SWIFT moves forward with securities alliances

An agreement with the Tokyo Stock Exchange promises standardization and consolidation of trading infrastructure.

Messaging network SWIFT has signed a memorandum of understanding with the Tokyo Stock Exchange TSE to explore using standard ISO15022 messages for corporate action distribution. The deal was signed last week during a visit to the region by Francis Remacle, a member of SWIFT's executive committee in charge of securities. The agreement is likely to culminate in the TSE joining SWIFT by the end of the year.

If broad adoption can be achieved, all market participants...

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