December 4, 2019
Tradeteq wins accolade for Best Collaboration Initiative at the American Financial Technology Awards
4 December 2019: Tradeteq, the electronic trading platform for institutional trade finance, has won the Best Collaboration Initiative category at this year’s American Financial Technology Awards.
The awards are run by WatersTechnology, a financial services publication, and recognise the leading innovations across various financial sectors. The accolade for Best Collaboration Initiative is awarded to the technology vendor that has worked in close collaboration with capital markets firms.
The USD15 trillion trade finance market remains one of the largest financial markets yet to be tapped into by capital market investors. It currently lacks common infrastructure to enable seamless trading, and there are significant variances in relation to transparency, credit, risk management and reporting.
This accolade recognises Tradeteq’s efforts to work with the industry to address these problems through the Trade Finance Distribution Initiative (TFD Initiative), for which it is the distribution technology provider.
The collaboration, which sees Tradeteq partnering with more than 20 banks, financial institutions and trade associations, seeks to introduce greater transparency and standardisation in the market’s operations and establish trade finance as an investable asset class.
To do this, TFD Initiative members use Tradeteq’s class-leading artificial intelligence credit scoring and electronic trading platform to aid the distribution of trade finance assets to close the USD1.5 trillion trade finance gap.
Christoph Gugelmann, CEO of Tradeteq, comments: “Winning this award recognises the transformative change Tradeteq is bringing to the trade finance market. By partnering with some of the leading trade finance banks, we hope to transform this market into one that is operationally efficient, scalable and easily distributable. Through the use of our credit scoring AI and electronic trading platform, the TFD Initiative’s members can boost trade finance distribution and contribute to closing the trade finance gap.”