Tradeteq launches Tradeteq Connect to enhance core trade distribution

Tradeteq, a London-based provider of technology and software to the trade finance industry, has launched of Tradeteq Connect – an expansion of its existing platform to help distribute core trade products such as letters of credit (LCs), guarantees and trade loans.

The new functionalities will help improve how banks and non-bank institutions sell and purchase risk participations in core trade finance products.

Developed in collaboration with a European bank, Tradeteq Connect aims to digitise the entire core trade distribution process. Previously, this process relied on spreadsheets; however, Tradeteq Connect’s single system can handle the full distribution chain end-to-end in one place.

The platform runs on Microsoft’s Azure cloud and allows clients to hold data in their own dedicated ‘Tradeteq Pod’, located in one of 61 regions across the globe.

“We see huge leaps forward in the technology for trade finance. The impact of Covid-19 has affected the smallest of exporters the most, making the need for an industry-wide solution even more apparent,” said Nils Behling, CFO of Tradeteq.

“Banks can no longer be wholly responsible for the trade finance sector and instead will look to distribute assets out to other investors. By making a low-risk asset class widely accessible, businesses will benefit as they can now get funding that would otherwise not been available.”