CATEX Reports 1800th Transaction

The Catastrophe Risk Exchange Inc. (CATEX), a New York-based technology provider for the insurance industry, announced the 1800th transaction has been executed on its global trading systems.

CATEX indicates that the 1800th trade was completed late last week on a sub-system of the CATEX Global Exchange. According to company CEO Francis Fortunato, CATEX systems are licensed to insurers, reinsurers, and brokers, and produce transaction results on an hourly basis.