In its 2003 report, the Giovannini Group, as advisor to the European Commission, published a report identifying 15 barriers to efficient EU cross-border clearing and settlement.
SWIFT is working to help the industry understand the operational impact of regulatory change and reduce the total cost of ownership (TCO) of compliance.
SWIFT supports SEPA by developing standards and providing a set of products and services to facilitate operation and interoperability across the industry.
TARGET2 is the new European Real Time Gross Settlement (RTGS) system which went live on 19 November 2007.
The European Commission estimates that electronic invoicing has the potential to save businesses approximately EUR 64.5 billion per year in Europe alone.
Moving to a multi-zonal messaging architecture to strengthen the resiliency and data protection in global financial messaging.
TARGET2-Securities (T2S) is a European initiative, coordinated by the European Central Bank (ECB), to establish a single platform for the settlement of securities.
JASDEC is migrating to ISO20022 in 2014 with testing starting in 2013. SWIFT is an official, endorsed network option for JASDEC and is ready for go-live in January 2014, on schedule, and testing starts in July 2013. Are you ready?