Swift to Extend Old Standard and Charge Late Adopters
OPERATIONS AND STP
BRUSSELS--Swift, the industry-owned financial messaging firm, is worried that banks will not be ready for the changeover to a new ISO 15022 messaging standard in November, and it is preparing to offer continued support for the old ISO 7775 messaging standard beyond its planned phase-out date. It will also impose penalty charges on firms that do not comply to the new standard.
Swift officials say that even though users representing 90 percent of Swift traffic are either live on or testing ISO
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: https://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Trading Tech
ISS Stoxx’s new analytics, S&P and Kaiko launch joint indexes, and more
The Waters Cooler: A recap of the major tech and data news from the past week in the capital markets.
Photonics: time for trading tech to see the light
The Waters Wrap: While the sector is dominated by Big Tech, photonic-based solutions could one day help trading firms take more control over their AI ambitions, Anthony says.
Fully electronic IPOs, Google Gemini for finance, and more
The Waters Cooler: A recap of the major tech and data news from the past week in the capital markets.
Navigating the MarketAxess ICE storm
The Waters Wrap: Most of the discussion surrounding ICE’s MarketAxess buy has focused more on benefits for the front office than the data possibilities.
On vibe coding, no/low-code dev, and some potential misconceptions
The Waters Wrap: Is no-code/low-code even a thing anymore? Not really. But the companies that championed those terms just a few years ago tell Anthony they aren’t going anywhere.
SEC gunning to take over CAT in 2027
Chairman Atkins has plans for the SEC to run the Consolidated Audit Trail directly. Industry participants are split on the idea.
Rapid-fire repo raises hopes of cheaper, faster trading
Tokenized Treasuries piloted by DTCC could squash settlement cycles and enable 24/7 repo.
Stopgaps and fail-safes: How trading vendors guard against rogue AI agents
TradeStation’s newest trading tool, Titan-X, uses agentic tools to help plan, execute, and collect data on trades.
