CRA’s Dairy Trading Platform Achieves Milestone of 10 Million Metric Tons Transacted
BOSTON, June 20, 2023--(BUSINESS WIRE)--CRA International, Inc. (NASDAQ: CRAI), a worldwide leader in providing economic, financial, and management consulting services, today announced that cumulative transactions on its auction-based trading platform for internationally traded dairy products (Global Dairy Trade) have surpassed 10 million metric tons sold with more than $34 billion transacted.
"Our clients rely on CRA to help maximize the value of their assets and products, and to minimize procurement costs," said Brad Miller, CRA’s Vice President and Auctions & Competitive Bidding Practice Leader. "The success of our innovative trading platforms reflects the experience, expertise, and dedication of our Auctions & Competitive Bidding practice team."
CRA developed the platform and managed the first trading event in July 2008. Since then, CRA has managed 334 dairy trading events to date. The twice-monthly trading events are conducted using CRA’s Trading System for Efficient Markets (TSEM™), which also is used to conduct smaller dairy auctions in the weeks that larger trading events do not take place.
Since 1995, CRA’s auction and marketplace designs and trading platforms have been used for approximately 1,000 auctions and other competitive bidding processes. The industries served include dairy, fruit, wool, electricity, natural gas, environment, telecommunications, and intellectual property assets. CRA’s TSEM and systems are customizable for a variety of bidding formats, including ascending-price and descending-price clock auctions, simultaneous multiple-round auctions, combinatorial auctions, hybrid auctions, RFPs, and one-shot sealed-bids.
About CRA International, Inc. and its Auctions & Competitive Bidding Practice
CRA is a global consulting firm specializing in litigation, regulatory, financial, and management consulting. 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, Twitter, 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.
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Nicholas Manganaro
Sharon Merrill Associates, Inc.
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