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Citem launches the Spring-Summer 2022 collection on the first French commercial platform

On the occasion of Paris Design Week, the Center des Expositions et Missions Commerciales Internationales (Citem) is launching a new collection of household items and furniture for spring / summer 2022 on Maison & Objet and More (MOM), the digital platform of the great French salon Maison et Objet.

Under the creative direction of lead designers Rita Nazareno and Gabriel Lichauco, the Philippine delegation to MOM will spark nostalgia with designs inspired by key eras; namely, the Roaring Twenties, Italy in the 1950s and California in the 1970s.

“For our Spring / Summer 2022 collection, you can expect bold, striking and vibrant expressions evoking future nostalgia,” said Citem Executive Director Pauline Suaco-Juan. “We harness the abundance of nature and transform natural materials such as rattan, abaca, and wood into quality export crafts that not only elevate our pride as Filipinos, but the lives of artisans as well. and their communities. Through our products, we defend our materials, our culture and our heritage, ”she added.

In addition to showcasing the best of Filipino design, participation in MOM also opens up business opportunities for Filipino brands and manufacturers. While not on-site at Maison et Objet, one of Europe’s premier home and lifestyle trade shows currently taking place, Filipino products continue to be discovered online through MOM, where our products will be available 24/7.

According to Suaco-Juan, attending international trade shows through digital means also complements the agency’s own digitization efforts. In addition to giving Filipino brands additional exposure and visibility in the global design community, it also drives traffic to the digital platforms managed by Citem.

The Philippines’ participation in MOM also saw the selection of two pieces that will be presented at the Maison et Objet Paris 2021 fair from September 9 to 13, 2021. The Check bench and the Fiori lamp join other notable designs in the Best of of the living room. Special MOM exhibition.

The Check bench is one of the previous designs by Zarate Creative Director Jim Torres, which he started developing in 2019. Using two disparate materials, metal and wood, and finished in mint or orange, the piece was also intended to be an elegant texturing solution. interior spaces.

Meanwhile, award-winning furniture maker Finali will present the Fiori lamp, an embodiment of the brand’s aesthetic and sculptural trends, as part of the Best of MOM exhibition. Made from a native and naturally renewable material, rattan, the Fiori lamp simulates a fully bloomed flower on the ground and is strategically designed so that the bulb can be placed in the center.

Currently, the following brands are live on the MOM platform:

• Crafts of Cebu

• Celestial Arts Inc.

• Contemporary

• Chanalli

• E. Murio Manila

• Final

• Hacienda Crafts

• Designs by Haspe

• Aboriginal

• JB Woodcraft

• La Galuche

• Lija by That One Piece

• Bigger

• Heritage of nature

• Obra Cebuana

• Prado Philippins Artisans Inc.

• Prizmic & Brill

• SC Vizcarra

• Stonesets International

• Tadeco

• Lighting and Venzon objects

• Vito Selma

• Weavemanila Inc.

• Zacarias

• Zarate

All pieces from the Philippine delegation to MOM and more from the Home, Fashion and Lifestyle (HFL) industries nationwide are also on FAME +.

FAME + is Citem’s digital sourcing and storytelling platform for HFL sectors. From October 20 to 22, 2021, Citem will welcome buyers and enthusiasts from all over the world at FAME + Market Days, where attendees will be able to initiate business directly with exhibitors and access information sessions covering design, digital marketing and entertainment. .

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On the way, a fungible commerce platform for crypto users – the New Indian Express

Express news service

MUMBAI: WazirX, the largest cryptocurrency exchange in the country, both in number of users and in value of transactions, strives to set up separate platforms for fungible art trading and music, just days after the government announced it would create broad classifications and categories for cryptos. Nischal Shetty, Founder and CEO of WazirX, says “cryptocurrency is here to stay, now more than ever.”

He expects there to be no overarching law or regulation and that there will be separate frameworks for different parts of the ecosystem. Shetty adds that if for the past 2-3 years it has been crypto trading and the focus has been mostly on traders and investments, then in the last year non-fungible tokens or NFTs have shown. that they should not only be about investments, but also on a platform to trade alternative assets. “We see ourselves as a window to the crypto world,” he said.

With eight million users, WazirX has recorded transaction volumes of around $ 21 billion in the past nine months. In June, WazirX launched a marketplace for artists and designers. They have selected 150 artists for whom they will create an NFT exchange. The Art Forum went live on June 1 and in July added a category for music and electronic dance music performers. Vishakha Singh, vice president of WazirX NFT market, says that in the market people can buy and sell art or digital creations.

Banks, financial institutions, and valuable stores of value like gold and silver have taken centuries to gain confidence and credibility as a store of value, so what makes suppliers of crypto and currency exchanges think they can achieve the same thing in a matter of years or months? “The first hurdle would be to educate the masses, which is happening,” Singh said, adding that at present this is a starting point and cannot be compared to polite institutions. However, she maintains that the blockchain is transparent.

Crypto has been around for a decade now, and the way NFT exchanges are run could mean that a writer’s book cover or a first draft of a hit song by a singer can become tradable. How does trading on an NFT platform work? Singh explains that if a person sees the first edition of a Spiderman comic land on an exchange as a one-of-a-kind item with an NFT, they can purchase it through a wallet used to purchase the WazirX currency which in turn is used to buy the NFT. This NFT can then be used to trade, buy or sell other items in this ecosystem.

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IBM finds that ASX outage is due to business platform not ready for go live

The Australian Securities Exchange (ASX) experienced “software glitches” when it went live with the refresh of its trading stock platform in November last year, forcing the exchange to suspend trading. trades.

At the time, the exchange said its technology provider Nasdaq, as well as independent specialist clients and third parties, performed extensive testing for more than a year on the ASX Trade system, including four dress rehearsals, in view of its sending into nature.

The technology used, he said, was the latest generation of a trading system developed by the Nasdaq and used around the world.

Following the blackout, the Reserve Bank of Australia (RBA) and the Australian Securities and Investments Commission (ASIC) requested an independent review, and ASX saw fit to turn this responsibility over to IBM.

Never Forget: IBM Blasted By ABS For Not Handling The DDoS Census

On Monday, IBM made 17 recommendations to ASX and discovered a number of shortcomings in the project, including noting that the business platform was not ready for commissioning.

“Factors that suggested the ASX Trade system was not ready to go into service given ASX’s almost zero appetite for downtime. This was the case even though the formal implementation readiness processes were completed and verified by multiple parties with no objection to go live, ”IBM found.

“There were gaps in the rigor applied to the risk management process and expected project delivery issues for a project of this nature, and the risk and issue management, project compliance with ASX practices, requirements of the project and the test strategy / planning of the project have not been accepted industry practice.

“It was not reasonable to expect that the test plan used would satisfy ASX’s almost zero appetite for downtime.”

According to Big Blue, seven factors suggested the platform was not ready for go live, including historical software product quality metrics, additional testing needs noted, quantity of open defects, gaps in end-to-end test coverage. , the proximity of the freeze windows to year-end changes for participants, the risk probability ratings, and the lack of evidence of challenges to the risk rating or commissioning.

“Last November’s market blackout did not meet ASX’s high standards,” ASX CEO Dominic Stevens said on Monday. “We thought the software was ready for commissioning, as was our technology provider Nasdaq. There were clearly some issues, which was particularly disappointing given the significant progress we’ve made on resilience in recent years. “

IBM also concluded that the project could have benefited from additional and independent review.

He determined that there were gaps in the rigor applied to the risk management process and issues with project delivery, such as opportunities to identify additional missed risks, differences in delivery risk models project and enterprise delivery risk processes, with the project not receiving risk resources with greater technical project experience from which it could have benefited and governance being transferred to a group that had a wide range of responsibilities.

“The change diluted the focus on the project,” IBM said.

The review did find some bright spots, however, with IBM claiming that the ASX met or exceeded industry leading practices in 58 of 75 of the capabilities assessed.

“We acknowledge the findings of the report. It is fortunate that the ASX has met or exceeded industry leading practices in most areas. But the report highlights some important areas for improvement and we will respond to any of its recommendations.” , Stevens added.

“ASX is well advanced in developing a detailed response plan to be executed over the next 12-18 months, and we will be asking the independent expert to review our actions to respond to his recommendations. Our execution of this work program will be under the supervision of ASIC and RBA. “

IBM said developing the business case for the project and managing project change was beyond accepted practices; that the project had and had access to sufficient financial, time, human and technological resources at all stages of implementation to achieve its objectives; that communications with key stakeholders were appropriately managed by the ASX; and that the incident management actions taken by the exchange were appropriate.

In 2018, the exchange was asked to strengthen its risk management practices following an “unprecedented” hardware failure in September 2016 which led to the crash of its stock market. According to ASIC, the actions taken by ASX in the 2020 incident were appropriate and reflected lessons learned from the 2016 incident.

“ASX takes the resilience and reliability of its markets very seriously. That is why we have immediately contacted our regulators to order this external review and we will act on all of its recommendations. It’s also why we’ve already taken steps to change our project delivery practices, “Stevens continued.

“The changes we have made to our management structure are aligned with these goals.

“Driving technological change is difficult and creates a risk of transition. No market will function without incidents or outages from time to time. Nevertheless, all the failures are regrettable. “

Regulators expect ASX to apply information from IBM’s findings across the exchange to ensure that existing and proposed projects, including the CHESS replacement program, are managed and implemented. appropriately.

ASIC is also undertaking a separate investigation into the ASX Trade outage to determine whether ASX has fulfilled its obligations under its Australian Market License.


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DNeX sees revenue from new digital commerce platform increase by 300%

KUALA LUMPUR (July 27): Dagang NeXchange Bhd (DNeX), which today launched its digital commerce and logistics platform known as SealNet to provide users with unique cloud-based logistics and cross-border services, expects SealNet revenue to grow approximately 300% from a weak base as DNeX positions SealNet as a global connector for digital commerce.

In a statement to reporters covering the virtual launch of SealNet today, DNeX said SealNet is aimed at importers, exporters, manufacturers and trade-related companies.

DNeX said: “SealNet provides customers with an easy-to-use platform accessible anytime, anywhere and in real time.”

According to DNeX, SealNet includes products and services that connect and reduce redundancy in data collection and information flow throughout the supply chain.

Under SealNet, common information is shared and replicated to ensure data reuse and avoid re-entering the same data throughout the supply chain, according to DNeX.

“SealNet also offers an integration capability to address a variety of needs and structures, providing real-time communications and with increased flexibility, control and visibility,” said DNeX.

DNeX said SealNet also comes with real-time cargo tracking technology where traders can track the status of documents, approvals, and freight.

“Access to a range of insurance providers from which customers can choose to protect their assets and mitigate any maritime risk, as well as a list of financiers from which customers can directly apply for financing, is also available in a near future, ”said DNeX.

Speaking at a press conference after the virtual launch of SealNet today, DNeX Group Managing Director Tan Sri Syed Zainal Abidin Syed Mohamed Tahir said that SealNet is smartly designed to connect and digitize chain components. global supply and logistics to improve the efficiency of transport and trade facilitation mechanisms. .

Syed Zainal said that SealNet aims to provide a better electronic system for logistics and cross-border trade.

“Faced with the challenges of today’s complex supply chain and the Covid-19 pandemic, businesses in the industry need the right solution.

“With SealNet, we also seek to address issues that have hampered efficiency and contributed to unnecessary costs in the industry. We position SealNet as the global digital commerce connector to facilitate not only regional but also global commerce.

“Customers large and small can have easy and secure access to SealNet’s digital business platform anytime, anywhere to save time and money, as well as to operate in real time. with the accuracy of the data, ”he said.

Asked about SealNet’s growth in terms of earnings and market position, Syed Zainal said DNeX expects SealNet’s revenue to grow by around 300% from a low base. He did not specify a timeframe within which the 300% revenue growth target will be met.

He said DNeX hopes SealNet will be profitable because the platform provides services that customers need.

“We are very competitive in the way we bill our customers because our goal is not to overburden our customers.

“I am sure that SealNet’s revenue will continue to grow and eventually contribute to DNeX’s profits,” he said.

At the afternoon close of Bursa Malaysia today, the DNeX share price rose 3.5 sen or 4.79% to 76.5 sen, giving the group a market cap of about RM 2.24 billion.

DNeX has 2.93 billion shares issued.

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CLS announces post-trade platform for financial market infrastructures

The upgrade allows better control of change delivery for its settlement solutions and provides a single platform to support CLSSettlement, CLSClearedFX, and CLSNow.

CLS has completed Convergence, an important phase of its multi-year technology investment program, to provide its advanced post-trade technology platform for Global Financial Market Infrastructures (IMF).

CLS migrated CLSSettlement to its Unified Services Platform (USP), optimizing the underlying technology platform supporting its settlement services.

SIX crosses the Atlantic and opens an office in the United States

The upgrade allows better control of change delivery for its settlement solutions and provides a single platform to support CLSSettlement, CLSClearedFX, and CLSNow.

The new platform gives CLS full ownership of application development and change delivery, with in-house specialists handling ongoing platform support as well as the design and development of its settlement services, without talk about improved monitoring and automation.

Tom Barkhuff, Chief Information Officer, CLS, commented: “At CLS, we are constantly evaluating and evaluating new methods to improve our services for the benefit of our members. Our Convergence program demonstrates our commitment to this strategy.

“The priority for us is that new technological solutions significantly improve efficiency while meeting extraordinarily high resilience standards. Through a multi-year technology investment program, we have maintained this goal and achieved our goal of implementing an industry-leading technology stack, meeting the needs of our members while maintaining the high standards expected of a Systemically important MFIs. “

CLS recently commented on the Global FX Code update. The company welcomed the changes to the principles of payment-versus-payment and clearing settlement risk.

The changes have placed more emphasis on using PvP settlement mechanisms when available, and provide more detailed guidance on managing settlement risk when PvP settlement is not in use.

CLSSettlement helps market participants adhere to the Updated Code as it uses a PvP system, mitigating settlement risk by simultaneously settling payment instructions for the underlying currency transactions.

Today, the service settles more than $ 5.5 trillion in payments in 18 of the world’s most actively traded currencies, for more than 70 direct participants and more than 25,000 indirect participants.

The updated version of the Global FX Code was released this week. Eleven of the fifty-five principles of the Code were discussed.

The committee strengthened the Code’s guidelines on anonymous trading, algorithmic trading and transaction cost analysis, disclosures and settlement risk.

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China Construction Bank to Establish Regional Digital Commerce Platform

LABUAN (July 15): China Construction Bank (Malaysia) Bhd (CCBM) and China Construction Bank Corporation Labuan Branch (CCBL) signed a memorandum of understanding with three companies to build a comprehensive ‘regional one-stop-shop’ (RSW) digital platform to facilitate exchanges.

The RSW was proposed to promote the facilitation of international trade with major trading partner countries and to assist small and medium-sized enterprises (SMEs) in financing exports and imports through an ecosystem approach. It is an artificial intelligence-based digital trade facilitation platform that connects trade finance, insurance and logistics in a single marketplace.

In a statement to Bernama today, CCBL said the three companies – SealNet Sdn Bhd, Bay Supply Chain Technology Sdn Bhd (CapBay) and Labuan Digital Authentication Center Inc (DAC) – signed the memorandum of understanding on Wednesday, in presence of Export-Import Bank of Malaysia. Bhd (EXIM Bank).

CCBM Director General Felix Feng Qi, SealNet Datuk Representative Patrick Wong, CapBay Ang Xing Xian Executive Director and DAC Datuk Director Tee Ting Cham signed the document at a ceremony.

To complement the RSW, the Chinese banking group’s smart matchmaking platform, CCB Match Plus, will integrate national and international data to facilitate cross-border cargo matching.

CapBay will complement the RSW ecosystem with an e-commerce finance platform to provide Malaysian SMEs with better access to trade finance while SealNet will connect RSW to importers, exporters, manufacturers and trade-related companies.

During the ceremony, Chin Chon Young, head of EXIM Bank, said in a joint statement that the MoU signifies “the start of an exciting development for exporters and importers in Malaysia, as RSW is designed for convenience and affordability, supported by digital technology ”.

CCBM Deputy Director General Wang Qijie said CCBM has shown support for the establishment of RSW.

“By having a direct link, it would create a business value chain for our clients where a twin company in CCB Match Plus could seamlessly move to RSW for transaction execution,” he said.

SealNet’s Wong said the company is looking to address “pain points” that have hampered efficiency and caused unnecessary costs in the industry.

“SealNet is designed to link global supply chains and logistics to improve the efficiency of transport and trade facilitation mechanisms, improve the productivity of freight logistics and provide a better electronic system for logistics and cross-border trade.

“Customers large and small can have easy and secure access to SealNet’s digital business platform anytime, anywhere to save time and money, as well as keep up-to-date. real with data accuracy, ”he said.

In 2020, Malaysia’s total exports represented 26% of its GDP, up from 22.1% in 2019.

“With the growing export trend, RSW will support and create a solid base to facilitate and cultivate additional trades in the region. Under the MoU, drawing on the expertise of partners, the parties will collaboratively build a comprehensive trade finance credit model as a key element to support the trade finance platform. electronic commerce, ”he added.

The collaborating partners also agree to work together in the area of ​​linking CCB Match Plus to the RSW ecosystem, with CCBM managing offsets and settlements behind the scenes.

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Tridge, a global food and agriculture trading platform, secures Series C funds

On Monday, South Korean company Tridge, an online business and trade information platform that connects global buyers and sellers of food and agriculture products, announced that it had received a round of 60 million Series C from Forest Partners, the Seoul-based alternative investment firm that manages approximately $ 300 million in client assets.

In a statement announcing the round, Tridge said he would use the new capital to help it grow in response to demand from food companies looking for alternative sources around the world as traditional supply lines are facing increasing disruption and risk. Specifically, Tridge plans to establish businesses and co-packing / warehousing facilities in 50 strategic countries.

The latest funding round values ​​Tridge at $ 500 million, up from $ 140 million since April 2020, putting the company on track to achieve a unicorn valuation (over $ 1 billion) for the foreseeable future. The Tridge platform currently attracts more than 300,000 monthly visitors to source agricultural products. The company is targeting $ 300 million in revenue by the end of 2021. Previous investors in Tridge include SoftBank Ventures Asia and Greenwich, Connecticut-based startup venture capital fund Activant Capital.

“The food and agriculture industry is one of the most fragmented industries, and buyers and suppliers alike struggle to find the right information or the right partner,” Tridge CEO Hoshik Shin said in a commentary on the funding cycle. “Our market intelligence works like a vessel to help them come together; we are the bridge to connect and help them start new business relationships in the most efficient and reliable way possible.

In addition to matching global buyers and sellers of agricultural products on its platform and providing food supply chain analysis and market intelligence, Tridge also offers a certified supplier program, whereby it buys direct from producers and then acts as a global distributor to a network of buyers that includes some of the world’s best-known food and consumer multinationals, including Wal-Mart, Kellogg’s, Costco, ABInbev, Indofood, Sysco, Alms, crossroads, Nestle, Mitsui & Co. Ltd, and others.

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