Financial messaging network Swift has enlisted SmartStream Technologies for an overhaul of its Accord confirmation matching engine.
SmartStream will provide a number of underlying components of the updated platform, including elements of its Transaction Lifecycle Management suite.
The revamped system, set to launch in early 2014, will give customers a level of personalisation previously only available with onsite systems, claims the vendor.
The platform will also support all commonly traded instruments, allow for the rapid addition of new asset classes, and provide value added features such as an affirmation model as well as fax and e-mail processing.
Javier Perez-Tasso, head, marketing, Swift, says that regulatory pressure and the increasing complexity of traded instruments means that post-trade processing is once again a top priority.
"We are delighted to work with SmartStream to deliver a cloud-based solution that will reduce the cost per trade, through a significant increase in operator efficiency," he adds.