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UN CEFACT TBG5
UN/CEFACT TBG5 is the entity responsible for financial services under the United Nations Centre for Trade facilitation and Electronic Business, (UN/CEFACT) under the United Nations Economic Commission for Europe (UNECE). As an International Trade & Business Processes Group (TBG), TBG5 is the working group specializing in the Finance Domain its mission is to enable end-to-end straight-through processing (End to End (E2E) Straight Through Processing (STP) of financial services data and to establish standards and requirements for the exchange of such data. TBG5 delivers solutions and standards that lead to the simplification of international trade. With finance forming an integral and vital part of many trade transactions the group is widely consulted by the other industry vertical domains under the UN/CEFACT umbrella who are pursuing similar objectives. TBG5 is positioned as the co-ordination point between pure Financial Services standardisation, which takes place under ISO Technica ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Services
Financial services are service (economics), economic services tied to finance provided by financial institutions. Financial services encompass a broad range of tertiary sector of the economy, service sector activities, especially as concerns financial management and consumer finance. The finance industry in its most common sense concerns commercial banks that provide market liquidity, derivative (finance), risk instruments, and broker, brokerage for large public company, public companies and multinational corporations at a macroeconomics, macroeconomic scale that impacts domestic politics and foreign relations. The extragovernmental power and scale of the finance industry remains an ongoing controversy in many industrialized Western economies, as seen in the American Occupy Wall Street civil protest movement of 2011. Styles of financial institution include credit union, bank, savings and loan association, trust company, building society, brokerage firm, payment processor, many ty ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Trade Facilitation
Trade facilitation looks at how procedures and Trade restriction, controls governing the movement of goods International trade, across national borders can be improved to reduce associated Cost, cost burdens and maximise efficiency while safeguarding legitimate regulatory objectives. Business costs may be a direct function of collecting information and submitting declarations or an indirect consequence of Border checkpoint, border checks in the form of delays and associated time penalties, forgone business opportunities and reduced competitiveness. Understanding and use of the term “trade facilitation” varies in the literature and amongst practitioners. "Trade facilitation" is largely used by institutions which seek to improve the regulatory interface between government bodies and traders at national borders. The WTO, in an online training package, has defined trade facilitation as “the simplification and harmonisation of international trade procedures”, where trade proce ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
UN/CEFACT
UN/CEFACT is the United Nations Centre for Trade Facilitation and Electronic Business. It was established as an intergovernmental body of the United Nations Economic Commission for Europe (UNECE) in 1996 and evolved from UNECE's long tradition of work in trade facilitation which began in 1957. UN/CEFACT's goal is "Simple, Transparent and Effective Processes for Global Commerce." It aims to help business, trade and administrative organizations from developed, developing and transition economies to exchange products and services effectively. To this end, it focuses on simplifying national and international transactions by harmonizing processes, procedures and information flows related to these transactions, rendering these more efficient and streamlined, with the ultimate goal of contributing to the growth of global commerce. Trade facilitation and electronic business UN/CEFACT focusses on two main areas of activity to make international trade processes more efficient and streamline ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Nations Economic Commission For Europe
The United Nations Economic Commission for Europe (ECE or UNECE) is an intergovernmental organization or a specialized body of the United Nations. The UNECE is one of five regional commissions under the jurisdiction of the United Nations Economic and Social Council. It was established in 1947 in order to promote economic cooperation and integration among its member states. The commission is composed of 56 member states, most of which are based in Europe, as well as a few outside Europe. Its transcontinental Eurasian or non-European member states include: Armenia, Azerbaijan, Canada, Cyprus, Georgia, Israel, Kazakhstan, Kyrgyzstan, the Russian Federation, Tajikistan, Turkey, Turkmenistan, the United States and Uzbekistan. History The commission was first proposed in London in the summer of 1946 by the Temporary Subcommission on the Reconstruction of Devastated Areas. The commission was established by the Economic and Social Council on 28 March 1947 in order to "Initiate and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Straight Through Processing
Straight-through processing (STP) is a method used by financial companies to speed up financial transactions by processing without manual intervention. Background Straight-through processing exists in numerous areas of financial services, such as payments processing. Payments may be non-STP due to various reasons such as missing information, information which is not in a machine "understandable" form (such as name and address rather than a code), or human-readable instructions, e.g. "Please credit urgently") or simply falls outside of rules for which the bank allows automatic processing (for example, payments of large value or in exotic currencies). Traditionally, making payments involves many departments in a bank. Both initiating a payment to be sent and processing a received payment may take days. In the past, payments were initiated through numerous "human-friendly" (also known as paper-based) means, such as a human through a paper order, over the phone, or via fax. The payme ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
EDIFACT
United Nations/Electronic Data Interchange for Administration, Commerce and Transport (UN/EDIFACT) is an international standard for electronic data interchange (EDI) developed for the United Nations and approved and published by UNECE, the UN Economic Commission for Europe. In 1987, following the convergence of the UN and US/ANSI syntax proposals, the UN/EDIFACT Syntax Rules were approved as the ISO standard ISO 9735 by the International Organization for Standardization. The EDIFACT standard provides: * a set of syntax rules to structure data * an interactive exchange protocol (I-EDI) * standard messages which allow multi-country and multi-industry exchange The work of maintenance and further development of this standard is done through the United Nations Centre for Trade Facilitation and Electronic Business ( UN/CEFACT) under the UN Economic Commission for Europe, in the Finance Domain working group UN CEFACT TBG5. Example See below for an example of an EDIFACT message used ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Organization For Standardization
The International Organization for Standardization (ISO ; ; ) is an independent, non-governmental, international standard development organization composed of representatives from the national standards organizations of member countries. Membership requirements are given in Article 3 of the ISO Statutes. ISO was founded on 23 February 1947, and () it has published over 25,000 international standards covering almost all aspects of technology and manufacturing. It has over 800 technical committees (TCs) and subcommittees (SCs) to take care of standards development. The organization develops and publishes international standards in technical and nontechnical fields, including everything from manufactured products and technology to food safety, transport, IT, agriculture, and healthcare. More specialized topics like electrical and electronic engineering are instead handled by the International Electrotechnical Commission.Editors of Encyclopedia Britannica. 3 June 2021.Inte ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
UNECE
The United Nations Economic Commission for Europe (ECE or UNECE) is an intergovernmental organization or a specialized body of the United Nations. The UNECE is one of five regional commissions under the jurisdiction of the United Nations Economic and Social Council. It was established in 1947 in order to promote economic cooperation and integration among its member states. The commission is composed of 56 member states, most of which are based in Europe, as well as a few outside Europe. Its transcontinental Eurasian or non-European member states include: Armenia, Azerbaijan, Canada, Cyprus, Georgia, Israel, Kazakhstan, Kyrgyzstan, the Russian Federation, Tajikistan, Turkey, Turkmenistan, the United States and Uzbekistan. History The commission was first proposed in London in the summer of 1946 by the Temporary Subcommission on the Reconstruction of Devastated Areas. The commission was established by the Economic and Social Council on 28 March 1947 in order to "Initia ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
SWIFT
Swift or SWIFT most commonly refers to: * SWIFT, an international organization facilitating transactions between banks ** SWIFT code * Swift (programming language) * Swift (bird), a family of birds It may also refer to: Organizations * SWIFT, an international organization facilitating transactions between banks * Swift Engineering, an American engineering firm * Swift & Company, a meat processing company * Swifts (aerobatic team), a Russian aerobatic team Transportation companies * Swift Cooper, a British racing car manufacturer * Swift Leisure, a British manufacturer of caravans * Swift Motor Company, of Coventry, England * Swift Transportation, a US trucking company Places * River Swift, a river in England * Swift, Illinois, an unincorporated community in northeastern Illinois * Swift County, Minnesota, a county in west-central Minnesota * Swift, Minnesota, an unincorporated community in northern Minnesota * Swift, Missouri, a ghost town in southeastern Missou ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
ISO Member Bodies
The International Organization for Standardization (ISO ; ; ) is an independent, non-governmental, international standard development organization composed of representatives from the national standards organizations of member countries. Membership requirements are given in Article 3 of the ISO Statutes. ISO was founded on 23 February 1947, and () it has published over 25,000 international standards covering almost all aspects of technology and manufacturing. It has over 800 technical committees (TCs) and subcommittees (SCs) to take care of standards development. The organization develops and publishes international standards in technical and nontechnical fields, including everything from manufactured products and technology to food safety, transport, IT, agriculture, and healthcare. More specialized topics like electrical and electronic engineering are instead handled by the International Electrotechnical Commission.Editors of Encyclopedia Britannica. 3 June 2021.Internatio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
