Bank of America Merrill Lynch Global Transaction Services (GTS) today announced major solution developments in its China trade and supply chain finance product suite. Consistent with the ongoing expansion of its supply chain finance business in China, Bank of America Merrill Lynch has recently introduced enhancements to its Electronic Commercial Draft System (ECDS) and Trade Receivables Finance (TRF) capabilities.

The expansion of ECDS to Bank of America Merrill Lynch’s BANA Beijing and BANA Guangzhou branches strengthens the firm’s evolving China supply chain finance program. The electronic solution facilitates domestic renminbi (RMB) draft settlements, offering a source of low-cost and short-term trade and supply chain financing to corporate trade clients. As a component of the broader supply chain finance product suite, the ECDS platform also addresses both short-term liquidity and risk mitigation requirements of clients.

With the expansion of the ECDS platform to BANA Beijing and BANA Guangzhou, Bank of America Merrill Lynch’s three China branches now have the full capability to process electronic drafts. Prior to receiving approval for expanding the ECDS platform, the solution was available for corporate trade clients through Bank of America Merrill Lynch’s Shanghai branch.

The bank has also recently announced a series of innovative capability enhancements to its Trade Receivable Financing program. Under the expanded program, Bank of America Merrill Lynch purchases open account receivables or invoices from clients that are due from eligible buyers.BofA Merrill Adds to China Trade Services