Chase Joins bolero.net - Sets the Stage for the Full Electronic Delivery of Global Trade.Business Editors NEW YORK--(BUSINESS WIRE)--June 6, 2000 The Chase Manhattan Bank The Chase Manhattan Bank, now part of JPMorgan Chase, was formed by the merger of the Chase National Bank and the Bank of the Manhattan Company in 1955. The bank is headquartered in New York City. , lead subsidiary of The Chase Manhattan Corporation The Chase Manhattan Corporation was a bank holding company formed as parent of the Chase Manhattan Bank. During its time as the parent company, it was led in succession by David Rockefeller, Willard C. Butcher, and Thomas G. Labrecque. (NYSE NYSE See: New York Stock Exchange : CMB Noun 1. CMB - (cosmology) the cooled remnant of the hot big bang that fills the entire universe and can be observed today with an average temperature of about 2. ) today announced that it has joined bolero bolero (bəlâr`ō), national dance of Spain, introduced c.1780 by Sebastian Zerezo, or Cerezo. Of Moroccan origin, it resembles the fandango. .net, the global trade organization that is setting the standard for moving international trade online. Chase, the first to offer online trade with its proprietary TradeDoc service, is leading the way towards universally accepted trade standards, an important step toward the end goal of e-enabling the classical trade service. "Our joining Bolero is an integral part of e-enabling Chase trade services and exemplifies Chase's commitment to re-define the marketplace for the New Economy." said Patrick Mahanger, Vice President, Chase Treasury Solutions. "Chase Treasury Solutions is repositioning repositioning Laparoscopic surgery The changing of a Pt's position during a procedure to improve access or visualization of the operative field, which may be linked to complications, as it changes anatomic planes of operation. Cf Laparoscopic surgery. its global trade service to facilitate migration of commerce to the net to speed communication, enhance security, mitigate risk, and streamline processing for virtually all participants." Chase expects that initiatives such as Bolero will ultimately lead to a transformation of the trade process. Trade has traditionally involved the physical creation and movement of documents between various partners. bolero.net, using the Internet backbone (communications, networking) Internet backbone - High-speed networks that carry Internet traffic. These communications networks are provided by companies such as AT&T, GTE, IBM, MCI, Netcom, Sprint, UUNET and consist of high-speed links in the T1, T3, OC1 and OC3 ranges. , creates numerous potential advantages: replacing paper with electronic communication, reducing error rates, eliminating redundant data entry and accelerating document availability, reducing processing time resulting in positive impacts on inventory and funding requirements, and efficiently reaching counter-parties and service providers. It is bolero.net's objective to provide an interoperable system that minimizes the efforts necessary for communication between the sender and receiver. Created by the world's logistics and financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. communities, bolero.net presents clients with an opportunity to use a common, open system to exchange documents via the Internet, taking advantage of the speed, accuracy and efficiency of e-commerce. About The Chase Manhattan Corporation The Chase Manhattan Corporation (www.chase.com) is a premier global financial services firm with assets in excess of $390 billion. Chase combines the best of commercial and investment banking, offers world-class information and transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. services, and has a leading U.S. consumer franchise that serves 32 million customers. Through its newly formed business unit Chase.com, Chase is successfully creating innovative business models for the New Economy. Chase, with offices in more than 45 countries, has a presence in all of the principal financial centers around the world. About bolero.net bolero.net, launched at the end of September 1999 by the logistics and banking communities, is a global initiative to move trade onto the Internet. The Bolero System provides secure electronic transmission of business data and documents along the entire trade chain from front end order processing and management to backend trade document exchange. |
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