Mostly… fixed income and cross product eTrading

June 19, 2007

Swift admits regulators

Filed under: Nuts and Bolts — holky @ 5:58 am

From Securities Industry news

Swift financial messaging cooperative has created a new participant category for financial market regulators to make it easier for institutitions to meet transaction reporting obligations that will be significantly increased under MiFID. “The category allows regulators to receive [a bank] identification code [BIC] from Swift that can be used by financial intermediaries to send their post-trade transaction reports through the Swift network,” says Andrew Douglas, the La Hulpe, Belgium-based organization’s director of market infrastructure initiatives.

Lazaro Campos, Swift’s CEO, said in a prepared statement, “The addition of financial market regulators to Swift is a tangible example of how we are helping our customers meet their regulatory requirements.” He said it ultimately makes it “easier for customers to do business” and “helps our strategy in support of European integration.”

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