SFX – exchange trading documents within 24 seconds, not hours
Trading documents remain paper based. Leveraging Confidential Computing at Swisscom, our cloud platform cryptographically secures the exchange and transfer of trading documents to your counterparties. Securely, privately and quickly!
The key features of SFX
Simultaneous document exchange
SFX Exchanges orchestrates simultaneous disclosure of documents between two parties. The platform allows a user to upload their documents and begin an exchange simply by sending it to their counterparty's email address. The document will remain inaccessible, until the counterparty uploads their respective document, upon which both are released simultaneously. It is also possible to send exchanges to unregistered users what makes SFX viral as leveraging SFX for new users is easy and simple.
Securely transfer documents
SFX Transfers offers a simple, but highly secure mechanism for sending documents to other parties. Each document can be tracked and managed to ensure both parties acknowledge receipt and email notifications alert users when a new Transfer has been received. Both parties can keep in touch via an integrated chat messenger. It is a simple but highly effective way to ease inefficiencies in business processes that require sending documents to counterparties such as banks, insurances and suppliers.
Smarter management
SFX helps you to seamlessly manage your organisation - create new teams, invite and delete members. The team management section has a dynamic and immersive look to easily navigate and perform smarter management. The built-in-chat functionality also eliminates the need for separate E-mail communications.
A well-designed interface is optimized for the intuitive experience that powers the entire platform. Everything, from the registration to orchestrating an exchange, has been designed to provide the best experience of digitally exchanging assay certificates and/or transferring confidential information in a safe way. The intuitive navigation eliminates the need for training and the built-in Help Center section provides assistance if necessary.
How our customers leverage SFX
Exchange in Commodities Trading
Metal and soft commodities trading often involve processes whereby documents need to be simultaneously exchanged. For example, inspector quality reports or contracts between two trading counterparties. Traders can easily upload their respective documents to SFX without a need for courier services. The documents will stay locked in the system, until both parties have uploaded their respective documents.
Transfer in Trade & Finance
SFX Transfers enables the secure sending of the common documents needed to facilitate the financing and insurance processes within trade. SFX Transfers has been applied to manage the sending and receipt of trade finance documents to support the processes such as the management of credit and insurances. The advantage here is that the traders can ensure all information is received by trade finance departments quickly, thus reducing lead time that can cause them costly delays.
Invoice management
With an increase of fraud has grown in, a number of our customers are leveraging SFX transfers for securely sending invoices directly to their suppliers to help eliminate significant fraud. Phishing scams or email spying techniques often intercept payment instructions to fraudulent accounts. This process is secure, and the files sent via SFX can only be decrypted by the respective receivers and with no threat of external parties intercepting the content for the purposes of tampering by fraud.
Swiss confidentiality
The data managed within SFX is operated by Swisscom and hosted in tier 4 banking grade data centers in Switzerland
No courier services
Documents can be sent directly via SFX to counterparties without a need for courier services.
Secure messenger
SFX provides the full protection enabled by the end-to-end encryption.
Cost savings
SFX can be leveraged to reduce business inefficiencies and hence offer both cost and time savings to our customers.
Swisscom ensures your privacy
Combining the best-in-class privacy protection techniques for data, Swisscom ensures that trading documents are kept private and confidential. With a privacy-first approach SFX provides the full protection enabled by the end-to-end encryption and creates value by building trust for the industry with the assurance that all data will remain undisclosed to anyone apart from the owners of the documents and acknowledge individuals part of a a given trade.
Confidential Computing
SFX has been developed on a Confidential Computing Network. Confidential Computing is powered by Intel SGX processors, which use secure enclaves (Trusted Execution Environments) to ensure that all data being managed remains encrypted at rest, at run time and whilst being processed in memory. The data is only ever decrypted at the terminal of a user, this all information remains confidential to everyone, including the data center provider.
Smart Contracts
Smart contracts are a means of making business processes automated and transparent by Blockchain. Smart Contracts became very popular by the notion that they audit and track all activity, hence facilitating a tamperproof ledger. SFX uses smart contracts to ensure all business logic is made transparent and all activity is audited. They also use approaches like escrow to support our SFX Exchanges feature.
Swisscom
As the leading ICT company in Switzerland directly and through our partners, we are driving the move to Industry 4.0, employing technologies such as IoT, big data management and analytics, machine learning and artificial intelligence as well as infrastructure solutions such as our 5G network. Swisscom are a member of the confidential computing consortium, as well as other privacy enabling groups across leading universities and start-ups.
Secretarium
Secretarium is a London based start-up, pioneering in the space of Confidential Computing with their distributed smart contract based platform. Utilising the Intel SGX processor to deliver one of the worlds scalable and pragmatic confidential computing networks for delivering privacy enabled applications for industry.
Intel
Intel as the world’s leading processor manufacturer, have long since established themselves as a dominant force in computer processor technology. Intel SGX, the leverage of Trusted Execution Environments, has been lead and driven by Intel and they are not driven towards establishing industry wide standards for Confidential Computing.