The great inflation

It is a hallmark of a market economy that if something appears to work from a commercial point of view, a gold rush inevitably follows: either more companies look to get into a particular sector, or the existing companies work out more ways to exploit their market.

So it is with awards among trade finance publications. Post-financial crisis, the market is suddenly awash with ‘Leaders in Trade’ and ‘Awards for Excellence’ (among others) in addition to the long-standing regular award schemes. On top of that, they’re frequently sliced and diced on a regional or sectoral basis – someone, surely, must be the proud owner of an award for ‘Best Trade Finance Law Firm in Micronesia’?

At TFR, we can’t see the point of running ever-more industry awards. Who wants to read 30+ write-ups about the award for ‘Best Trade Bank in the Arctic Circle’, ‘Most Innovative Inuit Trade Bank’ or a Deal of the Year for a ground-breaking guano pre-export finance deal?

There are also potential conflicts of interest when the judging mechanism is opaque. That is why the TFR Deals of the Year Awards are selected by a named judging panel, while the TFR Awards in this issue were decided solely by your votes. And this year, we’re publishing vote shares so that everyone can see how well the top-three did.

Boring as it sounds, we don’t have any plans to add to those two awards either. We’re not sure that readers want to read about the latest round of awards in every issue. Besides, every gold rush-style boom is inevitably followed by a bust – leaving only the quality products surviving…

Graeme Burton
Managing editor

Features

Sponsored comment from SmartStream Technologies Free
SmartStream’s Eric VanSteen examines the key factors driving investment in trade finance automation and integration.

IFA Conference, Berlin 2010 Free
This year’s IFA Annual Conference will be in Berlin, a stone’s throw from the famous Brandenburg Gate.

Regulars

Marsh: Credit Risk Appetite for Emerging Markets – July 2010 Free
We have seen a continuation of price reductions in the private insurance market over the past month, including Turkey, China, Algeria, Nigeria, Kenya, Brazil, Pakistan and Sri Lanka.

Omni Bridgeway: Emerging market debt pricing Free
Emerging market debt pricing figures from Omni Bridgeway.

Omni Bridgeway Commentary Free
New sanctions imposed by the United Nations Security Council on 9 June could present trade partners and investors in Iran with considerable uncertainty.

The last word: Dog show Free
Austerity is breaking out in Europe, as indebted states line up in a beauty contest to keep their credit lines open and their credit ratings up.

The art of forfaiting: Forfaiting and Islamic finance Free
How easily does forfaiting fit into Islamic trade finance, asks Richard Willsher.

SWIFT scene: SWIFT, trade and supply chain Free
In the first SWIFT scene column, Nicola Boothby analyses the drivers of change that have led to a recent renaissance in the trade and supply chain business.

60-second interview: Kimberly Wiehl, Berne Union Free
Kimberly Wiehl, Secretary-General, Berne Union looks back on a tumultuous year in trade.