Global eTrade Services, a global trade platform company, has announced the launch of CALISTA inventory financing (CIF) – one of the first platforms to be integrated with the Singapore Trade Date Exchange to simplify information flows through the global supply chain ecosystem via a shared data stream.
SGTraDex is a new exchange recently launched by the Singapore government that was conceptualised by the Allican for Action (AfA) to address supply chain digitalisation. AfA is one of the seven Singapore government’s Emerging Stronger Taskforce (EST).
Created to simplify and optimise business processes for oil storage financing, CIF is an end-to-end platform that collaborates with various commodity trading companies, banks and terminals. It enables secure and transparent transfer of real-time trade finance data and provides an auditable log of records for users to easily track changes made to a trade. The integration with SGTraDex facilitates the sharing of case date from CIF amongst multiple stakeholders in a more efficient and streamlined manner.
Anyd Loh, head of commercial at Oiltanking Asia Pacific said: “The implementation of the CIF platform adds significant value to the storage an terminalling industry. We are proud to partner with GeTS in taking this collaboration to the next level.”
The ability to get direct access to trade data enables banks to have increased visibility on goods movement, easily verify trade legitimacy and mitigate trade-related frauds. Simplified trade procedures and date harmonisation allow traders to plan their operations efficiently to better save costs.
For more information visit globaletrade.services
