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todaySeptember 23, 2024
In this insightful interview, Ben Hillary, Managing Director of Commodities People, sits down with Istvan Czilik, CEO of Revenue.AI, to explore the transformative power of AI in the commodity trading sector, with a special focus on energy markets. Their conversation dives into the current state of AI adoption, the promising opportunities, challenges, and the exciting future of AI in commodities.
Istvan opens by sharing how Revenue.AI, founded in 2020, was built with a clear mission: to revolutionise pricing and operational processes using AI. He explains that energy trading, in particular, has embraced AI more quickly than other commodity markets. While many companies are still in the early stages of experimenting with AI, others have already achieved remarkable results, such as automating daily PNL reporting – once a resource-heavy task now streamlined with AI.
When asked about the areas where AI is making the most impact, Istvan highlights middle-office operations, such as trade execution and forecasting, as the “low-hanging fruit.” He points out that AI’s ability to enhance automated trading, market analytics, and risk management is already driving significant value. By allowing companies to better understand market dynamics and automate complex tasks, AI is helping trading firms stay ahead of the curve.
But Istvan also sees untapped potential. While AI is thriving in certain areas, he mentions that optimising trade strategies and incorporating AI into smart grid technologies are still underdeveloped, mainly due to their complexity. However, he believes these areas are ripe for innovation and growth, with AI poised to drive future breakthroughs as companies enhance their data integration capabilities.
The discussion then shifts to the roadblocks slowing AI adoption. According to Istvan, many companies struggle with disconnected systems and poor data management, making it difficult to fully leverage AI across their operations. AI governance, he adds, will become a critical component for any organisation looking to succeed in this space.
Talking about ways to resolve the major challenges of AI development in commodity and energy trading, Istvan suggests a five-step journey from Revenue.AI. He details that the roadmap can help companies build their AI-enabled team and their quick wins, turn the wins into immediate business value, and ultimately build their own strategy. He stresses the importance of building an AI strategy that focuses on long-term scalability and regulatory compliance. Istvan also introduces Zeta, a Cognitive Commodity Trading Copilot, which is also an AI advisor. Istvans shares multiple useful, highly applicable use cases of Zeta in Commodity Trading, such as PNL reporting.
Discussing solutions to the key challenges of AI development in commodity and energy trading, Istvan outlines a five-step roadmap from Revenue.AI. This journey helps companies build AI-enabled teams, achieve quick wins, and translate those wins into immediate business value, ultimately leading to the development of a comprehensive AI strategy. He stresses the importance of building an AI strategy that focuses on long-term scalability and regulatory compliance. He also introduces Zeta, a Cognitive Commodity Trading Copilot and AI advisor, showcasing several practical use cases, such as P&L reporting, that demonstrate Zeta's value in commodity trading. According to Istvan, Zeta is one of Revenue.AI's flagship products and is trusted by multiple big commodity trading companies.
Learn more about Zeta HERE.
As the conversation draws to a close, Istvan looks ahead five years, envisioning a future where AI is deeply embedded in every aspect of commodity trading. He predicts that the role of traders will shift significantly as AI takes over many routine tasks, leading to discussions on how to best leverage human expertise in an AI-driven world. He also warns of the potential pitfalls of rapid AI adoption without a well-thought-out strategy, suggesting that companies will need to learn from early missteps to avoid costly mistakes.
Overall, the interview paints a vivid picture of how AI is reshaping the commodity trading landscape, offering both exciting opportunities and challenges for the industry.
For more information about Revenue.AI, please visit: www.revenue.ai
Ben Hillary – Hello and good morning, good afternoon or evening to all of our viewers, wherever you're listening in from today. My name is Ben Hillary, Managing Director of Commodities People, and I'm really, really delighted to be joined here by Istvan Czilik, CEO of Revenue.AI, a leading developer of AI solutions for the commodity trading sector. This is actually quite a special interview as we've personally worked very closely with Revenue.AI in recent months to develop an AI copilot and enhance searchability across our own data and our many, many years of recorded content.
We've been really, really delighted with the results. Do please check for yourself by going to our Commodity and Energy Trading Insider content hubs. Over the next 15 minutes or so we'll be taking a deep dive into all things AI.
We'll be talking current adoption, the low hanging fruits, hidden opportunities, roadblocks, use cases, and finally a glimpse into the future of what the future holds for Revenue.AI and the wider world of AI in commodities. So Istvan, welcome and thank you very much for being here.
Istvan Czilik – Yes, absolutely. Thank you very much for inviting me and I am very happy that actually I'm going to be able to talk with you. We got to know your team very well during this small project, that you are mentioning. So I can also recommend it to everyone to please have a look. I think it's a very, very useful tool altogether for the commodity lovers to learn anything around the market. What you can learn out of it is like outstanding.
Ben Hillary – Yeah, absolutely. Thank you. Well, let's get the ball rolling. If you could start by just telling us a little about what it is you do and yeah, by giving us an overview from where you sit, current status in AI adoption for energy and commodity trading.
Istvan Czilik – Absolutely. So, not surprisingly probably that if you want, the listeners are aware of who is Revenue.AI. So let me start there for a little bit. So we are probably one of the few companies who are born agile in AI based on the work that we started to do. So we started around 2020 with purely the mission of making sure that actual pricing is going to be AI-enabled and making sure that actually we are helping in the AI adoption for anyone in the market. And what is a better area for this than commodity trading. Surprise, surprise.
So this is how we are starting to work with commodity trading as one of our major markets where we are providing solutions. And inside there, the special niche is energy, which is even more special than the rest of the commodity trading, especially in the AI part, I would say, because it's more ahead.
So it's an interesting topic what you were asking, because we have been working with multiple big commodity houses, small commodity houses across various areas of what they are trying to achieve, especially around pricing or AI strategy. And what we have seen is that energy trading is ahead of the curve inside the commodity space. So we have a lot of requests. I can really easily categorise the various incoming interests from the different companies. Now that, there is this AI hype, everyone wants to implement AI. What I would say is that lots of the companies are still in the experimental rule. So what this means is lots of companies want to implement a ChatGPT-like solution to help them have some quick wins, but there is no real strategy.
Then there are some beginners who are actually actively looking into enabling their capability growth and they already have some success stories. So there are some very interesting business cases coming our way, where we were able to already successfully deliver results in this space. For example, even funnily, some stuff like daily PNR reporting is enabled and augmented by AI. It actually can become a very fluid exercise and not so resource-heavy as it was previously in the market space. And then when we talk about leaders, this is where actually there is some very smart energy trading companies who did already win because they strategically place bets in some areas and they actually have a very well-deserved AI vision, which AI vision is enabling them to land in some classical areas. Again, but now with AI enablement and AI empowerment, like trading and others, which is helping them to be ahead of the curve and ahead of the game. So that's pretty much it. This is where I see a lot of the game players.
Ben Hillary – Yeah. Excellent. Which business areas do you see as receiving the most attention when it comes to applying AI, essentially, which are providing the lowest-hanging fruits?
Istvan Czilik – Yes. So I would say that lots of the middle office and trading enablement areas are capable of AI enablement. So my favorite areas are actually trade execution and forecasting. For example, in this space, immediate wins can come from automated trading or algorithmic trading, naturally, or forecasting and similar. But also another very interesting area which I see coming up, for example, is market analytics. So one of the things that can come up with AI enablement is that actually you are able to understand your market much better. And because of that, you are able to implant these market analysis into multiple areas of your actions.
Coming up with immediately the next area, which I really see as an interesting and exciting element, which is risk. So risk and compliance, I see that here, like a lot of classical, from an AI perspective, classical best practices can be re-implemented simply by using the currently available risk databases and all the market analysis information. So that actually risk can be automated by AI and it can be much smoother, which is naturally let’s not to forget it is one of the trickiest elements in trading altogether. So it's very important to have as secure a company as you can get from this perspective. So this is where pro protection or memory detection and similar areas can be really quickly enabled with the use of AI technologies.
And last but not least, if you don't mind, this is the last point, right? Is a real trade capture and operations that actually some years ago we have already been talking about it, but I really see that the combination of robotic automation together with trade capture is a wonderful area for AI adoption altogether, to make sure that actually every part here becomes as automated and as little resource-having as it can get.
Ben Hillary – Yeah, excellent. Conversely, which areas do you see getting less attention presently than they might deserve, but you can see providing potentially great benefit?
Istvan Czilik – So I would say that one of the things where it's a bit more complex and because of that, it's naturally like coming as a one of the not in the lower hanging fruit area, is optimisation of trade strategies.
So here what I see is that because the market analysis, which I was already mentioning and am catching up, needs to get more and more data, and that needs to be adapted to the trade strategies. This is where I see that there will still be lots of pickups, but it's still in its infancies when we look into this area. And I would say that especially connected to energy trading, I would say, and renewables, I would say anything connected to smart grids and the related usage is also something where I see a lot of places where improvement can be made. And it's not necessarily because people don't want to make this AI adapting steps. But actually, like because of this, the whole smart grid is so intensive, it's literally so in nature. So that I would believe that in a couple of years, it's going to catch up big and go ahead this way.
Other areas, which I would like to mention, which applies literally to every commodity trading, no matter if it's energy, are more on the back end, right? So like lots of things, people look into the fancy stuff, right? How can I do automated trading? How can I actually make sure that I have my ChatGPT-like solution, as I mentioned, but AI can really help in things like data, data quality, data gathering, integration in between existing infrastructure elements and commodity companies literally have a history of not investing here. So I would say this is a very big area for implementation to the point that actually this is one of the areas where we invested ourselves as well, to make sure that we can help commodities to grow faster in this space. Because I really, really find that like in lots of cases, whenever I go into commodity trading houses, I start to talk with someone who is playing global and I am talking with someone who has like ten different ETRM systems or even more across the global, which means that you can dream about AI adoption. But ultimately, as long as your basics are not done well, there is a bit of a challenge as to how you can grow from that area.
Ben Hillary – Yeah, excellent. What do you see as the key roadblocks to the development of AI within energy and commodity trading and how do you think we can resolve these challenges?
Istvan Czilik – Very nice question. Yes. So there are some patterns. There are some patterns, definitely. So I would say let's start where I left off then, right? So like this disconnectedness of the systems. So this is one of the roadblocks that I see for enterprise wide adoption, especially for bigger companies.
So there are multiple CTRM systems or other systems running around. And because they are not connected at all, like this means that the data they are speaking is not the same language. And if you don't have the same data language being spoken, then this means that there is going to be a very difficult way you can connect a Singaporean trader to a London trader, to a Geneva trader, to a Chicago trader, which is a problem. And this is where these decisions must be made very, very well in every area of the market.
Then I would say that there is going to be a guide to lots of quick wins, there are some very exciting quick wins, to be honest. Actually we also built a couple of steps to enable these because these are key for the win adoption. But like ultimately then you start to scale. Like the quick wins need to turn into an organised approach. And this kind of AI governance is going to be an important element for the adoption for multiple reasons. On one hand, because any company who adopts into this space will have to have some kind of leverage, like what kind of AI solutions you will have. This is one.
But on the other hand, beyond having instant benefits, what is going to come up that any kind of AI solution will need to go through a compliance stats as well. So every global government will implement AI compliance requirements. And if you are not taking it seriously, then you should, because all of these things are going to be resulting is that actually some AI solutions you are investing today with a complete disregard of these directions, will end up obsolete or worse in a file, because simply the solutions are not compliant with the regulatory requirements as well.
And I would say, let's park it here. I could go with a couple of other examples, but let's have a part here. Let's put it this way. When we built our own best practices, we really created a five step process to guide through any adapter in a direction. It's like, how can the team be trained? How can they actually start to build their quick wins? And how can these quick wins be turned into immediate business value and after that into an AI strategy. Because without this, literally, there is no scalable AI in any trading or any company whatsoever.
Ben Hillary – Yeah, excellent. Well, shifting this conversation, then, looking at Revenue.AI itself, what developments can we expect from your side from Revenue.AI in the coming months?
IC – Yes, thank you very much for asking. This is also very exciting area, naturally. As I was saying, we were born with AI vision, and we really believe when everyone was saying is chatbots are not relevant, we were already focusing on, it's not about having a chatbot, it's about talking to your own data and your own system and making sure that you can chat with that. So this is where we started to build various copilot personas to be able to talk to your software. And in this way, I would say is that what we are doing right now is that we are going to be consistently refreshing the core offerings what are successfully on the market at the current moment.
So, for example, this five step process, which I was explaining on AI adoption, now, we have plenty of relevant, low hanging food business cases, so anyone is coming our way, we are putting there more and more. So there is more ideas for anyone who is just knocking on your door, or our door, saying it like, “Hey, Istvan, can you help us with PNL? Can you help us with IPV? Can you help us with market-to-market?” We can go and help with direct ideas like how that can be turned into not resource-intensive and very much AI power solution. So this is one part.
Also, we are continuously refreshing and releasing our nice copilot there, Zeta. So, which is actually like one of our flagships for making sure that our communication and reporting works out there for commodity trading companies.
So we invented this very ingenious process where anyone can feed down any kind of data coming from their ETRM, CTRM pricing, or whatever databases and play it back. So like Zeta can become your AI advisor now. Zeta is now getting trained on more and more areas. So the stuff that I was mentioning about making sure that the VAR can be clearly done by Zeta or there can be a PNL report and the PNL report, you are getting an absolute refresh on that one. Or the work automation for a trader can be provided by Zeta. This is where we are providing a lot of updates as we move on with time, so the functionality gets richer.
And last but not least, like when we go into data, another element where AI is going to be a disruptive technology, we are actually working together with a couple of the data providers, global ones and local ones as well, to be able to provide a uniform data strategy for AI transformation. So this is also a very big destructive elements.
Back to the trend. What you were asking, right, is like, because market analysis is crucial, making informed decisions on trading is crucial and making sure that there is a great decision when, let's say we are lending a trade, how the margin is going to end up in the end, is crucial. This is where data analysis and data unification, we make sure that this becomes not heavy on resources because what's happening today – and then let me finish over here, right? – Potentially big companies have lots of data crunchers who are delivering the data into their databases. Data comes in with a couple of months delay or sometimes if the data organisation is bigger than its couple of weeks delays. And then basically then you can try to make decisions. By the time you get to the data, the decision point is obsolete.
So what happens is like it's going to be a drawback in your delivery. So this is where our implemented process and our invented process makes it literally real time. And that part is the part where we are coming up with newer and newer data integrations and releases thanks to our partners and our own engine as well.
Ben Hillary – Excellent. Final question from my side would be we're looking into the crystal ball. We're having this interview five years from now. What are we discussing?
IC – Okay, if you don't mind, I will start with the challenging part, right? And the challenging part is like the rule of the trader. So I will be really like, if anyone asks about five years and what's going to come in five years or even ten years or similar, coming with AI background, I can say it is very difficult and very challenging to predict. So I would say that there is going to be, I'm not sure if you are familiar with the term agile, artificial general intelligence, so I think that's going to land a huge disruption in the trading industry as well. And this is why I'm mentioning it. Like we will be talking about on one hand what is the actual future role of a trader and how to leverage it best when we are looking into trading, because this area is going to grow incrementally and exponentially in this space.
And the other one is going to be like how to avoid the mistakes others made. Because the other area, which I am believing is going to happen quite a lot, is that now there is a lot of adoption hype. The adoption hype is going to result in several issues and I'm pretty sure that there will be some global risks, frauds, mistakes, right? We can come up with a business case and we can talk about that like how to avoid those kinds of issues as well.
Again, back to the point. What I am seeing is that it's okay to build an internal with less of a strategy, but if your AI system makes a decision which is ultimately going to become impactful for the trading community, that is going to be a completely different goal game. So I would say that in five years, AI is going to be everywhere. It's going to be commonplace. So we will be talking fact-based, like how to avoid some of the mistakes and what is the future role of the trader as the big things.
Ben Hillary – Excellent. Good. Well, that pretty much brings us to time. So well, I'd say thanks. Thanks very much, Istvan, for a fascinating conversation. Also to our listeners for joining and until next time, wishing you all the best and thank you.
IC – Great. Thank you very much.
Written by: Commodities People
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ABOUT MOLECULE
Molecule is the modern and reliable ETRM/CTRM. Built in the cloud with an intuitive, easy-to-use experience at its core, Molecule is the alternative to the complex systems of the past. With near real-time reporting, 30-plus integrations, and headache-free implementations, Molecule gets your ETRM/CTRM out of your way – because you have more valuable things to do with your time.PARTNER
Molecule is the modern and reliable ETRM/CTRM. Built in the cloud with an intuitive, easy-to-use experience at its core, Molecule is the alternative to the complex systems of the past. With near real-time reporting, 30-plus integrations, and headache-free implementations, Molecule gets your ETRM/CTRM out of your way – because you have more valuable things to do with your time.ABOUT cQuant
Founded in 2015, cQuant.io is an industry leader in analytic solutions for energy and commodity companies. Specializing in Total Portfolio Analysis, cQuant’s cloud-native SaaS platform simulates all risk factors, optimizes portfolio decisions, and includes dynamic reports and dashboards for better decision making. cQuant’s customers have greater insight into their financial forecasts and the drivers of value and risk in their business.
cQuant.io is a team of senior quantitative model developers, experienced energy analysts, software developers and cloud infrastructure experts. Leveraging decades of energy experience, cQuant.io is committed to serving the present and future analytic landscape with the most accurate models and highest performance in the industry. The field of analytics is changing rapidly and cQuant.io is dedicated to offering the latest advantages to their customers.LEAD ANALYTICS PARTNER
Founded in 2015, cQuant.io is an industry leader in analytic solutions for energy and commodity companies. Specializing in Total Portfolio Analysis, cQuant’s cloud-native SaaS platform simulates all risk factors, optimizes portfolio decisions, and includes dynamic reports and dashboards for better decision making. cQuant’s customers have greater insight into their financial forecasts and the drivers of value and risk in their business.ABOUT Digiterre
Digiterre is a software and data engineering consultancy that enables technological and organisational transformation for many of the world’s leading organisations. We envisage, design and deliver software and data engineering solutions that users want, need and love to use.PARTNER
Digiterre is a software and data engineering consultancy that enables technological and organisational transformation for many of the world’s leading organisations. We envisage, design and deliver software and data engineering solutions that users want, need and love to use.ABOUT GEN10
Gen10 focus on making the day-to-day tasks of commodity and carbon trading faster and simpler through automation and collaboration. Our technology empowers our clients, completing the feedback loop between trading and finance to support smarter, safer trading decisions.PARTNER
Gen10 focus on making the day-to-day tasks of commodity and carbon trading faster and simpler through automation and collaboration. Our technology empowers our clients, completing the feedback loop between trading and finance to support smarter, safer trading decisions.ABOUT CAPSPIRE
capSpire is a global consulting and solutions company that creates, customizes, and implements value-driving technology for commodity-focused organizations. Fueled by direct industry experience in commodities trading, risk management and analytics, they offer expertise in business process advisory, managed services and operations consulting.
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capSpire is a global consulting and solutions company that creates, customizes, and implements value-driving technology for commodity-focused organizations. Fueled by direct industry experience in commodities trading, risk management and analytics, they offer expertise in business process advisory, managed services and operations consulting.ABOUT QUOR
In the Commodity Trading and Management business, expertise emerges as the most valuable resource. A deep understanding of the commodity trade lifecycle is what makes Quor Group, the leading Commodity Trading, and Commodity Management solutions provider.RISK SUBJECT EXPERT
In the Commodity Trading and Management business, expertise emerges as the most valuable resource. A deep understanding of the commodity trade lifecycle is what makes Quor Group, the leading Commodity Trading, and Commodity Management solutions provider.ABOUT RadarRadar
We are RadarRadar (formerly Tradesparent). Experts in the commodity trade and processing industry. Operating in the most fundamental industries of the world, food, energy and other commodities. Since 2010, we deliver high profile projects for the world’s leading commodity producers, traders, and processors. We work with our clients to configure bespoke and extendable data solutions, enabling their successful digital transformation.SPONSOR
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SOS MEDITERRANEE is a European, maritime-humanitarian organisation for the rescue of life in the Mediterranean. It was founded by European citizens who chartered a rescue vessel in order to save people in distress in the Central Mediterranean – the in the world’s most deadly migration route. Our four headquarters are located in Berlin (Germany), Marseilles (France),
ABOUT WISTA Switzerland
ASSOCIATION PARTNER
WISTA Switzerland is a key global shipping and trading hub, with regional clusters in the Geneva Lake area, Zug/Zurich and Locarno. The shipping and trading activity in Switzerland provides over 35’000 jobs and represents 3.8% of the Swiss GDP. Switzerland, and Geneva in particular, is also home to international organisations such as the World Trade Organization (WTO) and the European Free Trade Association (EFTA) and the United Nations Conference on Trade and Development (UNCTAD).
WISTA Switzerland was founded in Geneva in 2009 and incorporated according to the WISTA International statute in January 2010. The Association is active in both Geneva and Zug/Zurich chapters with the Board and Members meeting monthly to discuss topics of interest, exchange ideas and experiences. We also meet for networking events, conferences and member exclusive coaching sessions.Every year, several conferences are organized by Wista Switzerland on latest developments in the industry in both areas Geneva and Zug/Zurich.
Founded in 1983, the Club has been actively involved in the local and international Shipping and Trading community and presently is proud to have about 160 members including individuals working as shipowners, traders, charterers, logistics providers, agents, banks, insurers and lawyers as well as a large number of companies active in the market.Geneva is a global hub for Shipping and Trading and in an industry where network is key to one’s individual and to the industry’s success, the Propeller Club serves a vital role.
The Propeller Club organises a range of events which are open to the Shipping and Trading community both in Geneva and those visiting for work or pleasure. These events include monthly evening events focused on specific topics combining learning and networking opportunities. On a more social level, the Club organises networking events such as our annual events to celebrate Escalade, an annual outing on the Neptune on Lake Geneva and a summer lunch. The Club also organises drinks events to promote networking in the larger community.
The Propeller Club is in close contact with Propeller Clubs in ports and cities throughout Europe and further afield to coordinate our activities and to create value for the broader network.
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The Propeller Club – Port of Geneva is a professional association providing opportunities for Shipping and Trading professionals to network and develop their knowledge.
Founded in 1983, the Club has been actively involved in the local and international Shipping and Trading community and presently is proud to have about 160 members including individuals working as shipowners, traders, charterers, logistics providers, agents, banks, insurers and lawyers as well as a large number of companies active in the market.Geneva is a global hub for Shipping and Trading and in an industry where network is key to one’s individual and to the industry’s success, the Propeller Club serves a vital role.
The Propeller Club organises a range of events which are open to the Shipping and Trading community both in Geneva and those visiting for work or pleasure. These events include monthly evening events focused on specific topics combining learning and networking opportunities. On a more social level, the Club organises networking events such as our annual events to celebrate Escalade, an annual outing on the Neptune on Lake Geneva and a summer lunch. The Club also organises drinks events to promote networking in the larger community.
The Propeller Club is in close contact with Propeller Clubs in ports and cities throughout Europe and further afield to coordinate our activities and to create value for the broader network.
Gafta is the international trade association representing over 1900 member companies in 100 countries who trade in agricultural commodities, spices and general produce. Gafta is headquartered in London and has offices in Geneva, Kiev, Beijing and Singapore. More than 90% of Gafta’s membership is outside the UK. With origins dating back to 1878, Gafta provides a range of important services that facilitate the movement of bulk commodities and other produce around the world.
It is estimated that around 80% of all grain traded internationally is shipped on Gafta standard forms of contract and Gafta’s arbitration service, based on English law, is highly respected around the world. Gafta also runs training and education courses, manages Approved Registers for technical trade services and provides trade policy information, and events and networking opportunities for members.
Gafta promotes free trade in agricultural commodities and works with international governments to promote the reduction of tariffs and the removal of non-tariff barriers to trade, as well as a science and evidence-based approach to international trade policy and regulatory decision making.
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Gafta is the international trade association representing over 1900 member companies in 100 countries who trade in agricultural commodities, spices and general produce. Gafta is headquartered in London and has offices in Geneva, Kiev, Beijing and Singapore. More than 90% of Gafta’s membership is outside the UK. With origins dating back to 1878, Gafta provides a range of important services that facilitate the movement of bulk commodities and other produce around the world.
It is estimated that around 80% of all grain traded internationally is shipped on Gafta standard forms of contract and Gafta’s arbitration service, based on English law, is highly respected around the world. Gafta also runs training and education courses, manages Approved Registers for technical trade services and provides trade policy information, and events and networking opportunities for members.
Gafta promotes free trade in agricultural commodities and works with international governments to promote the reduction of tariffs and the removal of non-tariff barriers to trade, as well as a science and evidence-based approach to international trade policy and regulatory decision making.
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The International Trade and Forfaiting Association (ITFA) is the worldwide trade association for companies, financial institutions and intermediaries engaged in trade and the origination, structuring, risk mitigation and distribution of trade debt. ITFA also represents the wider trade finance syndication and secondary market for trade assets. ITFA prides itself in being the voice of the secondary market for trade finance, whilst also focusing on matters that are relevant to the whole trade finance spectrum.
ITFA presently has close to 300 members, located in over 50 different countries. These are classified under a variety of business sectors, with the most predominant being the banking industry. Others include forfaiting, insurance underwriters, law firms, fintechs as well as other institutions having a business interest in the areas of Trade Finance and Forfaiting.
To find out more about ITFA, please visit www.itfa.org or send an email on info@itfa.org
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The ICC Digital Standards Initiative (DSI) aims to accelerate the development of a globally harmonised, digitalised trade environment, as a key enabler of dynamic, sustainable, inclusive growth. We engage the public sector to progress regulatory and institutional reform, and mobilise the private sector on standards harmonisation, adoption, and capacity building.
The DSI is a global initiative based in Singapore, backed by an international Governance Board comprising leaders from the International Chamber of Commerce, Enterprise Singapore, the Asian Development Bank, the World Trade Organization, and the World Customs Organization.
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BIMCO, the practical voice of shipping, is the world’s largest international shipping association, with around 2,000 members in more than 130 countries, representing over 60% of the world’s tonnage. Our global membership includes shipowners, operators, managers, brokers, and agents. BIMCO is a non-profit organisation.
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Founded in 1972, ANRA is the Italian Corporate Risk and Insurance Managers Association. The main goal of the Association is to promote the establishment and development of risk management knowledge in Italy and to strengthen its own reputation of privileged interlocutor as well as institutional representative for matters concerning risk management. ANRA intends to offer to its members professional update programmes and the opportunity of exchanging experiences.
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The Society of Technical Analysts (STA) www.technicalanalysts.com is one the largest not-for-profit Technical Analysis Society in the world. The STA’s main objective is to promote greater use and understanding of Technical Analysis and its role within behavioural finance as the most vital investment tool available. Joining us gains access to meetings, webinars, educational training, research and an international, professional network. Whether you are looking to boost your career or just your capabilities – the STA will be by your side equipping you with the tools and confidence to make better-informed trading and investment decisions in any asset class anywhere in the world. For more details email info@technicalanalysts.com or visit www.technicalanalysts.com
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CTRMCenter™ is your source for everything ‘CTRM’. This online portal, managed by leading CTRM analysts – Commodity Technology Advisory LLC (ComTech), features the latest news, opinions, information, and insights on commodity markets technologies delivered by some of the industry’s leading experts and thought leaders. The site is visited by more than 1500 unique visitors per week. CTRMCenter also includes free access to all of ComTech’s research in the form of reports, white papers, interviews, videos, podcasts, blogs, and newsletters.
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Trade Finance Global (TFG) is the leading trade finance platform. We assist companies to access trade and receivables finance facilities through our relationships with 270+ banks, funds and alternative finance houses.
TFG’s award winning educational resources serve an audience of 160k+ monthly readers (6.2m+ impressions) in print & digital formats across 187 countries, covering insights, guides, research, magazines, podcasts, tradecasts (webinars) and video.
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HR Maritime, founded in 2008 by Richard Watts, is a Geneva based company providing services to the International Trading, Shipping and Trade Finance Industries. With a client base both within Switzerland and around the globe we offer guidance and implement tailored solutions to the range of problems besetting a company involved in the Trading, Shipping or Financing of commodities. We work with Commodity Traders, Importers and Exporters, Ship Owners and Managers, P&I Clubs, Insurance Underwriters, Trade Financiers, Lawyers and a number of associated service providers. With our broad knowledge and experience across many areas of business, geographical regions and various commodities, we are able to approach nearly any problem or situation with a practical, pragmatic and innovative solution. We are equally at home working on enhancing efficiency within the largest trading companies as with small exporters or importers looking to break into the international markets. Our services focus on Consultancy, Outsourcing and bespoke Training.
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Headquartered in Switzerland, Commodity Trading Club is the world's largest community of professionals in commodity trading, shipping, and finance, spanning the entire globe. We provide a broad spectrum of benefits, including exclusive business networking events and a cutting-edge commodity trading platform, fostering members' career and business growth.ASSOCIATION PARTNER
Headquartered in Switzerland, Commodity Trading Club is the world's largest community of professionals in commodity trading, shipping, and finance, spanning the entire globe. We provide a broad spectrum of benefits, including exclusive business networking events and a cutting-edge commodity trading platform, fostering members' career and business growth.