CRA International Announces Launch of New NFX Trading Platform for Natural Fibre Exchange International

Rhea-AI Summary

CRA International (NASDAQ: CRAI), also known as Charles River Associates, has launched an enhanced trading platform for the Natural Fibre Exchange (NFX). The NFX platform, previously to domestic wool sales, now supports international transactions, unveiled at the June 24 trading event where nearly 90% of lots sold successfully. The platform aims to attract more global participants through a direct marketing campaign later this year. CRA Vice President Brad Miller highlighted the platform's role in providing credible prices and reliable information. CRA has conducted over 150 bi-weekly NFX trading events since 2018, similar to its other agricultural trading platforms.

Positive

• Launch of enhanced international trading platform for NFX.
• Nearly 90% of lots sold successfully at the June 24 event.
• Planned global marketing campaign to attract more participants.
• CRA has completed over 150 bi-weekly NFX trading events since 2018.

Negative

• None.

BOSTON--(BUSINESS WIRE)-- CRA International, Inc. (NASDAQ: CRAI), doing business as Charles River Associates (CRA), a worldwide leader in providing economic, financial, and management consulting services, today announced the launch of its newly enhanced and expanded trading platform for the Natural Fibre Exchange (NFX). To date, the NFX platform has been used for domestic sales of wool. The platform now facilitates the international selling and buying of wool and was unveiled at the June 24 NFX trading event, where nearly 90 percent of the lots on offer sold successfully. NFX is planning a direct global marketing campaign for later in the year to attract more international sellers and buyers.

“We are proud to be working with the Natural Fibre Exchange, industry leaders in wool and other natural fibers, and since 2018 have been providing an efficient online platform that benefits both sellers and buyers,” said Brad Miller, CRA Vice President and Auctions & Competitive Bidding Practice Leader. “Similar to CRA’s other trading platforms for agricultural products, including Global Dairy Trade, our NFX auction platform is a trusted selling and buying marketplace that discovers credible prices and reliable information in the industry.”

CRA operates bi-weekly NFX trading events, having completed more than 150 through June 2024. All products in a trading event are on offer simultaneously over multiple rounds of bidding, continuing until there is a round with no new bids.

About NFX

The Natural Fibre Exchange (NFX) is an online trading platform designed to provide trusted, transparent, and credible reference prices for wool and other natural fibre products. Launched in 2018, the NFX platform was initiated by Wools of New Zealand and CRA International as an open, multi-seller trading platform. Through the NFX platform, sellers gain access to a pool of buyers, and buyers gain access to a single shop-front where they can compare products and pricing of participating sellers. As a result, buyers and sellers can be confident they are transacting at independently established market-based prices. By establishing credible market-based prices, the platform provides industry participants with reference price information that improves the efficiency of the natural fibre marketplace. For more information or to register, visit www.naturalfibreexchange.com.

About CRA International, Inc. and its Auctions & Competitive Bidding Practice

CRA is a global consulting firm specializing in economic, financial, and management consulting services. CRA advises clients on economic and financial matters pertaining to litigation and regulatory proceedings, and guides corporations through critical business strategy and performance-related issues. Since 1965, clients have engaged CRA for its unique combination of functional expertise and industry knowledge, and for its objective solutions to complex problems. Headquartered in Boston, CRA has offices throughout the world. Detailed information about Charles River Associates, a registered trade name of CRA International, Inc., is available at www.crai.com. Follow us on LinkedIn, Instagram, and Facebook. CRA’s Auctions & Competitive Bidding Practice offers businesses, governments, bidders, and other market participants extensive experience in auction and market design, implementation, monitoring, and participation. More information about CRA’s Auctions & Competitive Bidding Practice is available at www.auctions.crai.com.

SAFE HARBOR STATEMENT

Statements in this press release concerning the launch of CRA’s new Natural Fibre Exchange (NFX) platform and any future business that it, or any other proprietary CRA trading platform, may generate for CRA, creditability of pricing, reliability of information, improved efficiencies and similar phrases are “forward-looking” statements as defined in the Private Securities Litigation Reform Act of 1995. These statements are based upon management’s current expectations and are subject to a number of factors and uncertainties. Information contained in these forward-looking statements is inherently uncertain, and actual performance and results may differ materially due to many important factors. Such factors that could cause actual performance or results to differ materially from any forward-looking statements made by CRA include, among others: the failure to generate engagements for us; the potential loss of clients; the demand environment; global economic conditions; foreign exchange rate fluctuations; and intense competition. Additional potential factors that could affect our financial results are included in our periodic filings with the Securities and Exchange Commission, including those under the heading “Risk Factors.” We cannot guarantee any future results, levels of activity, performance, or achievement. We undertake no obligation to update any forward-looking statements after the date of this press release, and we do not intend to do so.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240711286976/en/

Media Relations

CRA International

media@crai.com

617-425-6453

Nicholas Manganaro

Sharon Merrill Advisors

crai@investorrelations.com

617-542-5300

Source: CRA International, Inc.

FAQ

What new feature did CRA International add to the NFX platform?

CRA International added support for international transactions to the NFX platform.

When was the enhanced NFX trading platform unveiled?

The enhanced NFX trading platform was unveiled at the June 24 trading event.

How successful was the NFX trading event on June 24?

Nearly 90% of the lots on offer were sold successfully at the June 24 NFX trading event.

What is CRA International's stock symbol?

CRA International's stock symbol is CRAI.

What has CRA completed over 150 times since 2018?

CRA has completed over 150 bi-weekly NFX trading events since 2018.

What is the focus of CRA's upcoming marketing campaign for NFX?

CRA's upcoming marketing campaign for NFX focuses on attracting more international sellers and buyers.