The Guild of World Traders was formed in 1985 and it became a Company in 1993. Its petition for livery status was granted by the Court of Aldermen with effect from 2000. The Worshipful Company draws its membership from the international trade fraternity, with the aim of raising awareness and understanding of, and standards of practice in, world trade. The Company ranks 101st in the order of precedence of the City Livery Companies. Its motto is "Commerce and Honest Friendship with All", taken from Thomas Jefferson's inaugural Presidential speech.