14 February 2002 | Robin Parker
UK-based e-marketplace BT Ignite has teamed up with six global partners to form a trading network.
The Global Interoperability Network has been formed by seven horizontal e-marketplaces within the Global Trading Web Association. These include eScoutSM from the US, Hubwoo from France and Opciona of Spain.
The marketplaces have the potential to connect more than 100,000 buyers to more than 1,000 suppliers and 3.5 million catalogue items.
Companies on each marketplace will be able to transact online with the network of trading partners.
In practice, the members expect most users to target one specific international market rather than link to all seven.
A spokesman for the group claimed that the common standards would cut costs across the board.
"We got together to streamline the roll-out of global procurement strategies," he said.
"We are all horizontal, neutral and objective, and by connecting buyers with international suppliers without separate agreements, they will save time and money."