Sydney Fish Market (SFM) has signed a landmark agreement with ShoreTrade to deliver a digital trading platform that will serve the seafood industry in Australia and New Zealand.
Establishing a digital trading platform has been at the core of SFM’s company strategy for nearly two years, over which time we have been working tirelessly to grow our team, consult with stakeholders and undertake due diligence to determine the best technology to see the platform come to fruition.
SFM will hold an exclusive license in the fisheries sector to ShoreTrade’s award-winning technology in Australia and New Zealand. The platform will complement the Market’s benchmark physical auction, which is set to be vastly upgraded when the new SFM building on Blackwattle Bay opens in 2024.
SFM’s digital trading platform will be the preeminent online B2B seafood sales channel, combining ShoreTrade’s award winning technology with Australia’s leading traditional seafood market. SFM will leverage the platform to increase our footprint beyond the physical constraints of a predominantly Sydney-based buying group to a vastly expanded buyer base.
Once finalised, the platform will provide SFM’s suppliers with a 24/7 trading option, with increased price visibility and stability, certainty of payments via settlement guarantees, and many more benefits. The platform will also integrate with the Department of Primary Industries, in a move which we hope will reduce the reporting requirements of fishers.
Sydney Fish Market looks forward to sharing further updates with stakeholders as the platform progresses.
If you would like to register your interest in becoming a user of the platform, please fill in the below form, and we will be in touch with you shortly.