Swift Targets Securities, Admits Brokers As Members


The Society for Worldwide Interbank Financial Telecommunication, the Brussels-based banking cooperative that dominates global funds transfer, is moving to fill the vacuum in international securities clearing and settlement.

Through SWIFT Service Partners, the global network has admitted brokerage firms, exchanges, clearing houses and depositories to its membership. As of June 30, 16 U.S. and European securities firms, three exchanges and six central depositories and/or clearing houses had

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