TransCore's New Truckload Rate Exchange For Spot Market Freight
TransCore's new Truckload Rate Exchange program is a consortium comprising truckload intermediaries that anonymously pool rate data based on actual invoiced spot market transactions to provide an accurate, timely barometer of spot market rates
TransCore's new Truckload Rate Exchange program is a consortium comprising truckload intermediaries that anonymously pool rate data based on actual invoiced spot market transactions to provide an accurate, timely barometer of spot market rates.
To join the Truckload Rate Exchange, members must meet certain requirements, and they'll receive U.S. and Canadian spot market rates. To avoid compromising proprietary information, members' identities are kept anonymous and strict privacy policies apply.
The new program has grown out of an initial spot market rate database based on $14 billion in aggregated transactions. The database is updated daily with current spot market rates.
"We have reached a point where we can expand the Rate Exchange program to a limited number of new members, extending comprehensive spot market lane coverage for all equipment types in the United States and Canada," said Don Thornton, TransCore's senior vice president of sales, freight services.
TransCore has added the spot market rate data to its Truckload Rate Index, which previously featured contract freight lane pricing for 12 million reported line haul rates.
More info: www.TranscoreFreightSolutions.com
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