New Document Management System For Sydney Traders?

November 13th, 2006: The Sydney Futures Exchange (SFE) is pairing up with the New York Board of Trade (NYBOT) to test the suitability of its eCops document management platform for the issuance, safe keeping and transfer of electronic documents for Australian commodities.

NYBOT says that eCops tracks the movement of commodities in commerce and enables the transfer of title of goods through the creation of negotiable documents of title and other electronic documents.

Most commodity industries have complex supply chains that require significant numbers of manually processed document presentations. NYBOT says that eCops provides Electronic Warehouse Receipts (EWRs), title transfers, delivery orders, sampling orders, weight notes, invoices and insurance declarations. Other electronic documentation capabilities including a bill of lading are being developed.

EWR’s form the core of the system as they are negotiable documents and evidence of the title for the goods stored in a storage facility. Most of the other documents included in the system revolve around it. The information contained on each EWR is simple and not unlike its paper counterpart, including a warehouse facility's location, terms and conditions and more.

The two say that their new partnership is designed to support the lending and risk management products of several banks and agribusiness companies, plus the delivery of commodities that are the subject of futures and options contracts listed and traded on the SFE and the ASX.

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