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List of Countries in the World

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1 Afghanistan South-Central Asia
2 Albania Southern Europe
3 Algeria Northern Africa
4 American Samoa Polynesia, Oceania
5 Andorra Southern Europe
6 Angola Central Africa
7 Anguilla Leeward Islands, Caribbean
8 Antarctica Antarctica
9 Antigua and Barbuda Leeward Islands, Caribbean
10 Argentina Southern South America
11 Armenia Western Asia
12 Aruba Leeward Islands, Caribbean
13 Australia Australia
14 Austria Western Europe
15 Azerbaijan Western Asia
16 Bahamas Caribbean
17 Bahrain Arabian Peninsula, Middle East
18 Bangladesh South-Central Asia
19 Barbados Lesser Antilles, Caribbean
20 Belarus Eastern Europe
21 Belgium Western Europe
22 Belize Central America
23 Benin West Africa
24 Bermuda North America
25 Bhutan South-Central Asia
26 Bolivia Central South America
27 Bosnia and Herzegovina Southern Europe
28 Botswana Southern Africa
29 Brazil Central Eastern South America
30 Brunei Darussalam Southeast Asia
31 Bulgaria Eastern Europe
32 Burkina Faso Western Africa
33 Burundi Eastern Africa, African Great Lakes
34 Cambodia South-East Asia
35 Cameroon Central Africa
36 Canada North North America
37 Cape Verde Western Africa
38 Cayman Islands Greater Antilles, Caribbean
39 Central African Republic Central Africa
40 Chad Central Africa
41 Chile Western South America
42 China Eastern Asia
43 Christmas Island Southeast Asia
44 Cocos (Keeling) Islands South-East Asia, Australia
45 Colombia North West South America
46 Comoros Eastern Africa
47 Democratic Republic of the Congo (Kinshasa) Central Africa
48 Congo, Republic of (Brazzaville) Central Africa
49 Cook Islands Polynesia, Oceania
50 Costa Rica Central America
51 Ivory Coast Western Africa
52 Croatia Southern Europe
53 Cuba Greater Antilles, Caribbean
54 Cyprus Mediterranean, Western Asia
55 Czech Republic Eastern Europe
56 Denmark Northern Europe
57 Djibouti Eastern Africa
58 Dominica Lesser Antilles, Caribbean
59 Dominican Republic Greater Antilles, Caribbean
60 East Timor (Timor-Leste) South-East Asia
61 Ecuador North West South America
62 Egypt Africa, Middle East
63 El Salvador Central America
64 Equatorial Guinea Central Africa
65 Eritrea Eastern Africa
66 Estonia Northern Europe
67 Ethiopia Eastern Africa
68 Falkland Islands Southern South America
69 Faroe Islands Northern Europe
70 Fiji Melanesia, Oceania
71 Finland Northern Europe
72 France Western Europe
73 French Guiana Northern South America
74 French Polynesia Polynesia, Oceania
75 French Southern Territories Southern South America, Antarctic
76 Gabon Central Africa
77 Gambia Western Africa
78 Georgia Western Asia
79 Germany Western Europe
80 Ghana Western Africa
81 Gibraltar Southern Europe
82 Great Britain Northern Europe
83 Greece Southern Europe
84 Greenland North America
85 Grenada Lesser Antilles, Caribbean
86 Guadeloupe Lesser Antilles, Caribbean
87 Guam Micronesia, Oceania
88 Guatemala Central America
89 Guinea Western Africa
90 Guinea-Bissau Western Africa
91 Guyana North Eastern South America
92 Haiti Greater Antilles, Caribbean
93 Holy See Southern Europe within Italy
94 Honduras Central America
95 Hong Kong Eastern Asia
96 Hungary Eastern Europe
97 Iceland Northern Europe
98 India South-Central Asia
99 Indonesia Maritime South-East Asia
100 Iran (Islamic Republic of) South-Central Asia
101 Iraq Middle East, Western Asia
102 Ireland Northern Europe
103 Israel Middle East, Western Asia
104 Italy Southern Europe
105 Jamaica Greater Antilles, Caribbean
106 Japan Eastern Asia
107 Jordan Middle East, Western Asia
108 Kazakhstan Central Asia
109 Kenya Eastern Africa
110 Kiribati Micronesia, Oceania
111 Korea, Democratic People’s Rep. (North Korea) Eastern Asia
112 Korea, Republic of (South Korea) Eastern Asia
113 Kuwait Middle East, Western Asia
114 Kyrgyzstan Central Asia
115 Lao, People’s Democratic Republic South-East Asia
116 Latvia Northern Europe
117 Lebanon Middle East, Western Asia
118 Lesotho Southern Africa
119 Liberia Western Africa
120 Libya Northern Africa
121 Liechtenstein Western Europe
122 Lithuania Northern Europe
123 Luxembourg Western Europe
124 Macau Eastern Asia
125 Macedonia, Rep. of Southern Europe
126 Madagascar Eastern Africa
127 Malawi Eastern Africa
128 Malaysia Southeast Asia
129 Maldives South-Central Asia
130 Mali Western Africa
131 Malta Southern Europe
132 Marshall Islands Micronesia, Oceania
133 Martinique Lesser Antilles, Caribbean
134 Mauritania Western Africa
135 Mauritius Eastern Africa
136 Mayotte Eastern Africa
137 Mexico North America
138 Micronesia, Federal States of Micronesia, Oceania
139 Moldova, Republic of Eastern Europe
140 Monaco Southern Europe
141 Mongolia Eastern Asia
142 Montenegro Southern Europe
143 Montserrat Lesser Antilles, Caribbean
144 Morocco Northern Africa
145 Mozambique Eastern Africa
146 Myanmar, Burma Southeast Asia
147 Namibia Southern Africa
148 Nauru Micronesia, Oceania
149 Nepal South-Central Asia
150 Netherlands Western Europe
151 Netherlands Antilles Caribbean
152 New Caledonia Melanesia, Oceania
153 New Zealand Oceania; Australia
154 Nicaragua Central America
155 Niger Western Africa
156 Nigeria Western Africa
157 Niue Polynesia, Oceania
158 Northern Mariana Islands Micronesia, Oceania
159 Norway Northern Europe
160 Oman Middle East
161 Pakistan South-Central Asia
162 Palau Micronesia, Oceania
163 Palestinian territories Middle East, Western Asia
164 Panama Central America
165 Papua New Guinea Maritime Southeast Asia, Melanesia, Oceania
166 Paraguay Central South America
167 Peru Western South America
168 Philippines Southeast Asia
169 Pitcairn Island Polynesia, Oceania
170 Poland Eastern Europe
171 Portugal Southern Europe
172 Puerto Rico Greater Antilles, Caribbean
173 Qatar Arabian Peninsula, Middle East
174 Reunion Island Eastern Africa
175 Romania Eastern Europe
176 Russian Federation Eastern Europe – Northern Asia
177 Rwanda Eastern Africa, African Great Lakes
178 Saint Kitts and Nevis Lesser Antilles, Caribbean
179 Saint Lucia Lesser Antilles, Caribbean
180 Saint Vincent and the Grenadines Lesser Antilles, Caribbean
181 Samoa Polynesia, Oceania
182 San Marino Southern Europe within Italy
183 Sao Tome and Principe Central Africa
184 Saudi Arabia Arabian Peninsula, Middle East
185 Senegal Western Africa
186 Serbia Southern Europe
187 Seychelles Eastern Africa
188 Sierra Leone Western Africa
189 Singapore Southeast Asia
190 Slovakia (Slovak Republic) Eastern Europe
191 Slovenia Southern Europe
192 Solomon Islands Melanesia, Oceania
193 Somalia Eastern Africa
194 South Africa Southern Africa
195 South Sudan East-Central Africa
196 Spain Southern Europe
197 Sri Lanka South-Central Asia
198 Sudan Northern Africa
199 Suriname North-Eastern South America
200 Swaziland Southern Africa
201 Sweden Northern Europe
202 Switzerland Western Europe
203 Syria, Syrian Arab Republic Middle East, Western Asia
204 Taiwan (Republic of China) Eastern Asia
205 Tajikistan Central Asia
206 Tanzania; officially the United Republic of Tanzania Eastern Africa
207 Thailand South-East Asia
208 Tibet South-Central Asia
209 Timor-Leste (East Timor) Maritime South-East Asia
210 Togo Western Africa
211 Tokelau Oceania/Australia
212 Tonga Polynesia, Oceania
213 Trinidad and Tobago Northern South America, Caribbean
214 Tunisia Northern Africa
215 Turkey Southeastern Europe, Western Asia
216 Turkmenistan Central Asia
217 Turks and Caicos Islands Caribbean, parts of the Bahamas island chain.
218 Tuvalu Polynesia, Oceania
219 Uganda Eastern Africa
220 Ukraine Eastern Europe
221 United Arab Emirates Arabian Peninsula, Middle East
222 United Kingdom Northern Europe
223 United States North America
224 Uruguay Central East South America
225 Uzbekistan Central Asia
226 Vanuatu Melanesia, Oceania
227 Vatican City State (Holy See) Southern Europe within Italy
228 Venezuela Northern South America
229 Vietnam South-East Asia
230 Virgin Islands (British) Lesser Antilles, Caribbean
231 Virgin Islands (U.S.) Lesser Antilles, Caribbean
232 Wallis and Futuna Islands Polynesia, Oceania
233 Western Sahara Northern Africa
234 Yemen Arabian Peninsula, Middle East
235 Zambia Eastern Africa
236 Zimbabwe Eastern Africa

Trading

Barclays announces new trade finance platform for corporate clients

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Barclays announces new trade finance platform for corporate clients 1

Barclays Corporate Banking has today announced that it is working with CGI to implement the CGI Trade360 platform. This new platform will provide an industry leading end-to-end global trade finance solution for Barclays clients in the UK and around the world.

With the CGI Trade360 platform, Barclays will provide clients with greater connectivity and visibility into their supply chains, allowing them to optimise working capital efficiency, funding and risk mitigation. By utilising cloud based functionality for corporate banking clients, Barclays will also be able to offer a leading client user experience through easy access and real-time integration to essential information, combined with the latest trade solutions as the industry-wide shift to digitisation continues to accelerate.

This move underpins Barclays commitment to supporting the trade and working capital needs of their clients and reinforces a commitment to innovation that has been central to the bank for more than 300 years.

James Binns, Global Head of Trade & Working Capital at Barclays, said: “We are delighted to announce our move to the CGI Trade360 platform and to have started the implementation process. We have a longstanding partnership with CGI, and the CGI Trade360 platform will mean we can continue delivering the best possible trade solutions and service to our clients for many years to come.”

Neil Sadler, Senior Vice President, UK Financial Services, at CGI, said: “Having worked closely with Barclays for the last 30 years, we knew we were in an excellent position to enhance their systems. Not only do we have a history with them and understand how they work, but part of the CGI Trade360 solution includes a proof of concept phase, which is essentially seven weeks of meetings and workshops with employees across the globe to guarantee the product’s efficiency and answer all queries. We’re delighted that Barclays chose to continue working with us and look forward to supporting them over the coming years.”

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What’s the current deal with commodities trading?

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What’s the current deal with commodities trading? 2

By Sylvain Thieullent, CEO of Horizon Software

The London Metal Exchange (LME) trading ring has been the noisy home of metals traders buying and selling for over a hundred years. It’s the world’s oldest and largest metals market and is home to the last open outcry trading floor. Recently however, the age-old trading ring, though has been closed during the pandemic and, just a few weeks ago, the LME announced that it will remain so for another six months and that it is taking steps to improve its electronic trading. This news fits in with a growing narrative in commodities about a shift to electronic trading that has been bubbling away under the surface.

Something certainly is stirring in commodities. The crisis has affected different raw materials differently: a weakening dollar and rising inflation risks bode well for some commodities with precious metals being very attractive, as seen by gold reaching all-time highs. Oil on the other hand has had a tough year and experienced record lows from the Saudi-Russia pricing war. It has been a turbulent year, and now prices look set to soar. While a recent analyst report from Goldman Sachs predicts a bullish market in commodities for the year ahead, with the firm forecasting that it’s commodities index will surge 28%, led by energy (43%) and precious metals (18%).

Increasingly, therefore, it seems that 2020 is turning out to be a watershed moment for commodities, and it’s likely that the years ahead will bring about significant transformation. And whilst this evolution might have been forced in part by coronavirus, these changes have been building up for some time. Commodities are one of the last assets to embrace electronic trading; FX was the first to take the plunge in the 90s, and since then equities and bonds have integrated technology into their infrastructure, which has steadily become more advanced.

The slow uptake in commodities can be explained by several truths: the volumes are smaller and there is less liquidity, and the instruments are generally less exotic, essentially meaning it has not been essential for them to develop such technology – at least not until now. This means that, for the most part, the technology in commodities trading is a bit outdated. But that is changing. Commodities trading is on the cusp of taking steps towards the levels of sophistication in trading as we see in other asset classes, with automated and algo trading becoming ever prominent.

Yet, as commodities trading institutions are upgrading their systems, they will be beginning to discover the extent of the job at hand. It’s no easy task to upgrade how an entire trading community operates so there’s lots to be done across these massive organisations. It requires a massive technology overhaul, and exchanges and trading firms alike must be cautious in the way they proceed, carefully establishing a holistic, step-by-step implementation strategy, preferably with an agile, V-model approach.

The workflow needs to be upgraded at every stage to ensure a smooth end-to-end trading experience. So, in replacement of the infamous ring, these players will be looking to transform key elements of their trading infrastructure, including re-engineering of matching engines and improving communications with clearing houses.

However, these changes extend beyond technology. For commodities players to make a success of the transformation in their community, exchanges need to have highly skilled technology and change the very culture of trading. All of which is currently being done against a backdrop of lockdown, which makes things much more difficult and can slow down implementation.

What is clear is that coronavirus has definitely acted as a catalyst for a reformation in commodities. It is a foreshadowing of what lies ahead for commodities trading infrastructure because, a few years down the line, commodities trading could well be very different to how it is now, and the trading ring consigned to history.

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Afreximbank’s African Commodity Index declines moderately in Q3-2020

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Afreximbank’s African Commodity Index declines moderately in Q3-2020 3

African Export-Import Bank (Afreximbank) has released the Afreximbank African Commodity Index (AACI) for Q3-2020. The AACI is a trade-weighted index designed to track the price performance of 13 different commodities of interest to Africa and the Bank on a quarterly basis. In its Q3-2020 reading, the composite index fell marginally by 1% quarter-on-quarter (q/q), mainly on account of a pull-back in the energy sub-index. In comparison, the agricultural commodities sub-index rose to become the top performer in the quarter, outstripping gains in base and precious metals.

The recurrence of adverse commodity terms of trade shocks has been the bane of African economies, and in tracking the movements in commodity prices the AACI highlights areas requiring pre-emptive measures by the Bank, its key stakeholders and policymakers in its member countries, as well as global institutions interested in the African market, to effectively mitigate risks associated with commodity price volatility.

An overview of the AACI for Q3-2020 indicates that on a quarterly basis

  • The energy sub-index fell by 8% due largely to a sharp drop in oil prices as Chinese demand waned and Saudi Arabia cut its pricing;
  • The agricultural commodities sub-index rose 13% due in part to suboptimal weather conditions in major producing countries. But within that index
    • Sugar prices gained on expectations of firm import demand from China and fears that Thailand’s crop could shrink in 2021 following a drought;
    • Cocoa futures enjoyed a pre-election premium in Ghana and Côte d’Ivoire, despite the looming risk of bumper harvests in the 2020/21 season and the decline in the price of cocoa butter;
    • Cotton rose to its highest level since February 2020 due to the threat of storm Sally on the US cotton harvest, coupled with poor field conditions in the US;
    • Coffee rose 10% as La Nina weather conditions in Vietnam, the world’s largest producer of Robusta coffee, raised the possibility of a shortage in exports.
  • Base metals sub-index rose 9% due to several factors including ongoing supply concerns for copper in Chile and Peru and strong demand in China, especially as the State Grid boosted spending to improve the power network;
  • Precious metals sub-index, the best performer year-to-date, rose 7% in the quarter as the demand for haven bullion continued in the face of persistent economic challenges triggered by COVID-19 and heightening geopolitical tensions. In addition, Gold enjoyed record inflows into gold-backed exchange traded funds (ETFs) which offset major weaknesses in jewellery demand.

Regarding the outlook for commodity prices, the AACI highlights the generally conservative market sentiment with consensus forecasts predicting prices to stay within a tight range in the near term with the exception of Crude oil, Coffee, Crude Palm Oil, Cobalt and Sugar.

Dr Hippolyte Fofack, Chief Economist at Afreximbank, said:

“Commodity prices in Q3-2020 have largely been impacted by COVID-19. The pandemic has exposed global demand shifts that have seen the oil industry incur backlogs and agricultural commodity prices dwindle in the first half of the year. The outlook for 2021 is positive however conservative the markets still are. We hope to see an increase in global demand within Q1 and Q2 – 2021 buoyed by the relaxation of most COVID-19 disruptions and restrictions.’’

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