Industrial Bank's Energy Exchange Center Successfully Launched
January 19, 2010, the Industrial Bank's Energy Exchange Center was successfully launched with a bang, with over 100 dealers signing-up on the very first day. This is the first industrial electronic commercial exchange platform in Fujian Province.
Based on an industrial electronic commercial platform developed by the Industrial Bank, the Industrial Bank's Energy Exchange Center provides clients with online commercial services for spot, medium-term and forward stock transactions in the coal industry. This Exchange Center is based upon several systems including membership, margins and commissioned settlement. It is supplemented by the functions of transaction capital management and online cash-in and cash-out. This ensures real-time clearing and capital security in dealer investment, hedging and spot transactions. The provision of capital leverage function maximizes the investment returns of the dealers. Transparency of trading prices and supply information assures the fairness, justice and openness of the trading process. The standardization of energy trading inhibits fluctuation in energy prices and ensures the sustainable development of energy sources. The launch of this Exchange Center represents the birth of an industrial electronic commercial market that is not limited by the factors of time and space, that is based in the regional market of Fujian Province and that will exert an influence of the sale and transport of coal and building materials nationwide.
It iI It is understood that the industrial electronic commercial platform has been designed and launched by the Industrial Bank as an e-banking service that aims to meet the demands for online trading among industrial electronic commercial enterprises and organizations in addition to the capital regulatory requirements of the Exchange Center.The The primary aim is to realize the safe and orderly flow of capital on the trading platform and effectively resolve the key problem faced in current electronic commerce, namely, online settlement. Additionally, such business has numerous advantages: firstly, capital can be transferred in a self–service manner, with simple procedures and real-time receipt. Capital can be safely and quickly transferred between dealers' bank accounts and trading capital accounts in their respective names on the electronic commercial platform; secondly, the platform boasts wide coverage and easy activation. Dealers are only required to complete an Application Form of Industrial Bank for the Capital Transfer Business of Industrial Electronic Commerce at an outlet of the Industrial Bank along with valid proof of identity to gain access to professional services; thirdly, it can provide the regulation of account capital and more enhanced security. TheIndustrial Bank will carry out closed-end management over trading accounts and trading capital in the industrial electronic exchange market. It will also provide comprehensive inquiry services.
In recent years, the Industrial Bank has made constant efforts in the innovation of e-banking. It has successfully established a comprehensive e-banking service platform combining the three brands of “Online CIB” internet banking, “Hotline CIB” telephone banking and “Wireless CIB” mobile phone banking. The bank has also actively developed electronic commerce, and has taken innovative steps to launch the interbank online payment platform, online enterprise alliance service platform, industrial electronic commercial service platform and the Industrial Bank Online Mall. Thanks to the outstanding functions and leading service concepts of the bank's e-commerce platforms, the Industrial Bank has been awarded numerous accolades in third-party appraisals. Moreover, the Industrial Bank is also establishing wide strategic alliances, advancing integrated business, expanding electronic banking services and seeking to increase service added value so as to provide e-banking services that satisfy all customer demands.