Letter: Trade finance on a screen near you
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Letter: Trade finance on a screen near you


I was most surprised to read in the article "Forfaiting for Fun and Profit" in the December issue, Rupert Wright's comment: "There's constant talk about developing a screen-based system (of generating trade finance transactions) but nobody has yet done so." This company offers just such a system. We call it the Banking Network. It has been fully operational for over a year. Participating banks and exporters link into it using desk-top computers and modems.

The Network speeds up and improves the whole process of locating and matching willing buyers with willing sellers in inter-bank trading and syndication activities. It is of equal value to all users of credit/finance who need to locate a possible lender. Our multinational clients are using the Network as one of their search options when seeking specialized expert finance needs.

In short, the concept is to have one vast network through which multinational exporters and trade finance institutions; buyers and sellers of assets in the banking secondary market; bank asset distribution departments and the Loan Market Association (when operational!) could meet their counterparties in the most efficient way possible.

As your article implies, nobody seriously doubts that a screen-based system will be the future.

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