Sibos 2012
BPOs Embraced By BP Chemicals


By Denise Bedell

 

BPO

BP Chemicals expects great reward from the Bank Payment Obligations—or automated letter of credit—program it launched recently, according to David Vermylen, global credit manager for petrochemicals at the firm. BP chemicals is one of two companies—Vale of Brazil being the other—that is involved in a proof of concept pilot using SWIFT’s Trade Services Utility to handle BPO information transfer.


Vermylen expects savings of around $2 million a year with BPOs—which will not replace L/Cs but act as a complement to them, he said. But the value goes much beyond just cost savings, he noted.

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Asian Companies Centralize Treasury To Manage Global Growth


By Denise Bedell

 

Asian-corporate

As companies in Asia increasingly look beyond their borders, they are setting up ever-more advanced treasury operations to manage growth. Mid-size companies are evaluating the value of centralizing their treasury operations in local or regional centers, and larger firms are even looking at setting up treasury centers in Europe, in order to get closer to their trade flows.

 

In an interview with Global Finance at the annual Sibos conference, Lisa Robins, managing director and head of global transaction banking, Asia Pacific, at Deutsche Bank, noted that more and more large local corporates in Asia are increasing their outbound activity.

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SWIFT Alliance Lite2 Eases Corporate Access


By Denise Bedell

 

Alliance-Lite2SWIFT, host of the annual Sibos conference in Osaka, announced that it now has more than 1000 corporates connecting directly with banks and counterparties through its global messaging gateway. And the firm is aiming to make it even easier for companies to bypass long implementation times, bank intermediaries, and heavy equipment investments with the launch of Alliance Lite2, the cloud-based second generation of its corporate web access portal.

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Is Trade Becoming An Asset Class?


By Denise Bedell

 

trade-asset-class

For the first time in Sibos history, the trade delegates from many, if not most, transaction banks actually outnumbered the payments and cash management delegates. This is a clear signal of exactly what is happening in the trade business. As both domestic and cross-border flows continue to grow globally—albeit at different rates—trade is beginning to develop as an asset class for alternative investors. And hedge funds, pension funds, and sovereign wealth funds are starting to see the potential that the enormous, relatively stable flows and often-high turnover rate of trade assets provide. But before it can move beyond the backwater, it needs to develop a secondary market, and in order for that come about; it needs a consistent regulatory framework and cross-industry standardization.

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