Financial messaging

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/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.

/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.

/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.

/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.

/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.

/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.

/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.

/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.

/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.

/Financial messaging

FSB establishes LEI and CCP working groups

The BIS-backed Financial Stability Board has set up a working group to deliver concrete recommendations on governance issues relating to the management of new Legal Entity Identifiers (LEI) in the global securities markets.

/Financial messaging

Dion buys controlling stake in Swissrisk

Dion Global Solutions has acquired a controlling stake in Frankfurt-based Swissrisk Financial Systems. Terms of the deal were not disclosed.

/Financial messaging

SEB on the politics & technology of T2S

Göran Fors, Global Head of GTS Banks at SEB comments on the Target2Securities pessimism and preparing for the massive changes it will bring to the European post-trade space.

/Financial messaging

BNP Paribas and Bottomline form UK and Ireland Swift Service Bureau partnership

BNP Paribas Cash Management and Bottomline Technologies have formed a Swift Service Bureau partnership in the UK and Ireland.

/Financial messaging

Financial messaging and standards

Chris Pickles, head of Industry Initiatives - Global Banking & Financial Markets at BT, talks about whether ISO 20022 is one standard to solve all problems at Sibos 2011.

/Financial messaging

Firms urged to begin IT prep for handling LEIs

Delegates at the annual user conference of financial messaging body Swift were given more information about the development of the legal entity identifier (LEI) messaging standard designed to produce an electronic tag for the counterparties in all securities transactions

/Financial messaging

Swift's MyStandards pilot moves into live production

Financial messaging network Swift has announced that its MyStandards project is now recruiting users after completing a closed pilot phase.

/Financial messaging

Earthport and IPFA collaborate on untapped cross-border payments market

UK-based payments shop Earthport is to adopt the standards laid down by International Payments Framework Association (IPFA) as part of an international drive to meet small business demands for more efficient cross-border payments services.

/Financial messaging

Payment investigations initiative hampered by slow corporate uptake

A bank-led initiative to develop a utility model for end-to-end automation in the payment investigations process is being held back by a lack of corporate involvement.

/Financial messaging

Banks sceptical about meeting 2014 Sepa compliance deadline

Bankers and corporates do not expect to meet a 2014 deadline for Sepa compliance, according to a straw poll of delegates conducted during a panel discussion of the controversial payment initiative at the annual congress of banking co-operative Swift.

/Financial messaging

SunGard to buy Swift service bureau Syntesys

SunGard has reached an agreement on the acquisition of Syntesys, a European Swift service bureau, in a bid to expand its outsourcing service for corporate to bank messaging.