RE: Saturday breakfast10 Sep 2022 17:24
"TradeFlow completes first transaction introduced by CARGOES Finance By DP World
Supply@ME Capital plc, the innovative fintech platform which provides the Inventory Monetisation© service to manufacturing and trading companies, announces that TradeFlow Capital Management Pte Ltd ("TradeFlow"), part of the Supply@Me Group, has completed the first warehoused commodities monetisation transaction introduced by CARGOES Finance By DP World. The completion of the first transaction follows the partnership agreement the parties signed earlier this year ("the partnership"), announced in the RNS of 18 February 2022.
TradeFlow Funds have monetised the inventory of a small to medium-sized enterprise (SME) coffee company based in the United Arab Emirates (UAE), via the Dubai Multi Commodity Centre (DMCC) Electronic Warrants ("E-Warrants") platform. TradeFlow is a shariah-compliant, Murabaha transaction member of the DMCC E-Warrant platform.
Under the terms of the transaction, the USD TradeFlow Fund SP received the authenticated warehouse E-Warrants for the coffee inventory digitally. In total, TradeFlow received 66 E-Warrants via the DMCC platform, representing coffee stored in the DMCC Coffee Centre warehouse located in the Jebel Ali Freezone."
The key words are in the first sentence Castle.
COMPLETES