TXF Welcomes Sibos to our Manor!
Introducing TXF’s vital guide to Sibos, the issues raised for the future of financing international trade for banks and corporates alike as SWIFT’s leviathan event comes to London for the first time.
In cockney lingo, ‘our manor’ or ‘gaff’ means where we live. London Calling! is our homage to TXF’s ‘manor’, a great song by the UK band ‘The Clash’, and a timely hello to Sibos.
TXF is delighted to welcome all the international banking and FI professionals who have made their way to London, our home patch, this year to help shape the future of world payments, securities, cash management and trade finance. And for those of you who haven’t trekked to the UK, this is the introduction to our handy PDF guide, a compilation of key features relating to SWIFT and global trade that you may have missed, and an idea of things to do and people to see you may like to follow up on for future visits to London.
Not only do we want to help to prepare professionals to make the most of Sibos, but we highlight some quirky and fun places for you to visit in our home town.
Somewhat surprisingly, this is the first time SWIFT has brought Sibos to London. Brighton was the closest it came, and that was back in 1985, and the attendees then were in the hundreds, not thousands.
SWIFT (established 1973) and Sibos (first seen in 1978) have profoundly changed international payments and the technology which supports them.
We look at the Sibos agenda and present our pick of the sessions that those involved in world trade should attend, or keep an eye on.
SWIFT’s global payments innovation (gpi) initiative runs through the agenda like letters in a stick of Brighton rock [were you there in 1985?]. What has this got to do with financing trade? Listen to SWIFT itself, and you’ll understand that it could be pretty much everything. SWIFT is hoping that gpi will make visible the continued convergence of cash and trade, and we feature this in our roundtable discussion ‘Blurring the Lines’.
We also ask questions about the future. What will happen after SWIFT’s matching engine, trade services utility, comes to an end in 2020 (‘Changing the plugs’)? Does the KYC Registry help to promote trust in trade for banks and corporate customers (‘Identity Crisis’)?
KYC means compliance and the Asian Development Bank (ADB)’s Steven Beck discusses the problem of overcompliance and its effect on the trade finance gap and how the legal entity identifier can be used for smaller corporates.
Trade and supply chains are evolving and being moulded by both the vicissitudes of geopolitics and concerns about the environment. What we are looking forward to is a world of financing international trade that preserves trust and integrity while capitalising on the opportunities from digitisation and embracing the Sibos ethos.
The opportunities now in Sibos London mean that the foundations laid by the industry nearly half a century ago are what we can build on as a community in making trade and technology work together for many years in the future. Enjoy London Calling!
Now time to get up to speed on the markets.
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