Corporate TreasuryWorld’s first digital trade database to be developed

World’s first digital trade database to be developed

New database will provide more timely and relevant information on global trade flows.

Coriolis Technologies, a source of data and analytics as a service for trade professionals, has announced a partnership with the Global Trade Professionals Alliance (GTPA), to develop the world’s first digital trade database.

The database will provide more timely and relevant information on global trade flows, allowing users to better understand how global trade is changing as digital technologies and services become more important aspects of supply chains.

The database will be used by banks, governments and the investment community, allowing them to make robust and more informed business decisions with unparalleled insight into the global flows of goods, services and strategic trade.

In the first stage of development, Coriolis and the GTPA will focus on building data for the Asia-Pacific region. It’s estimated that the first version of the platform will be put out to the market by the end of 2019.

Dr Rebecca Harding, CEO, Coriolis Technologies, said: “We are delighted to be working with the GTPA to improve the availability of good quality trade data, through the development of a digital trade database.

“Collecting and collating data has historically proved difficult, and this problem has been further compounded by the growth in digital trade, which is far harder to track than the movement of physical goods.

“The Coriolis-GTPA database will allow trade originators to understand precisely where the risks and the opportunities are around the world in politics, in economics and in reputation.”

Treasury benefits

For corporate treasurers, this new database will introduce new levels of benchmarking possibilities.

Dr Harding explains: “Corporate Treasurers deal everyday with cross border payments but do not know how many of these are in the services and digital trade sectors necessarily and do not have a picture of how big the total market is by country, global region or across the world. This means that they have no benchmark against which to compare their performance and his tool will enable them to do that.”

Lisa McAuley, CEO, Global Trade Professionals Alliance, said: “The benefits of international trade are currently the subject of debate in various contexts, however, it has long been demonstrated that, even with its systemic imperfections which must be acknowledged, trade has been a powerful driver for economic value creation, inclusion and poverty reduction, as well as peace and security.

“The GTPA is pleased to partner with Coriolis Technologies as trade and investment data collection is imperative to drive robust trade policy decisions, analysis on the implementation and success of  Free Trade Agreements and more importantly data that can be used to communicate the role of trade in a countries best economic interests to the general public.”

Related Articles

How can treasury teams successfully manage foreign exchange risk in a volatile global environment?

Corporate Treasury How can treasury teams successfully manage foreign exchange risk in a volatile global environment?

4d Nash Riggins
Do you have the best TMS for your needs?

Corporate Treasury Do you have the best TMS for your needs?

5d Austin Clark
The discontinuation of (L)IBOR: many questions, very few answers

Corporate Treasury The discontinuation of (L)IBOR: many questions, very few answers

7d Moritz Sterzinger
Striking the right balance between debt and equity in capital structure

Cash & Liquidity Management Striking the right balance between debt and equity in capital structure

2w Nash Riggins
Gap in digital platforms pose a real threat to European banks

Banking Gap in digital platforms pose a real threat to European banks

2w Jay Ashar
Infographic: The risk readiness 12-year-low

Treasury Risk Management Infographic: The risk readiness 12-year-low

2w Austin Clark
Treasury Salary Survey 2019 launched

Corporate Treasury Treasury Salary Survey 2019 launched

2w Austin Clark
Navigating the World of Treasury in Emerging Markets

Corporate Treasury Navigating the World of Treasury in Emerging Markets

2w Deepan Dagur

Whitepapers & Resources

Are You Ready to Implement your GRC Solution?

Are You Ready to Implement your GRC Solution?

4w
Netting: An Immersive Guide to Global Reconciliation

Netting: An Immersive Guide to Global Reconciliation

3m
Mitigating Costs and Exposure - A Multilateral Netting White Paper

Mitigating Costs and Exposure - A Multilateral Netting White Paper

3m
Cyber Fraud and Treasury - How to Stay Ahead of Emerging Threats

Cyber Fraud and Treasury - How to Stay Ahead of Emerging Threats

3m