PHILADELPHIA — There are stock exchanges, commodity exchanges, precious metals exchanges, a cocoa exchange, among many. Now, there is a wine exchange, reports a management information systems journal.
The wine exchange, headquartered here, links more than 125 wine-and-brandy producing, selling, buying and shipping companies in 56 countries handling thousands of transactions a day, according to MIS Week.
A computerized system provides members with access to a central data bank, where they can determine immediately what wines are available on the international market and then sell or track orders as they are shipped.
Sellers list their wines in the database, which records thousands of wines by vintage, location, price, packaging and terms of sales.