Trading begins on FreightWaves' Trucking Freight Futures Market
We told you Craig Fuller and FreightWaves' story recently on Making History.
FreightWaves is a data company. It has a news operation and now a Trucking Freight Futures market.
"The success we've had over the past year has been shocking to us," FreightWaves' CEO Craig Fuller said.
Friday moring FreightWaves launched a Freight Futures Market on the Nodal Exchange.
Before the launch Fuller gave a speech and said he didn't know when they would see the first trade. but they didn't have to wait long. The first trade happened ... Just about 17 minutes after the launch .
"Freight transportation is 12% of global GDP," Fuller said. "Consumer transportation is twice the size of that. So you're talking about an industry that is 24% of GDP. We at FreightWaves are providing news and analytics to inform those companies about what is happening."
We will have more on FreightWaves next week on Making History.