A new internet-based wool trading system is up and running after 18 months of testing.

Wool Online is a joint venture between the Wool Connextions company and software development company, Golden Micro Solutions .

It’s designed to give  wool merchants and exporters another selling option, besides the traditional auction system.

Alan Udy of Golden Micro Solutions says the new service is being used by most exporters.

And Greg Tibbs of Wool Connextions thinks it could eventually replace the weekly auctions as the main method of selling wool.

 “At the moment, the open auction system is weekly, and with the lack of wool volume these days, fortnightly,” said Mr. Tibbs. “We have the ability to sell five days a week – we only currently sell on two, but we have that greater ability.”