Member Info for extrader

Just as April 2021's 700+ could have been 799....or even more.

Calamari : (1) I use 'like -for-like' when making comparisons; and (2) TF puts a + after transactions, countries and commodity types (the latter 2 unchanged since April 2021 at least).

Well, this was the situation a year ago, in April 2021 :

https://www.gtreview.com/magazine/volume-19-issue-2/transforming-risk-enabling-trade-poverty-reduction-time-covid-19/

.."To date, TradeFlow has successfully achieved more than US$500mn in trade values through 700+ transactions across 15+ countries and 25+ commodity types, with more than 800 SME counterpart entities KYC reviewed..."

So, using YOUR basis (issue date of Press release), TF has now done something less than $ 500m in a year.
At 6x to 8x pa, that VOLUME is do-able if you have a funding base of $ 60 to $90 million.

HTH

$ 250 m in a quarter (90 days) would require $ 125m funding on a 45 day turnover. So a $ 40m increase in funding (the recent one) is a material increase...from a low base.

Your assumption that it's per quarter also depends , crucially, on TF updating in real time its business volumes as reported in its press briefing. That obviously hasn't been happening : the $ 750m transactions has been a constant for some considerable time, certainly more than a quarter or two.

Whatever.

Or, more likely, the person in TF who prepared the press release on which all these assumptions are made just updated 1 part of the generic 'stock report' - the total volume bit - and forgot to do the rest.
I note you haven't addressed that inconsistency - a 30% increase in business with no change in total transactions, number of commodity types or countries - or the wider issue of turnover frequency.
You'd expect $ 40m in funds revolving 6-8 times pa to support $ 240-320m VOLUME pa.
TF Fund began in 2018, its total VOLUME is now said to be $ 1 billion.

That's why I explicitly said that the new $ 40m facility was such a big deal for TF, it allows it to do LOTS more business than hitherto.

That doesn't change the fact - it rather confirms it - that TF operation is a lot smaller than you're making it out to be.

Don't you understand the difference between ' a billion dollar fund' and ' a Fund(s) that has done a billion dollars worth of business since 2018'?

Asking for a friend....

Without any change in deal total, number of counterparts and countries ?

That’s quite an achievement.

Hot chip

….” Toastal - you don't know that, you are just making an assumption...”

3 mins earlier.

Amazing.

PS
That’s why the $(not £) 40 m deal is referenced and material in the context of TF’s size : at their 6 to 8 x deal cycle pa, that would enable them to handle $ 240m to $ 320m VOLUME of business each year.
Another way to reality check is to look at total volume $ 1 billion and divide by the quoted 800 transactions, which makes for an average transaction size of $ 1.25 million.

HTH

Peakhope and guitarman,

You’re overlooking a couple of things :
(1) The opening words ‘to date’. That means the cumulative total of business since inception, in 2018. As time passes, you would expect this to grow….
(2) TF’s deal cycle , which is 45 to 60 days, ie 6 to 8 times turnover of funds p.a.

When you divide volume by 6 to 8 times, you get a sense of the funds actually needed / available to support TF’s business, ie the size of its Funds.

Hope this clarifies.

.." DP World have said they're going to introduce finance and ICC will help in that regard, too. .."

No they won't - as I've pointed out before.

From the 18 Feb RNS, it is (or should be) clear that DPWorld will market/offer TF's FUNDS to ITS (DPWorld's) customers :

.."This partnership will make the TradeFlow in-transit & warehoused goods monetisation non-credit facility available via CARGOES Finance By DP World, a trade finance platform launched by DP World in July 2021. .."

It's making the TF facility available to its (DP's) customer SME's, NOT sourcing finance FOR TF. As the following sentence makes clear :
.."CARGOES Finance By DP World is a fintech platform which enables access to working capital for small and medium-sized enterprises (SMEs) by connecting them with premier financial institutions worldwide [in this case, cough, TF Funds]..."

It'll help SYME Group INVESTMENT Advisory Revenue, because ....".Through the CARGOES Finance platform , DP World's international client base will have seamless access to the Funds." Again, NOT providing funds to TF.

Tom James then acknowledges this, saying..: "We are proud to become a partner of CARGOES Finance By DP World and are confident that its client base will quickly see the benefit of our Funds..." i.e. DP's clients will be able to use TF's Funds.

And the ICC is a business interest/lobby group that might provide useful intro's but not funding.

Whatever you believe the investment case for SYME to be, you've got this part quite wrong.
HTH

POLB has today RNS'd its AGM date.
CF goes to some lengths to address inspecie shares sell-off concerns.
His arguments/mitigants ? There'll be (some) CGT to pay if you sell; POLB will seek authority to buyback; and there's the carrot of an OTC listing....

Unfortunately I'll be travelling and 'off the grid' at the time, perhaps Some Kind Person can raise these points at the time ?

You'd hope so.
All this talk about the UK bypassing Russian oil ? We'll phase them out over a year. Why so gradually ?
I went to https://en.wikipedia.org/wiki/Global_strategic_petroleum_reserves
OK, a bit stale, but still......
After listing all the EU's SPRs (volume and days covered, ranging from an Irish low of 31 days to a professionally German 90 days), the entry for the UK says :

.."The United Kingdom recently drew up plans to create its own strategic fuel reserves utilizing Steven Brown as an agreement agent..."

Good to know. Right up there with our gas storage provision, then. Don't ask.

'Lions led by donkeys', would seem to be our fate.

https://www.zerohedge.com/geopolitical/saudis-uae-refuse-speak-biden-over-ukraine-situation

With Iran potentially coming in from the cold , with a new nuclear deal......and their OPEC cartel associate Russia facing sanctions......and the West wanting Gulf States to up production, Saudi, the UAE, Bahrain and Qatar must be in a bit of a pickle : who's the policeman in their 'bad neighbourhood' ?

The geopolitics must be a nightmare.

Can't harm SRT's business prospects, I'd have thought.

I thought last night's presentation was better than most / better than feared.

Three questions I'd have liked to see answered, maybe someone here knows :

(1) Of the cash pile (now £ 20m+?) how much is unencumbered ? How is the balance £5m of HMG's £7.5m CHIM deposit treated - I assume the 1st CHIM absorbed £ 2.5m deposit - is any of it (God forbid) refundable ?

(2)Does the £ 75m weighted pipeline exclude all the '95% of 2022 budget' we've been told about ?

(3) Need to understand the just-disclosed abortive PrepBiopharm sale : my understanding of US SPC's (v limited) was that the promoter collected funds and then sourced a deal, which investors could vote on with their money ? Is this so....because 100% redemptions the day before sale suggests something was wrong : deal mispriced ? more attractive alternative ? market circumstances ?

Informed comments/corrections welcome !

.."Coyle still references SYME on his LinkedIn..."

which is more than SYME's NED since RTO Enrico Camerinelli does on linked-in, despite referencing 16 different entities going back to 2005 and his specialty sector expertise being FinTech.
https://www.linkedin.com/in/ecamerinelli/details/experience/

Ho hum.

After their rather dubious recent deals with Russia, Shell might fancy a bit of 'greenwashing' aka refurbishing its image with a more 'patriotic' purchase.

IMO

Hi 33388

.."Due to the level of commitment this will subsequently require, Mr Coyle has decided it is the right time to step away from his role at Syme..."

Let's suppose you're right re imminent IM and consequent extra workload (even for a non-exec ? Whatever)....the RNS as worded suggests /implies that when JC took the role on, he never thought likely the extra workload ie he never expected IM to happen....

Shome mishtake, shurely ...

AFAICS

.."Calamari previously falsely claimed AZ was selling but Bloomberg shows all directors hold their stock. Not to be trusted..."

And yet at 2 x AGM's the Board can't/don't/won't vote the shares they are supposed to have...and the way they say they will.
'Not to be trusted', indeed !

AFAICS