TradeCloud was started 5-years ago by four co-workers from companies like Trafigura who had a lot of expertise and a vision around digitalization in commodities. Its initial focus was on a communications platform for metals commercial users and, based on the success of developing that, a similar platform for energies like coal, oil, refined products, and so on. It has now also released a post-trade component that utilizes the blockchain and intends to connect to a wide range of third-party services and develop an API to connect to commercial CTRMs prior to the end of the year. This week, I had a briefing and demonstration from Matthew Bottell, COO of TradeCloud based in Switzerland. The first thing that Matthew is keen to point out is that TradeCloud is NOT a CTRM. It isn’t either. After seeing the demonstrations, it is essentially a communications and collaboration platform for commercial users and for post-trade stakeholders. The Metals and Energy apps allow negotiation, price discovery, digital contract generation, and complete KYZ processes with built-in secure chat. The post-trade platform called the TradeCloud Commodities Web (TCW) utilizes a shared ledger based on R3’s Corda solution and links all service providers and stakeholders together along… continue reading
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