GlobalTrade Corporation has announced that Siemens Financial Services (SFS) has gone live with GlobalTrade Corporation’s (GTC) @GlobalTrade Swift/DTAEA Converter & eLC Delivery Service. First commercial transactions from Bank of China, Frankfurt branch, and from Misr Bank Europe have been successfully delivered electronically in German DTAEA format to the headquarters of SFS in Erlangen Germany.


Swift/DTAEA Converter & eLC Delivery System enables banks to convert Swift category 7 Documentary Credit files into German DTAEA format. The banks are able to enhance the messages by adding information to them such as the advising bank’s cover letter, confirmation terms, bank charges, and contact details before transmitting the data to the beneficiary through the agreed electronic format and data channel. In turn a higher quality message is delivered from the bank to the corporate faster.


“We are very pleased with this development,” says Gerhard Heubeck, team head of documentary business of SFS. “Now we have a tool with which to connect about 25% of the banks that before could not send us electronic messages.”


“GlobalTrade Corporation has offered us to test their system with five of our major clients,” adds Ulrich Caspary, head of international, Bank of China Frankfurt branch. “We had positive feedback from all clients and are glad to now be able to offer this service to all of our clients.”


“As a niche player we have to carefully listen to our customers “demands to stay competitive and to provide an excellent service in order to reach our goals. GlobalTrade helped us to make a step forward to not only consolidate but increase our slice of the market,” comments Bernd Hartmann, head of international, Misr Bank-Europe.