SWIFT’s Role in Industry Standards Development is a Benefit That Should be Leveraged and Protected

Mary Knox

10/06/2008
(Original Publish Date: 6/26/2007)

SWIFT is an industry-owned cooperative, supplying secure, standardized messaging services and interface software to financial institutions, and it is the primary carrier for international interbank payment information. In recent years, after opening up its membership to brokerdealers and investment managers, SWIFT has become a major carrier of securities messaging, primarily related to post-trade, clearing and settlement, and custody and asset servicing activities. Currently, almost 40% of the messaging traffic carried over SWIFTNet, the SWIFT-operated industry network, comprises Category 5 securities market messages.