Liv-ex is expanding to take advantage of a growing fine wine market and increased demand for our data, trading and settlement services.
We have already launched several new features in the last year, such as Wine Matcher, our award-winning machine learning tool for the wine trade, and have several other exciting developments planned.
Transactions on the market, the number of wines traded and customer engagement continue to grow at double digit rates. Liv-ex has also expanded its data and settlement services in recent years and seen strong uptake in overseas markets. To manage this increased demand, improve the level of customer service and expand the size of our network, Liv-ex intends to double the sales team by the middle of 2019.
Changes in technology
We also plan to replace our existing trading, information and settlement platform with the latest technology. This will allow us to take advantage of all the benefits that modern architecture allows and speed up Liv-ex’s diversification into web services. This year, we will launch a new mobile friendly website and trading application. All services (APIs) that Liv-ex builds to support its new platform will be made available to customers to enable them to build Liv-ex services into their own systems and websites.
In addition, we will be seeking to make better use of our market leading price data to deliver a more personalised service, expand the range of opportunities on our trading platform and make new value added market insights available to customers.
Logistics and settlement expansion
In 2018 we will also be expanding the frequency of our settlement services to support growing trade on the platform. We will be collecting weekly from customers in France, Belgium, Holland, Germany, Austria and Switzerland. We will also be introducing new services in Italy. All services are provided on a per unit basis with no minimum, dramatically lowering the cost of fulfilling fine wine transactions. Liv-ex also offers a weekly delivery service to members in Bordeaux and Hong Kong.
These new initiatives will require substantial new investment in sales, data, technology and logistics. We have already welcomed several talented people into new positions, and will continue to hire over the coming months.
Our current openings include:
- Ecommerce/Data Analyst
- Data Content Administrator
- Software Architect
- Business Analyst
- Operations Analyst
For further details and information on how to apply, please visit our careers page.
by Liv-ex MD James Miles.