Thomson Reuters has partnered with specialist firm Seabury TFX to develop a new marketplace for trade finance in Asia with the ‘Receivables Board’ application which provides trade finance solutions for institutional investors and corporate treasurers.
Available through Thomson Reuters Eikon App Studio platform, Receivables Board is the first of its kind platform for trading of accounts receivable by institutional investors and corporate treasurers. The application allows both primary and secondary trading and aims to develop a community and network of qualified corporates and investors.
There is a gap in global trade finance in the range of USD$1.6 trillion annually on untapped potential in trade, unrealized economic value and lost opportunity, according to the Asian Development Bank.
Robert Lin, Founder and CEO of Seabury TFX (HK) Limited, commented:
“The partnership between Thomson Reuters and Seabury TFX addresses a challenge associated with liquidity of corporate receivables that many companies around the world are facing today. These companies can now access the Receivables Board through the world-renown Eikon platform, which allows corporate treasurers to gain liquidity on their account receivables, while enabling investors to track receivables from purchase to maturity. This solution, coupled with Thomson Reuters’ wide range of solutions such as World-Check and FXall, will provide the ability to supplement KYC and forex to benefit both treasurers and investors.”
Stuart Brown, Head of Asia Customer Proposition at Thomson Reuters, said:
“We are delighted to enter into this strategic partnership with Seabury TFX offering significant value for customers in the trade finance market. The launch of the Receivables Board App on our Eikon platform demonstrates the openness of our technology and the ability for our partners to quickly innovate to solve real customer needs. This solution will be of incredible benefit to Corporate Treasurers looking to address their Trade finance requirements and extends our wide range of services for Corporates including FXall, Eikon Auctions and World-Check.”