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16 financial institutions join global platform for trade finance risk distribution

CCRManager Pte Ltd, a global trade FinTech company, today announced the launch of an innovative new electronic platform developed for the distribution of trade finance, supply chain finance and working capital assets.

Pioneer members:

  • Bank of China, DBS Bank, ICICI Bank, Swiss Re Corporate Solutions, and UniCredit

have signed up as pioneer members of the platform to support their trade risk distribution business globally.

Banks who have signed letter of intent to become member of CCRManager within next few months:

  • ANZ Bank, Bank of America Merrill Lynch, BBVA, Bank of East Asia, BNP Paribas, HSBC, Industrial and Commercial Bank of China, Mitsubishi UFJ Financial Group, Mizuho Bank, Standard Chartered Bank and Sumitomo Mitsui Banking Corporation.

Development

Developed with the support of the Monetary Authority of Singapore (MAS) and major global financial institutions. In a collaborative approach, CCRManager was built from the ground up over a period of 12 months through a combination of market engagement workgroups, consultative workshops, and industry expert reviews conducted with the leading trade finance institutions globally.

System testing of the platform is taking place simultaneously across 14 countries. 

High hopes for the web based platform

The platform is web-based and will enable banks to manage the entire process of

distributing trade finance internationally to other banks, credit insurers, and fund

managers. Users of CCRManager will be able to: 

  • list assets for distribution
  • negotiate deals
  • manage supporting documentation in a secure environment
  • have real-time visibility of market conditions and pricing transparency
  • manage their portfolio, reporting, and compliance activities 24-hours a day.

They will also have access to tools for data analytics, market benchmarking, and pricing indices.

Man Ka Kit, CEO of CCRManager said, “We estimate that the secondary market for trade finance assets at approximately USD 1.7 trn is roughly 10% of global cross-border trade. As an infrastructure platform, we believe that CCRManager will address this entire market, help unlock more capital and increase the supply of trade finance globally.”

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