DAT, TransVix partner to offer rate futures for spot market

DAT-spot-rates-national-March31-2016

In an effort to ease pricing and capacity fluctuations for rates on the spot market, DAT Solutions and TransVix have partnered to create a Trucking Futures Exchange – currently expected to go live in the third quarter of this year, according to an article by Logistics Management â€“ that will list and trade future rate exchanges based on DAT’s existing data on lanes and pricing.

The TransVix Exchange will allow carriers, shippers and brokers to buy and sell rate futures to help eliminate some of the spot market’s volatility, TransVix says. The company adds that rates and capacity can fluctuate by as much as 40 percent in a one-week period based on a variety of market conditions such as weather, fuel prices and more.

The Exchange, which will use DAT’s data to develop the futures, will allow shippers – and carriers, to an extent – to normalize some of the week-to-week fluctuation in rates, TransVix says.