We are of the view that this analysis applies equally where electronic commercial transactions and electronic signatures are concerned.

Indicators that will provide information on the prevalence of electronic trading include use of EDI in the sectors and prevalence of EDI Internet services between traders and service providers.

The electronic order management and trading system will streamline trading operations across multiple trading desks, security types and time zones.

b. Electronic order management and trading system ( 220,000)

The Central Police Service (CPD) is notified of suspect transactions electronically.

Box 6 A new EDIFACT compatible standard for ETOs

The High Court applied in its judgment the Singapore Electronic Transactions Act (ETA), which adopts the UNCITRAL Model Law on Electronic Commerce (MLEC).

E commerce continues to grow in most countries, although exact data on the value of transactions are not easy to obtain.

Electronic trading achieves transparency, security and control, and expedites the execution of all transactions.

The digital money business is built on the premise that electronic commerce will bring a boom in micro transactions .

The importance of telecommunications in the context of trade efficiency is obvious, particularly when electronic commerce is seen as one of the main means of trading in the future.

The unique nature of electronic dealings has made it necessary for the home pages of electronic sites to carry announcements and proposals to conclude a contract.

B. Electronic trade

His country had based its own Basic Electronic Transaction Act and Electronic Signatures Act of 1999 on the UNCITRAL Model Laws on Electronic Commerce and on the Electronic Signatures, thus demonstrating its commitment to the Commission's goals and guidelines.

It has been agreed that structured data sent between UNCTAD Trade Points, such as electronic trading opportunities, will use UN EDIFACT messages.

B. Electronic trade 37 40

(g) In the area of electronic commerce, the UNCITRAL Model Law on Electronic Commerce and the UNCITRAL Model Law on Electronic Signatures.

This new system provides customs administrations with a new generation of ICT tools targeting e business and e government processes and will allow Customs administrations and traders to handle most of their transactions via the Internet.

A single system for all trading improves trader productivity and performance by giving better access to liquidity pools through electronic communication networks and reduces trade failures through improved, straight through processing facilities.

Their knowledge of the international material rules that regulate the dealings of the international organization will therefore encourage them to conduct electronic commercial dealings.

The next step in UNCTAD s Trade Point strategy then became to move from this pre transactional role of Trade Points to a fully transactional role, which would turn the Trade Point network into the first global instrument for electronic commerce.

After the launching of the GTPNet at UNISTE (October 1994), it became clear that the size of GTPNet required that interchange standards be set for a variety of media (including fax, e mail and EDI).

Bermuda is implementing a strategic plan to turn the Stock Exchange into a modern, fully electronic offshore exchange.

Reference was made to EDI and the difficulties encountered when used in international trade because legal regimes did not cater for electronic trading.

For more information, see report of OECD Electronic Commerce Facilitating Collection of Consumption Taxes on Business to Consumer Cross Border Electronic Commerce Transactions .

Electronic technologies have facilitated the use of reverse auctions by greatly reducing the transaction costs.

Then, an increasing number of Trade Points started to use electronic mail systems for exchanging information.

For example, the increased speed of communication and electronic transactions can lead to faster decision making.

It also gave access to the most advanced technologies and services in electronic commerce.

This integral module completes the previously mentioned electronic trading system and allows the Investment Management Service and its Compliance Section to audit and set up more than 1,000 transaction rules.

This project will provide a trading system with integrated compliance and risk and cross asset class coverage, and cash management and electronic trading capabilities for improved, straight through processing.

VI. ELECTRONIC DATA INTERCHANGE 17

Early in 2005, the Government will analyse the feasibility of establishing an electronic stock exchange on St. Croix.

(b) improved trading conditions through the use of modern tools such as EDI

Trade facilitation is enhanced if enterprises can use electronic trading, but such trading may be limited by the current ability of trade related services to interact electronically (e.g. electronic declarations to customs).

The subprogramme will also support the efforts of member States to implement and monitor the commitments agreed upon at international conferences, in particular those related to the Programme of Action of the International Conference on Population and Development, the Madrid International Plan of Action on Ageing of the Second World Assembly on Ageing, as well as the relevant goals and objectives of the Millennium Declaration.

There was general agreement that the absence of a legal regime for digital and other electronic signatures might pose an impediment to economic transactions effected through electronic means.

Noting that an increasing number of transactions in international trade are carried out by means of electronic data interchange and other means of communication, commonly referred to as quot electronic commerce quot , which involve the use of alternatives to paper based methods of communication and storage of information,

UNCTAD was at the forefront in the dissemination of the use of international standards such as EDIFACT for ETOs, although in practice only around 10 per cent of ETOs respected the standards.

The degree to which traders are able to facilitate trade through effective trading systems and traders perceptions of electronic commerce will be assessed by including the following points in the questionnaire awareness of Trade Points use of Trade Points or similar electronic trading systems level of computer literacy and preparedness to make use of electronic trading and access to electronic trading and level of trade facilitation by electronic means.

E procurement is yet to be reflected in procurement policy and procedures manuals as an alternative method to manual transactions.

In view of the broad scope of activities covered by the Model Law and by possible future work in the area of electronic commerce, it was decided that the Working Group on Electronic Data Interchange would be renamed Working Group on Electronic Commerce . Official Records of the General Assembly, Fifty first Session, Supplement No. 17 (A 51 17), paras. 216 224.

Cf. Uniform Electronic Transactions Act of the United States of America Uniform Electronic Commerce Act of Canada European Directive 2000 31 EC articles 1108 1, 1316 1 et seq. of the Civil Code of France.

Model laws dealing with technology were specifically drafted on the following Electronic Transactions Electronic Evidence Freedom of Information Privacy and Computer and Computer Related Crimes.

Determining a place of business of a party to an electronic transaction has been addressed in article 6 of the draft convention on the use of electronic communications (see A CN.9 577).