After a few years of tremendous success with the PartnersOne exchange in Baton Rouge, the discussion of "we should do this elsewhere" began among its founders and board. The first recognition was that if the secret to PartnersOne was in the trust developed among its membership as a result of member-ownership, and if any new exchanges developed would need to be built upon the member-owned concept, then why would we be interested in investing in another community without a return?
The answer was to develop other exchanges as a service provider of start-up knowledge, ongoing training and support, management tools, and specifically the necessary software and systems to manage the banking and management aspects of that exchange. We would essentially create our future customers, new exchanges, and these services we would continue to provide. Since this was a speculative venture, the decision was made to start a new company, TradeAuthority, built with those persons willing and able to invest in this opportunity and with the purpose set as its mission to duplicate the PartnersOne model. A reciprocal agreement was reached between PartnersOne and TradeAuthority providing the necessary legal protection and benefits to each entity.
During the last few years, the web-based and swipe card capable software and engine behind TradeAuthority's management services has been developed and implemented in the PartnersOne exchange with great success. TradeAuthority began marketing operations in the late summer of 2010 and helped open up its first exchange in that same fall. TradeAuthority has since opened 14 other exchanges and contracted with an existing exchange to provide the QuikTrade Barter Management System to that exchange of over 3000 members. TradeAuthority continues to add new exchanges with plans to have 25 additional exchanges within the next few years and over 100 exchanges within the next 5 years.