Sixteen financial institutions (FIs) are onboard for CCRManager’s new electronic platform, developed for the distribution of trade finance, supply chain finance and working capital assets.

Bank of China, DBS Bank, ICICI Bank, Swiss Re Corporate Solutions and UniCredit have signed up as members of the platform to support their trade risk distribution businesses.

In addition, ANZ Bank, Bank of America Merrill Lynch, BBVA, Bank of East Asia, BNP Paribas, HSBC, Industrial and Commercial Bank of China, Mitsubishi UFJ Financial Group, Mizuho Bank, Standard Chartered Bank and Sumitomo Mitsui Banking Corporation have signed a letter of intent to become a member of CCRManager within the next few months.

Tan Kah Chye, chairman of CCRManager, says the platform’s creation is a “collaborative effort supported by leading trade finance institutions providing over 1,000 man hours to help design and refine [it]”.

The platform has also been developed with the support of the Monetary Authority of Singapore (MAS), through its Financial Sector Development Fund. It was built from the ground up over a period of 12 months through a combination of workgroups, workshops and industry expert reviews conducted with the FIs.

The platform is web-based and users will be able to list assets for distribution, negotiate deals, and manage supporting documentation. They will also have access to tools for data analytics, market benchmarking, and pricing indices. In addition, CCRManager will provide users with the ability to manage their portfolio, reporting and compliance activities 24 hours a day.

CCRManager is a wholly owned subsidiary of Tin Hill Capital. The latter is a banking infrastructure development company investing in, incubating, and operating trade and working capital related initiatives.