Programs & Members

Open Ocean Trading is dedicated to bringing forward price transparency to an industry riddled in both short and long-term supply and demand issues.

In order to accomplish this we find reliable partners and start dedicated programs to help in the transfer of price information and market needs. We currently limit the number of partner members to market categories and purchasing power. If you would like more information on any of the Open Ocean member companies and the role they play in our markets please contact us and we would be happy to share more details.

Please refer to below for a list of market categories and pricing programs Open Ocean Trading is currently developing.

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Groundfish

The need to limit price volatility and increase communication between buyers and sellers in the New England ground fishery has become vital for small and large vessel profitability. The recent changes in regulation from days at sea to catch shares have dramatically increased operational costs of the fleet. Open Ocean has originated its marketplace for this specific reason in May of 2012; to help decrease the effects of volatile market prices and broaden the current seafood marketplace.

Since the inception of Open Ocean ground fish markets have played a crucial role in the business model and the development of the FYSH-X platform. Currently FYSH-X helps broker contracts from 1 week in duration to over a years' worth of harvest.

Open Ocean is currently working with a large number of buyers who purchase fresh ground fish and are always looking to expand our marketplace. If you wish to become a member please contact us.

Lobster

Starting in June of 2013 Open Ocean will be implementing the first forward contract auction for American Lobster. The markets will be open to all buyers and sellers of lobster as we refine our grading policy and market mechanics for this unique species.

Open Ocean is currently accepting applications for members of our weekly auction markets. We are looking for commercial entities that have the ability to accept delivery of American Lobster from all areas of the supply chain. If you are interested please contact us and we will happy to review your company information and schedule a time for an interview. We will be making our selection in the next two weeks (ending by July 1st) of those companies who will be eligible to participate in our pilot program. If you would like more info please contact us at info@openoceantrading.com.

Scallops

As part of the initial FYSH-X platform, Open Ocean Trading has successfully launched its scallop contract. Similar to the Groundfish market we are currently forward selling product 1 week to 1 year in duration. Open Ocean is also assembling a pricing program for the forward buying/selling of Nantucket Bay Scallops. Utilizing a number of small vessels on the Island, we currently have the capacity to forward sell 700 to 1500lbs of product per week. If you are interested in participating in this market please contact us.

Under Utilized Species

Here at Open Ocean Trading we are always looking to expand our marketplace into new areas of development. We are currently with industry members to develop pricing programs for dogfish, Gulf of Maine shrimp, and a few other underutilized species. Our goals of these markets are to ease the efforts on more expensive ACE regulated species and divert those efforts to species that are currently "under fished." To do so we are looking to collaborate with science, regulators, vessels, and key industry members to further develop the demand for these species through innovative marketing and a forward contracts. If you are a member of the industry and would like to participate in the evolution of these key species, please contact usand we will be happy to discuss the ways we are moving forward.