InstaNext, a premier provider of cloud-hosted commodity trading and risk management solutions, announced today that Darigold, one of America’s largest dairy co-ops, has licensed the InstaNext software to manage the hedging activities of their commodity producers and to facilitate their operational processes.
Headquartered in Seattle, Washington, Darigold is both consistently a top-selling brand as well as one of the world’s largest agricultural cooperatives, processing the equivalent of more than 2.3 million gallons of milk per day. The company has been farmer-owned since 1918 and currently represents nearly 500 family farms across the Northwest, which includes producers of milk, butter, sour cream, cottage cheese and other dairy products for institutions, the food industry and family dinner tables around the world reaching 21 countries.
Prior to licensing InstaNext, Darigold was using an antiquated system with technology and functionalities that could no longer support their operational needs. With InstaNext’s ability to capture futures & options trades directly through an upload from their brokers and manage the closing of trades across multiple broker accounts for numerous producers, Darigold will eliminate re-keying and the possibility of manual entry errors. The InstaNext software will enable Darigold to easily capture accumulator swaps, commodity swaps, and exotic options and view their mark to market based on current market prices. Darigold will also use the CTRM solution to manage their producers’ hedging accounts through a broker statement that allows them to reconcile their P&L and balance.
“Darigold was utilizing a legacy risk system which was expensive, difficult to maintain, and much of the processing was actually done outside that system in spreadsheets,” stated EVP Global Field Operations, Richard Kulaszewski. “We were able to bring their costs down considerably, while providing more capabilities inside the InstaNext system, and on later technology that allows for the movement back and forth through time.”
InstaNext is comprised of a team of software and technology experts in the fields of commodity trading, hedging, and risk management. With an extensive portfolio of prior successes in the CTRM industry, InstaNext provides intuitive solutions to help companies meet the challenges of the complex commodities world. The InstaNext platform simplifies every aspect of commodity trading and risk management. The multi-market platform allows companies to analyze their positions in real-time via its powerful analysis capabilities. With InstaNext, historical and scenario-based data can be used to compare current positions against changes in the market, allowing for more effective management of portfolio risk and ensuring profit margins are secure. Using the latest cloud-hosted technology, InstaNext can be implemented quickly and with low risk.
For more information please visit our website at www.instanext.com.