HSBC Adopts Swift FX Business Insight Information Service

New service allows for continuous FX business performance measurement over time based upon activity share.

forex

HSBC has become the first bank to adopt Swift’s FX Business Insights information service, which provides continuous foreign-exchange (FX) performance measurement functionality.

The Swift service measures FX performance in metrics from transactions, as opposed to other survey-based information. It is derived from Swift messaging that supports the legal confirmation process for the global FX markets. The Swift service covers over 133 currencies across 219 countries and territories.

"SWIFT has a unique data set and the aggregated data and insights they produce are valuable additional information for HSBC, and are helping us in our goal to constantly improve our client proposition," said Frederic Boillereau, head of global foreign exchange & commodities and head of Global Markets Corporate Services at HSBC, in a statement.

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