted agriculture, and licensed warehouse operations.