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Commercial Trade Exchange Industry Receives Favorable Response From European Commission

Commissioner Michael Barnier, responsible for internal market and services in the European Commission, has provided a letter to both the IRTA Europe chairperson Dorottya Szaba and to David Wallach, president of the International Reciprocal Trade Association.

The letter outlines the recognition of a trade credit, i.e. when a trade exchange uses the IRTA �model contract� with their membership base for the clearing of goods and services. More importantly, it asserts that the trade credit will not be considered a security. This letter of announcement is a major advancement for the commercial trade exchange industry in Europe, because trade credits will not be considered a security.

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