Exclusive: BP completes first automated multi-bank BPO

BP Petrochemicals transacted the first automated multi-bank bank payment obligation (BPO) over the last week of April for a Europe-centred transaction.
Exclusive: BP completes first automated multi-bank BPO
By Dan Bland
May 7, 2014
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BP Petrochemicals has implemented the first ever multi-bank BPO under Universal Rules for Bank Payment Obligations (URBPO), CT has learnt. The trade was completed in the last week of April by transacting a BPO involving a different recipient and obligor bank.

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