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Inspectron, a global leader in document integrity, inspection and verification systems, has been selected by the global commodity exchange for nanomaterials, INSCX™ exchange, to deliver a web-based track and trace solution to actively monitor the full lifecycle of exchange-traded nanomaterial cargoes, in line with commercial and regulatory requirements.
Inspectron's NanoTraq™ solution is available exclusively to INSCX™. By using the unique 'Exchange transaction ID', it will enable the exchange to track and trace every step in the international handling of nanomaterials and nano-enabled commodities across the full lifecycle of an exchange trade - from sale to delivery and potentially even further. With the solution in place, INSCX™ will enable suppliers and manufacturers of nanomaterials using the exchange to achieve commercial and regulatory compliance. While satisfying both EU and international government agency regulations, NanoTraq also ensures conformance with requirements regarding the confidential referencing of trade data to the Exchange Broker of Records, as set out by the insurance industry.
As such, the track and trace system effectively integrates with other exchange procedures to provide a compliant, socially responsible commercial environment, which safeguards against any potential health, environmental and other risks nanomaterials may pose.
All nanomaterials currently manufactured or imported into the EU must be registered with the European Chemicals Agency (ECHA) and subsequently evaluated and authorised by an EU authority. Some hazordous materials must also be classified and labeled.
Gavin Leach, Director of Physical Operations at INSCX™ adds: "To facilitate industrial-scale trade in nanomaterials, our members need a global exchange which can help them underwrite and monitor the trade movement of nanomaterials throughout the supply chain. This, coupled with the core exchange function to provide an an open market system enabling price discovery, is essential in enabling the support of both capital investment and the insurance industry to flow in favour of nanomaterial producers. We chose to work with Inspectron to deliver a track and trace solution as they are known experts in managing highly secure documents. Their scalable and flexible NanoTraq solution, which capitalises on smart phone technology, will enable us to integrate a world class solution into our legacy platform in a short space of time. It also gives us peace of mind that future complexities and increases in volume can be easily accommodated."
Allan Harle, Chairman at Inspectron, comments: "By applying Inspectron's expertise in designing track and trace systems for government applications, branded products and pharmaceuticals, to the nanomaterial trade market, we have been able to bring a unique traceability solution to the nanotechnology industry. NanoTraq not only satisfies existing market requirements, but has the capability to adapt functionality as required to become the standard for future nanomaterial trading activites."
Inspectron (www.inspectron.com) is a global leader in document integrity, inspection and verification solutions. The company has over 25 years of experience in developing validation systems for use in multiple secure print applications for the public and private sector, and track and trace solutions to verify the movement of high-end branded merchandise and pharmaceuticals amongst others. Inspectron is an expert in its field, with the technical ability to provide customers with high tech solutions that improve business efficiency and product quality. Inspectron is based in the UK and operates globally with its international customer base.
About INSCX™ exchange
INSCX™ exchange is a self-regulating organisation [SRO] based in the UK cities of Stoke-on-Trent and Manchester providing an electronic trade platform specific to the listing of SHE accredited, inspected, insured and validated engineered nanomaterials, nano-enabled commodities and traditional commodities for physical delivery. Listed for trade are globally relevant contracts in nanomaterials based on Thematic class and traditional commodities ranging from minerals, inorganics to base energy and commodity polymers.
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