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 will be brought into line with foreign custody and sub-custody banks which already use SWIFT messages to handle settlement and transmit data on corporate actions. The idea, says Remacle, should appeal to TSE members because...

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222