But now the heat has been turned on B2B exchanges. Share prices are down and there are no more flotations. Most industrial sectors have at least a dozen exchanges competing for too little business.
Software can be primitive, especially for users outside purchasing departments.
The names given to the exchanges probably haven't helped to endear them to users. In chemicals Bayer has offered Elemica, DuPont has unveiled Omnexus and Dow Chemical has bequeathed Envera. Now exchanges are facing the scrutiny of regulators. The US Federal Trade Commission allowed Covisint, but reserved the right to take further action if the public interest requires it. Regulators fear that online exchanges could help cartels to form.