Most of MRI TRADING AG trading is done from emerging markets whereby MRI Trading AG’s client require some short to medium term period working capital solutions linked to the commercial off-take contract entered with MRI TRADING AG. This translates by organizing some pre-delivery financing solutions which means that in essence there is a requirement under the relevant commercial off-take contract to pay for part of the expected quantity of material to be delivered before it is actually produced and delivered to MRI TRADING AG. Via evaluating, negotiating and implementing adequate financing solutions, MRI TRADING AG Structured Commodity Finance team is able to arrange such financing for some of its clients’ base. These days, about 1/3 of our total business is done by some form of structured commodity finance.