SWIFT user category simplification

Live in September 2009

At the June 2008 General Meeting SWIFT shareholders unanimously approved the simplification of SWIFT user categories. The actual implementation of the changes required some preparatory work and validation by the National Member Groups.  This was completed successfully last May and the SWIFT Board of Directors agreed to implement the SWIFT User Categories Simplification on
5 September 2009 (BIC Directory update cycle),

The current SWIFT user categories will be replaced by three groups:
  Users Usage rights
1

Group 1 Supervised Financial Institutions (SUPE)

This group includes shareholder (Members), Sub-members, and users eligible for shareholding (non-shareholding members)

Full Usage
can send/receive all messages and files to/from all SWIFT Users

2

Group 2
Non-Supervised entities active in the financial industry (NOSU)

Broad Usage
can send/receive all messages, except 'payment / value transfer' messages and files to/from other SWIFT Users within
Group 2

3

Group 3
Closed User Groups and corporates

  • Corporates
  • Participants in MA-CUGs
  • Payments System Participants
  • Securities Market Data Providers
  • Securities System Participants
  • Financial Market Regulators
  • Treasury Counterparties

Remains unchanged

Each SWIFT user that is either a Supervised Financial Institution or a Non-Supervised Entity active in the financial industry will receive a confirmation of its user category applicable as of 5 September 2009. For SWIFT users that are registered as a corporate, or as a participant within a closed user group, no changes will apply to their user categories.

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