NYSHEX Announces First Close of Series C Funding Round Led by Collate Capital, Collaborating with ICE to Launch New Freight Rate Indices
NYSHEX announces the first closing of its Series C funding round, led by Collate Capital, with participation from existing investors including Goldman Sachs Alternatives, NewRoad Capital, and Blumberg Capital. Intercontinental Exchange (NYSE:ICE) joins as a strategic investor and collaborator. The partnership aims to launch new freight rate indices in 2025, with ICE serving as the calculation agent. NYSHEX will develop indices based on actual cargo moving rates, governed by industry representatives, and freely available for carriers, shippers, and NVOCCs. The collaboration includes technology development to facilitate index-linked contract administration.
NYSHEX annuncia la prima chiusura del suo round di finanziamento di Serie C, guidato da Collate Capital, con la partecipazione degli investitori esistenti tra cui Goldman Sachs Alternatives, NewRoad Capital e Blumberg Capital. Intercontinental Exchange (NYSE:ICE) si unisce come investitore strategico e collaboratore. La partnership ha l'obiettivo di lanciare nuovi indici di tariffe di trasporto nel 2025, con ICE che funge da agente di calcolo. NYSHEX svilupperà indici basati sui tassi di movimentazione delle merci attuali, governati da rappresentanti del settore, e liberamente disponibili per vettori, spedizionieri e NVOCC. La collaborazione include lo sviluppo di tecnologie per facilitare l'amministrazione dei contratti legati agli indici.
NYSHEX anuncia el primer cierre de su ronda de financiación de Serie C, liderada por Collate Capital, con la participación de inversores existentes como Goldman Sachs Alternatives, NewRoad Capital y Blumberg Capital. Intercontinental Exchange (NYSE:ICE) se une como inversor estratégico y colaborador. La alianza tiene como objetivo lanzar nuevos índices de tarifas de flete en 2025, con ICE actuando como agente de cálculo. NYSHEX desarrollará índices basados en las tarifas reales de transporte de mercancías, gobernados por representantes de la industria, y estarán disponibles de forma gratuita para transportistas, remitentes y NVOCC. La colaboración incluye el desarrollo de tecnología para facilitar la administración de contratos vinculados a los índices.
NYSHEX는 Collate Capital이 주도하는 C 시리즈 자금 조달 라운드의 첫 번째 마감을 발표하며, Goldman Sachs Alternatives, NewRoad Capital, Blumberg Capital과 같은 기존 투자자가 참여했습니다. 인터콘티넨탈 익스체인지 (NYSE:ICE)는 전략적 투자자이자 협력자로 합류합니다. 이 파트너십의 목표는 2025년에 새로운 화물 요금 지수를 출시하는 것이며, ICE는 계산 대행자로 역할을 합니다. NYSHEX는 업계 대표들에 의해 관리되는 실제 화물 이동 요금을 기반으로 지수를 개발하며, 운송업체, 발송인 및 NVOCC에 자유롭게 제공될 것입니다. 협력에는 지수 연동 계약 관리를 용이하게 하기 위한 기술 개발이 포함됩니다.
NYSHEX annonce la première clôture de son tour de financement de Série C, dirigé par Collate Capital, avec la participation d'investisseurs existants tels que Goldman Sachs Alternatives, NewRoad Capital et Blumberg Capital. Intercontinental Exchange (NYSE:ICE) rejoint en tant qu'investisseur stratégique et collaborateur. Le partenariat vise à lancer de nouveaux indices de tarifs de fret en 2025, avec ICE agissant en tant qu'agent de calcul. NYSHEX développera des indices basés sur les taux de mouvement de marchandises réels, régis par des représentants de l'industrie, et librement accessibles aux transporteurs, expéditeurs et NVOCC. La collaboration comprend le développement technologique pour faciliter l'administration des contrats liés aux indices.
NYSHEX kündigt den ersten Abschluss seiner C-Rundenfinanzierung an, die von Collate Capital geleitet wird, mit der Teilnahme bestehender Investoren wie Goldman Sachs Alternatives, NewRoad Capital und Blumberg Capital. Intercontinental Exchange (NYSE:ICE) tritt als strategischer Investor und Partner bei. Die Partnerschaft zielt darauf ab, im Jahr 2025 neue Frachtpreisindizes einzuführen, wobei ICE als Berechnungsagent fungiert. NYSHEX wird Indizes entwickeln, die auf den tatsächlichen Frachtbewegungsraten basieren, die von Branchenvertretern verwaltet werden und für Spediteure, Versender und NVOCCs kostenlos verfügbar sind. Die Zusammenarbeit umfasst die technische Entwicklung zur Erleichterung der Verwaltung von indexgebundenen Verträgen.
- Strategic investment and partnership with ICE (NYSE:ICE), a major exchange operator
- Successful closing of Series C funding round with participation from major existing investors
- Planned launch of new freight rate indices in 2025 with ICE as calculation agent
- Development of supporting technology for index-linked contract administration
- None.
Insights
The strategic collaboration between NYSHEX and ICE represents a significant development in the shipping industry's financial infrastructure. The Series C funding and ICE's participation as both investor and calculation agent for new freight rate indices positions ICE to capture additional revenue streams in the
The partnership could generate substantial recurring revenue through index licensing and related services. ICE's involvement adds credibility to NYSHEX's indices, potentially accelerating market adoption and creating new opportunities for derivative products. The timing is strategic, as the shipping industry seeks better tools to manage rate volatility following recent market disruptions.
This partnership addresses a critical gap in the container shipping market - the lack of reliable, transaction-based rate indices. Current indices often rely on survey data or quoted rates rather than actual transaction prices. By leveraging NYSHEX's digital contracting platform and ICE's market infrastructure expertise, the new indices will provide more accurate price discovery and risk management tools.
The collaboration's timing is optimal as the industry shifts toward index-linked contracts. The free availability of these indices to carriers, shippers and NVOCCs could drive rapid adoption and establish NYSHEX/ICE as the industry standard for rate benchmarking, potentially leading to significant market share in the growing freight derivatives market.
As part of the collaboration, NYSHEX will launch a series of freight rate indices in 2025, with ICE serving as the calculation agent for these indices. ICE’s expertise in global markets will further enhance the credibility and reliability of the NYSHEX indices.
Gordon Downes, CEO and co-founder of NYSHEX, expressed his enthusiasm for the collaboration and funding round, saying, “We are delighted to have completed the first close of our Series C and to welcome ICE as a shareholder. Our collaboration with ICE and the additional capital allows us to expand upon our services. Firstly, we will launch a new set of indices based on actual cargo moving rates, which will be transparently governed by industry representatives, and will be freely available for all carriers, shippers and NVOCCs to use for their index linked contracts. Secondly, we will launch supporting technology making it much easier for carriers, shippers and NVOCCs to administer their index linked contracts, regardless of which index their contracts are linked to.”
Zach Fields, an investor with Growth Equity at Goldman Sachs Alternatives, who led NYSHEX’s Series A and invested in NYSHEX’s Series B and C said, “as we see the container shipping industry moving toward index linked contracts, there is a growing need for ways to hedge the volatility of container spot rates. As we help our clients to manage their freight risk, we fully support NYSHEX in developing more robust indices that will benefit all shippers, carriers and NVOCCs.”
Stuart Williams, COO of ICE, echoed this sentiment, emphasizing ICE’s commitment to fostering efficiency in global markets: “The container shipping industry is vital for global trade, yet it remains an inefficient and volatile market. For over two decades, ICE has worked with our customers to develop a network of liquid and interconnected markets that provide the price transparency and risk management tools needed to manage evolving supply chain and geopolitical risks. We recently launched ICE Digital Trade (IDT) to support the global shipping industry, and our partnership with NYSHEX is a further step in that direction.”
The Series C funding round and the strategic collaboration with ICE position NYSHEX for accelerated growth and greater impact within the container shipping sector. By providing tools to manage market volatility through innovative indices, NYSHEX and ICE are poised to deliver a new level of visibility and efficiency for the industry.
Mark Weaver, Managing Partner at Collate Capital, the lead investor, commended NYSHEX's execution and strategic vision: “We are very impressed with how NYSHEX has delivered on their strategy and with the influential role they play in the container shipping industry. The forthcoming NYSHEX indices, coupled with the involvement by ICE, mark an exciting development that will serve both NYSHEX’s members and the industry at large.”
About NYSHEX
The New York Shipping Exchange (NYSHEX) was founded in 2015 to solve the problem of poor contract fulfillment caused by misaligned incentives and disconnected execution. This results in
NYSHEX’s Proactive Performance Management (PPM) technology helps users to jointly manage allocations and plans, and to be alerted in real time when any shipment goes off plan. The NYSHEX indices make it easier for everyone to use contracts linked to an index, which removes a carrier’s incentive to curtail allocations when spot rates rise above contract rates, and a shipper’s incentive to shift volumes when spot rates drop below contract rates.
About ICE
Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks that connect people to opportunity. We provide financial technology and data services across major asset classes helping our customers access mission-critical workflow tools that increase transparency and efficiency. ICE’s futures, equity, and options exchanges – including the New York Stock Exchange – and clearing houses help people invest, raise capital and manage risk. We offer some of the world’s largest markets to trade and clear energy and environmental products. Our fixed income, data services and execution capabilities provide information, analytics and platforms that help our customers streamline processes and capitalize on opportunities. At ICE Mortgage Technology, we are transforming
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NYSHEX Media Relations
Kristin Langdon, kristin.langdon@nyshex.com
Source: New York Shipping Exchange
FAQ
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