Amercanex
 Amercanex logo | |
| Industry | Commodities exchange |
|---|---|
| Founded | 2014 |
| Fate | Acquired by Helix TCS |
| Headquarters | |
Key people | Steve Janjic, CEO |
| Website | amercanex |
Amercanex was a Denver, Colorado-based company founded in 2014[1] that created an electronic commodities exchange for cannabis.[2][3] The company bought and sold cannabis futures, depending on standardization of grades and even nomenclature around strains.[4] The platform, ACExchange, built with the Dodd-Frank Act in mind, included transparent pricing, reporting, RFID plant tracking and back office functionalities that enabled compliance with Securities Exchange Commission regulations.[5] The CEO, Steve Janjic,[1] was formerly involved in the foreign exchange market working at TP ICAP.[6][7][8] Richard Schaeffer, former chairman at NYMEX served as Chairman of Amercanex, was joined by Thomas Ross as board member, former head of trading at BP North America.[3]
By 2016, the company was trading between 100 to 150 pounds of marijuana per week. Efforts to expand further were hampered by the cannabis remaining federally illegal in the United States, which prevented trade across state lines.[3] The company unsuccessfully bid to operate Puerto Rico's seed-to-sale medical cannabis tracking system in 2016.[9]
In February 2019, the company was acquired by Helix TCS, joining that company's portfolio of cannabis exchange platforms which includes Cannabase and BioTrackTHC.[10][11]
References
[edit]- ^ a b Company profile, Bloomberg, April 26, 2017
- ^ Brian Lewis (March 12, 2016), Wall Street veterans bet on cannabis trading, Bloomberg – via Providence Journal
- ^ a b c Portia Crowe (March 7, 2016), "There's a new exchange for weed, and Wall Street veterans are flocking to it", Business Insider
- ^ Steve Knopper (April 19, 2017), "Inside the Confusing, Unregulated World of Legal Weed Prices", Money, archived from the original on April 20, 2017
- ^ "Amercanex – Summary". Amercanex. Archived from the original on 2018-09-29. Retrieved 2025-04-11.
- ^ Avi Mizrahi (March 24, 2014), "Steve Janjic Joined Chapdelaine FX as the New Director of Sales", Finance Magnates
- ^ Jeff Patterson (September 26, 2014), "Amercanex's Steve Janjic Talks Cannabis", Finance Magnates
- ^ Louis, Brian (2016-03-07). "Some Wall Street Vets Are Betting On a Weed Exchange". Bloomberg.
{{cite web}}: CS1 maint: url-status (link) - ^ John Schroyer (September 21, 2016), "Puerto Rico inventory tracking system deal embroiled in dispute", Marijuana Business Daily
- ^ Graham, Patrick M. (2019-09-12). "Helix TCS finalizes acquisition of Amercanex, a B2B wholesale marketplace that leverages blockchain technology". Proactiveinvestors UK. Retrieved 2025-04-09.
- ^ "Helix TCS Buys Cannabis Electronic Trading Platform | Market Exclusive". 2019-02-12. Retrieved 2025-04-09.
External links
[edit]- Former official website at the Wayback Machine (archived 2018-07-23)
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