CRA News

Launch of Global Dairy Trade (GDT) Pulse Auctions

August 3, 2022
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CRA International, Inc. (NASDAQ: CRAI), a worldwide leader in providing economic, financial, and management consulting services, today announced that Global Dairy Trade Pulse Auctions will be launched with the first GDT Pulse Auction (PA‑001) scheduled for August 9, 2022.

CRA has been working with its client GlobalDairyTrade Holdings Limited to offer GDT Pulse Auctions to complement the twice-monthly GDT Trading Events that CRA has managed since 2008. CRA will manage the GDT Pulse Auctions and the initial Pulse Auctions are considered to be a pilot program occurring on alternate weeks between GDT Trading Events, which occur on the first and third Tuesday of each month. By design, GDT Pulse Auctions will offer more frequent price discovery for the dairy industry to complement the price discovery provided by GDT Trading Events.

The initial GDT Pulse Auctions will offer one dairy product specification to bid on: Fonterra Whole Milk Powder, Regular, Contract Period 2. This will ensure a short auction duration of 15 to 30 minutes, providing a convenient option for bidders. GDT Trading Events will continue to be the large volume, high liquidity auctions that the dairy industry watches, while GDT Pulse intends to provide interim price discovery for core commodity products between the GDT Trading Events auctions.

After the pilot period for GDT Pulse Auctions, the merit of GDT Pulse and the future potential for more frequent price discovery will be assessed. If the pilot is deemed successful, it is envisaged that GDT will invest in platform upgrades to enable scalability of the service offering and the potential for daily auctions. Other sellers will be invited to offer products at this time.

As with GDT Trading Events, CRA will manage GDT Pulse Auctions using CRA’s latest trading platform, Trading System for Efficient Markets (TSEM™). CRA’s TSEM is highly scalable for a variety of bidding mechanisms and enables clients to customize the UX/UI to optimize the experience of bidders and other market participants. CRA’s trading platforms have been used for hundreds of auctions and other competitive bidding mechanisms in a wide range of industries.

Additional information about Global Dairy Trade can be found at the GDT Information Website at

More information about CRA’s Auctions & Competitive Bidding Practice is available at