Trade Finance Exchange (TFX) is a web-based solution that enables corporates to request quotations from their financial institutions for the issuance of standbys, guarantees and export documentary credit confirmations. Financial institutions can respond to a request for quotation (RFQ) through various electronic communication channels. Corporates can view and compare all received quotes easily and select the preferred financial institution to work with. TFX is integrated with GTC’s @GlobalTrade™ Multi-bank Trade Finance Platform. This integration provides a straight through process leading to greater efficiency and cost savings.
Functionality for Corporates
- Request for Quotation covering:
- Commission
- Local guarantor commission
- Issuance and amendment fees
- LC confirmation fee
- LC negotiation fee
- LC acceptance fee
- LC advising fee
- Other fees
- Manage preferred lists of financial institutions for sending RFQs
- Template RFQ requests for quick entry
- Easily select type of requests and financial institutions that you want to respond
- Quickly compare the total fees for each received quote
- Upon acceptance of the preferred quote, the other financial institutions are automatically notified that their quote was not accepted leading to time saving and transparency
Functionality for Financial Institutions
- Realtime notifications for RFQs
- Option to respond via email (Free) or through a web application (Annual Subscription)
- Ability to submit multiple quotes
- Automatic feedback from clients
- Reports on won and lost transactions
- Analytical tools enabling better pricing decisions
Common Features
- Dashboard overview of all RFQs
- Context-sensitive address book
- Context-sensitive clauses
- Configurable alerts
- Summary
- Description including reference to transaction data
- Activation conditions based on transaction data
- Expiration period
- User access right
- Details viewed are adjusted to user time zone
- Audit trail through activity logs
- Search functionality
- Ability to attach documents
- Personalized transaction lists
- Manual or automatically generated transaction numbers
- Detailed transaction history
- User-configurable reporting: fields selection, multi-level grouping, sorting, filtering, sub-totals
- Output reports in PDF, HTML, CSV
- Report Scheduler for generating and emailing of reports at various configurable intervals
- Configurable report visibility options