MaterialsXchange, an electronic marketplace for buying and selling raw materials, appointed Steve Sladoje as the company’s chief operating officer. According to the company, Sladoje has more than 30 years of experience in exchange commodity trading platforms.
The new MaterialsXchange COO began his career as a trader and served the last 10 years as the COO of Nasdaq OMX Commodities Clearing Company, a startup he co-founded that was purchased by Nasdaq.
“I see MaterialsXchange as a huge opportunity,” Sladoje said in a news release. “While the Xchange is currently focused on lumber, there are other commodity verticals behind it, so I see continued potential down many roads for us.”
Sladoje said he see some challenges in a digital transformation for building materials, but is encouraged as he sees a “steady flow” of new MaterialsXchange users realizing the benefits and ease of ecommerce. The MaterialsXchange platform supplies real-time product pricing with equal access for all users. Transactions occur with the click of a button, money is transferred quickly and securely, and both car and rail are shipping options.
“Steve brings with him the trifecta of admirable merits: a trader who knows risk management, an entrepreneur who understands the grit and perseverance needed for success, and operational experience at the corporate level with the knowhow to manage a team,” Mike Wisnefski, CEO and co-founder of MaterialsXchange.
Chicago-based MaterialsXchange’s goal is to bring both the ease of an ecommerce solution and the sophistication of the modern capital markets to the lumber industry. The digital marketplace launched in 2019 and the first listing on the marketplace were wood products, specialty oriented strand board, European spruce lumber, and southern pine lumber. Earlier in 2020, the company partnered with Ravens Logistics as it expanded its product offerings to include rail freights.