Mercuria CSR Report 2021 - Flipbook - Page 90
Mercuria is a founding member of VAKT which was incorporated in 2018 to
create a single source of truth for commodity transactions, including terminals
and inspectors along the supply chain of oil trades, and in order to create a
single digital record for each trade and a secured mechanism to authenticate
bilateral transactions. Beside increasing trade volumes and adoption in 2021,
VAKT also extended its offering with trade pairing and confirmation facility
(vSure) as logistics facility (vLogistics).
The use of logistics features shows that physical operators are getting more comfortable with the VAKT
process for their physical deliveries. Additionally, a number of terminals are receiving nominations from
VAKT customers.
VAKT expands also its collaboration with Price Rating Agencies (PRAs) and working on a seamless
integration with customer’s Commodity Trading and Risk Management (CTRM) platforms.
Komgo provides four solutions to the market covering a broad scope of activities
including trade finance, receivable discounting, documentation validation and
KYC. Mercuria has been an initial investor and early user of a number of these
products to assist in the adoption to the broader market. Komgo has grown in
a few short years to be the leading trade finance solution in the commodities
markets and is used by over 25 large trade finance banks and 100 corporates.
Mercuria was also the principal user of its document authentication system, Trakk. This reduces the
ability for invoices or other documents to be amended once issued, thereby reducing fraud. The Komgo
business operates on a global scale with offices in US, London, Geneva and Singapore with some of the
largest banks, corporates and commodity traders all active users.
SOCIAL
PROJECTS
Mercuria remains dedicated to improving the welfare of our wider communities. We successfully
executed several social projects in 2021 which were all designed to meet our key objective of
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