Latest Financial messaging News: Finextra Research

MEPs vote in favour of suspending Swift data sharing deal; call for on-site investigation

European parliamentarians have voted in favour of suspending the EU/US bank data sharing deal in response to the US National Security Agency's alleged tapping of messages transmitted over the Swift banking network.

24 October 2013

News/Financial messaging

CameronTec agrees Greenline acquisition

Sweden's CameronTec has signed a definitive agreement to buy US FIX and electronic trading tech specialist Greenline Financial Technologies from MarketAxess. Financial terms were not disclosed.

02 October 2013

News/Financial messaging

MEPS to debate NSA tapping of Swift data

European politicians are to debate the purported tapping by the US National Security Agency of bank-to-bank payments messages sent over the Swift network.

23 September 2013

News/Financial messaging

Swift bids to carve out space in regulatory compliance

Financial messaging network Swift is looking to extend its remit to the emerging regulatory landscape, pitching its shared market infrastructure as a cost-effective means for financial institutions to ease the compliance burden.

17 September 2013

News/Financial messaging

SIX Securities Services chooses Swift for T2S connectivity

SIX Securities Services, the CSD group for Switzerland, has signed up to Swift's Value Added Network (VAN) to connect to Target2Securities.

16 September 2013

News/Financial messaging

Bottomline buys Sterci and Simplex

Bottomline Technologies is increasing its presence in the financial messaging arena with the acquisitions of Swiss outfit Sterci and London-based Simplex. Financial terms have not yet been disclosed.

21 August 2013

News/Financial messaging

Fidessa opens FIX Post-trade Confirmation Hub

Fidessa has opened a Post-trade Confirmation Hub which allows buy-side and sell-side firms to confirm trades between themselves via the open source messaging protocol FIX.

01 August 2013

News/Financial messaging

Back office costs for T2S to run as high as EUR27 million

European banks and broker-dealers are lagging in their understanding of the impact of the European Central Bank's plans for harmonising settlement under the Target2Securities platform, with migration costs for back offices estimated at anywhere between seven million euros and EUR27 million.

06 March 2013

News/Financial messaging

Citi implements corporate-to-bank Swift standard for trade

Citi has rolled out the corporate-to-bank Swift Message Type (MT) 798, in a move that the US giant says will support its multinational clients in their trade flows.

13 February 2013

News/Financial messaging

Swift's bid to move into domestic markets comes good in India

Swift is moving into the domestic Indian market, thanks to a joint venture that will see six partner banks build a financial messaging system for the country.

30 October 2012

News/Financial messaging

Banks announce support for SAP corporate cloud messaging network

Bank of America Merrill Lynch, The Bank of Tokyo-Mitsubishi UFJ, Citi, Deutsche Bank, Nordea, Royal Bank of Scotland and Standard Chartered Bank have announced their involvement in the development of the SAP Financial Services Network (FSN), a cloud-based corporate-to-bank connectivity platform.

29 October 2012

News/Financial messaging

Swift taps SmartStream for Accord Matching overhaul

Financial messaging network Swift has enlisted SmartStream Technologies for an overhaul of its Accord confirmation matching engine.

29 October 2012

News/Financial messaging

JPMorgan signs for Swift's MyStandards tool

JPMorgan has become the first global bank to sign up to the new Web-based standards management package developed by interbank network Swift.

04 October 2012

News/Financial messaging

Swift goes on hiring spree for new Apac corporate hub

Interbank messaging network Swift is establishing a corporate hub in Asia Pacific, at sites in Kuala Lumpur and Singapore, employing 100 people.

26 September 2012

News/Financial messaging

DTCC and Swift launch CFTC LEI portal

A Web portal for assigning Commodity Futures Trading Commission (CFTC) identifiers to firms involved in OTC derivatives trading has gone live.

21 August 2012

News/Financial messaging

Standard Chartered shares tumble on Iran allegations

Shares in Standard Chartered fell more than 20% in morning trading after a US regulator accused the bank of falsifying thousands of Swift wire payment directions to help hide $250 billion in transactions linked to Iran.

07 August 2012

News/Financial messaging

Swift faces lock-out from LEI roll-out

The Financial Stability Board has abandoned plans for a global registration authority for Legal Entity Identifiers in favour of a federated network, dealing a hammer blow to the ambitions of interbank messaging network Swift to play a central role in the roll out of the new standards.

04 May 2012

News/Financial messaging

In 'unprecedented' step, Swift cuts off Iranian banks

Under orders from the EU, Swift has taken the unprecedented step of cutting off its financial messaging network to Iranian banks subject to European sanctions.

15 March 2012

News/Financial messaging

With LEI's in train, banks could soon go the way of record labels says senior BofE exec

The introduction of a common global language for financial counterparties and products could ultimately lower barriers to market entry and make some bank functions surplus to requirements, a senior Bank of England policy maker says.

15 March 2012

News/Financial messaging

Swift introduces cloud-based connectivity

Financial messaging network Swift is preparing to upgrade its Alliance Lite system, bringing the option of cloud-based connectivity to most customers.

01 March 2012