Swift Eyes Multi-CCP Link

In an initiative set to launch in the first part of 2011, industry messaging cooperative Swift plans to link its Accord for Securities global central trade-matching platform to multiple central clearing counterparties, say Swift officials.

This would allow broker-dealers to specify which central counterparty (CCP) they want to clear their matched trades by using the MT 518 message transmitted via the Swift network. In turn, the CCP would accept or reject the confirmation message using the MT 509

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