SwiftRef, the product suite intended to eliminate payment errors caused by poor data quality and to increase straight-through processing (STP), is to serve as a comprehensive offering bringing together multiple data functions, according to Patrick Neutjens, head of reference data at Swift.
“Last year, we didn’t have SSI directories. We had a limited number of national codes. Cross-referencing between BICs [bank identification codes] and national codes wasn’t as sophisticated as it had to be,” he
James talks about his trip to Chicago and some of the interesting topics that came up (including a look at disaster recovery demands). Then Anthony and James touch on ISDA's initial margin rules, with Phase 3 going live next year.Subscribe to Weekly Wrap emails