Swift to provide post-trade matching with prime brokers

Swift already operates a similar service for foreign exchange, known as Accord, and expects the new platform to be in testing by the end of the year and functional in early 2009.

"We've been running Accord as a central matching service for FX for many years and when the prime brokers decided they needed a new solution, they came to us because they knew we'd be able to do it in a relatively short timeframe and at a competitive price," says Sam Romilly, program manager for equity and fixed-income