Amercanex Chairman Sees New Electronic Cannabis-Trading Platform As "An Early Nymex"
This is about building something, man. It's about being part of something beautiful. Something bigger than all of us. Much bigger, galaxies bigger, because we're all so small. Like a little molecule on the tip of my finger, just like tiny little specks made up of thousands of tinier little specks and, uh-- hey, where'd those Funyuns go?
Legal marijuana is a $5 billion business in the U.S., and Steve Janjic figured he’d get a piece of it. With a commodity exchange. For a product that can’t be transported across state lines. Not to worry. “It’s never easy to pioneer an industry,” says Janjic, a former foreign-exchange executive at Tullett Prebon LLC who has put $1 million into Amercanex Corp., an electronic cannabis-trading platform that handles sales of about 100 to 150 pounds of weed a week...Janjic and other Wall Street veterans backing Amercanex take the very long view. “I look at this as an early Nymex,” says Richard Schaeffer, a former chairman of the New York Mercantile Exchange. “I look for this to become a very substantial matching engine bringing buyers and sellers together.”
Some Wall Street Vets Are Betting On a Weed Exchange [Bloomberg]