Fort Worth-based TransVix LLC is working to provide a way to trade options and futures for the U.S. trucking industry.
The financial technology startup’s platform, TransVix Marketplace, is “one of the first trading platforms for the transportation industry,” according to D CEO.
“Most costs in trucking are fixed, but the price fluctuates,” TransVix CEO Craig Fuller told D CEO. “So you can take on a large contract, and if the market changes fast, you could be in a position where it bankrupts you.”
The company recently received $2 million from Hunt Technology Ventures to further develop its platform. It’s also applying to the U.S. Commodity Futures Trading Commission to become a designated contract market.
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