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Sydney Futures Exchange To Use New York Board Of Trade Technology For Documentation

The Sydney Futures Exchange Limited, now a subsidiary of the Australian Stock Exchange, and eCOPS LLC, a subsidiary of the New York Board of Trade, have agreed to explore the use of eCOPS for its electronic documentation of title to

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The Sydney Futures Exchange Limited, now a subsidiary of the Australian Stock Exchange, and eCOPS LLC, a subsidiary of the New York Board of Trade, have agreed to explore the use of eCOPS for its electronic documentation of title to commodities.

“The proposed initiative is designed to support the lending and risk management products of several banks and agribusiness companies, and the delivery of commodities that are the subject of futures and options contracts listed and traded on the SFE and the ASX,” says a NYBOT spokesman.

eCOPS tracks the movement of commodities in commerce and provides for the transfer of the title of goods. eCOPS provides Electronic Warehouse Receipts (EWRs), title transfers and delivery orders among other services. Currently it creates documentation and title transfers for coffee, cocoa and frozen concentrate orange juice.

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