SGX selects SWIFT to build future-proof infrastructure
The new SWIFT infrastructure in SGX is live and ready to support ISO 20022 and FIXML messages
Singapore - 10 December 2015 - SWIFT announces today that all existing SGX SWIFT traffic has been moved to a new SGX SWIFT infrastructure. In addition, SGX securities clearing members will be able to conduct their post-trade processing via this new SGX SWIFT infrastructure as they launch their new back-office systems from July 2016 onwards. The infrastructure supports ISO 20022 messages, that have been successfully tested in the context of the new SGX post-trade system, as well as FIXML messages for clearing.
Nico Torchetti, Head of Post-Trade Services at SGX says "We are delighted to be launching the new SGX SWIFT infrastructure as part of our post-trade modernisation programme. The new SGX SWIFT infrastructure features not only the new ISO 20022 standards for settlement messages, but also FIXML messages for clearing. Our international clearing members on SWIFTNet will be able to consolidate and conduct their SGX securities clearing and settlement via this new infrastructure."
Eddie Haddad, Managing Director, Asia Pacific at SWIFT says: "SGX is now equipped with a future proof and resilient infrastructure that can support their ambitions and the modernisation program of their post-trade system. Not only does this new infrastructure support ISO 20022, the latest internationally recognised standard for financial messaging, of which SWIFT is the Registration Authority, it also supports for the first time FIXML messaging for clearing."
SWIFT is a member-owned cooperative that provides the communications platform, products and services to connect more than 10,800 banking organisations, securities institutions and corporate customers in more than 200 countries and territories. SWIFT enables its users to exchange automated, standardised financial information securely and reliably, thereby lowering costs, reducing operational risk and eliminating operational inefficiencies. SWIFT also brings the financial community together to work collaboratively to shape market practice, define standards and debate issues of mutual interest.
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