SOCAR Trading is the trading arm of the State Oil Company of Azerbaijan Republic (SOCAR). This sovereign-owned business markets SOCAR crude oil export volumes, trades third party crudes and oil products, and manages international investments in downstream.1
Headquartered in Switzerland, SOCAR Trading operates from offices in all major commodity trading hubs across the world. SOCAR Trading’s treasury, based in Dubai, manages time-sensitive cash flow movements for the group through a complex bank account structure, setup across multiple jurisdictions.
In recent months, SOCAR Trading has invested considerable time and resources in risk management, control and compliance, spearheaded by the implementation of sophisticated IT support systems.
J.P. Morgan equipped SOCAR Trading with our Insight API solution, a Microsoft Excel® plugin. APIs facilitate the sharing of data between two or more systems and this solution uses the J.P. Morgan Treasury Services API as the foundation for sharing real-time, on-demand data from J.P. Morgan systems.
J.P. Morgan’s Insight API solution provided us with the agility, transparency and adaptability we needed to access timely information on our cash balances and other bank data. We are pleased to have partnered with J.P. Morgan to become early adopters of API for our business.
To learn more about how we can support your business, please contact your J.P. Morgan representative.
Unilever also employed the Insight API plugin to build a real-time treasury: It gave them on demand access to 130 accounts in just 10 days.
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