The Bank of China BOC implemented the first direct connection over Swift's trade services utility TSU last year. While the connection with the Bank of Tokyo Mitsubishi UFJ remains in a testing phase, representatives of both institutions have high hopes that it will provide them with access to the previously direct buyer-seller payments of open account trade transactions.
Wang Guosheng, general manager of global trade services at BOC, discusses his institution's experience with getting TSU up and running.
Since you signed the agreement with Bank of Tokyo Mitsubishi UFJ, how has it changed the way BOC uses TSU and processes open account trade transactions
We actually had effective cooperation...
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