Welcome to the July 2016 Liv-ex newsletter
It has been quite a month: the bulk of major Bordeaux 2015 releases appeared in rapid succession, concluding with the release last Thursday of Le Pin. On Friday the shock of the UK referendum result saw wild swings in currencies and a surge in trade. One week on and exposure on Liv-ex has returned to levels of two weeks ago, while the Liv-ex Fine Wine 100 closed the month on 259.71, up 2.1% on May.
Vine delivery requirements: changes 4th July
Vine’s delivery requirements ensure the most efficient transfer process for all Vine customers. Over the past few months we’ve been working hard to improve the goods in service. We have increased the warehouse team to nine and the number of photo booths to four, whilst simultaneously streamlining processes to reduce the time taken to land your stock. This can now be done in 24 hours, meaning that wine is invoiced earlier and you are paid faster.
From Monday 4th July, this investment will be fully operational. Please ensure that your delivery teams are aware of the requirements to take advantage of it.
Exchange integration live on Liv-ex
June saw the first fully integrated trade on Liv-ex: a case of Larcis Ducasse 2013. A collector in New York bought the wine through his merchant’s website, connecting through Liv-ex in an instant to a merchant seller in Europe. As Liv-ex Director James Miles explained to the Drinks Business, integration “connects up every consumer and wholesaler in the world.” To find out more about integration services, click here or speak to your Account Manager.
Developers’ forum: 11am on 14th July
Following the first Liv-ex Developers Forum in March, Liv-ex will be running a second one on 14th July. These forums give independent developers the opportunity to hear about latest developments at Liv-ex and ask technical questions. At this session we will be going through and demonstrating our upcoming API releases around logistics and settlement, and asking for your thoughts around our future development roadmap. The format will be the same as last time: approximately a two hour meeting followed by lunch. If you would like your developers to attend, please forward them details and ask them to email Head of Data Neil Taylor on [email protected].
Special Now: 228 live offers and rising
It has been two months since Special Now contracts launched. Stock must be in possession of a valid SIB Passport or photograph: it can then be offered as ‘Available Now’ by selecting the cases of physical stock in Vine. Ownership of stock will immediately be assigned upon trade, meaning that the wine is instantly in the buyers’ account and eliminating the movement of stock. Special Now offers on the Exchange have been rising steadily since launch – there are currently 228 that are live. Select ‘Available Now’ when using the Advanced Search option in order to find them and take advantage.
Thank you for reading
We hope that you’ve found this edition useful. As always, you can keep up to date with developments as they happen by visiting the Liv-ex noticeboard. If you have any feedback or questions on this newsletter, please email [email protected] or call +44 (0)20 7062 8788.
