Swift Gets Criticized By UK Industry User Group, Thomson And Others

VENDOR STRATEGIES

Representatives of the UK-based Industry User Group (IUG) and a group of three IUG-endorsed electronic trade confirmation (ETC) system vendors have expressed their dissatisfaction at having been excluded from Swift's ETC business planning process. The group's announcement of its position came in advance of an upcoming vote by Swift to firm up its own ETC plans.

The complaints were leveled at a New York-London video press conference convened by the IUG on May 22. Senior IUG executives were

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