TruMarx intro's biodiesel, RINs transaction capability on COMET

By TruMarx Data Partners Inc. | January 13, 2015

TruMarx Data Partners Inc., the creator of COMET, an on-demand platform for custom bilateral OTC transactions, announced the introduction of biodiesel and RINs transaction capability.

COMET now supports direct bilateral transactions for biodiesel and assigned RINs, separated D4 RINs, and RINless biodiesel (wet gallons). This new capability allows users to:

-Electronically and confidentially structure their transaction to include important product details such as quality, certification, blend, facility info, delivery details, Q-RIN designation, QAP provider, etc.

-Publish the structure to any prescreened COMET counterparts via a one-to-many request for price.

-Negotiate the terms of the transaction via multiple one-to-one confidential negotiations until the originator accepts or rejects a particular transaction.

-Receive an automated transaction confirmation with full transaction details.

-Generate a comprehensive transaction audit trail to help meet a variety of audit and regulatory compliance standards.

“We are excited to introduce this new biodiesel transaction capability for COMET,” said Jon Olson, founder, president and CEO. “It will allow active traders in this important energy category to enjoy the tremendous benefits that COMET provides. Our customers have asked for this platform and we are excited to deliver.”

A wide variety of benefits are provided to users by the new biodiesel/RINs capability on COMET such as:

-Reduction of fraudulent transaction concerns.

-Increased market transparency.

-Increased market scope.

-Automated marketplace for self-service price discovery.

-Online and on-demand access.

-Robust audit trail.

-Ease of use.

More information on the new biodiesel/RINs capability for COMET is available on the company’s website.

USDA: US biodiesel exports at 81,132 metric tons in June