SWIFT Plans New Central Bank Digital Currency Platform for Cross-Border Transfers LeapRate

March 27, 2024 BY Elizabeth Anderson

SWIFT Plans New Central Bank Digital Currency Platform for Cross-Border Transfers

This solution, known as the connector, reportedly enables the seamless incorporation of the use of CBDCs into business practices. Thirty-eight institutions participated in the experiment, including central commercial banks and markets. These included global leaders such as Deutsche Bank, Société Générale, ANZ and Citibank. The outcomes showed the innovation simplifies and expedites trade flows, promotes…

December 27, 2023 BY Sam Boughedda

StoneX to Adopt Swift Payment Pre-validation Service

Cross-border payments have notoriously been plagued by complexities, including regulatory hurdles, bank downtime, and rising competition. In addition, inaccurate beneficiary details alone account for nearly a third of failed cross-border transactions, incurring significant costs and delays, according to the financial services company. Recognising the challenges, Swift said it has introduced its Payment Pre-validation service, which…

March 03, 2022 BY Steffy Bogdanova

EU bans seven Russian banks from SWIFT

The removal of these Russian banks from SWIFT was seen as drastic and unlikely a week ago, in the beginning of the invasion. It is one of the most powerful tools Western countries have to make Russia change course. Russia's largest lender Sberbank and Gazprombank were not included as they are the main channels for…

August 03, 2021 BY Alan Sayer

SWIFT hires tech industry veteran Cheri McGuire as its new CTO

As well as taking on the new role as SWIFT CTO, McGuire will also continue to hold posts with other institutions. These are mainly linked to the realm of cybersecurity. She comes with a high level of prestige as her previous role was as the Group Chief Information Security Officer at Standard Chartered Bank. Perhaps…

June 18, 2018 BY Valentina Kirilova

Eddie Astanin re-elected to SWIFT Board of Directors

Eddie Astanin, Chairman of the Executive Board of National Settlement Depository (NSD), Russia’s central securities depository, has been re-elected to the Board of Directors of SWIFT, the global system of interbank transfers. Mr. Astanin has held this post since 2015, when Russia’s representative joined the Board of Directors of SWIFT for the first time. The…

Volante Technologies Inc. expands executives team

January 17, 2018 BY Valentina Kirilova

Abu Dhabi Securities Exchange signs Memorandum to support adoption of DLT

Abu Dhabi Securities Exchange (ADX), the region's financial market, announced that it has signed a Memorandum of Understanding (MoU) with the Society for Worldwide Interbank Financial Telecommunication (SWIFT) and seven leading global Central Securities Depository (CSD) companies to collaborate on Distributed Ledger Technology (DLT) implementation in post trade operations, as well as capital market transactions.…

ATFX teams up with major payment providers for LATAM and the Middle East

August 15, 2017 BY Valentina Kirilova

SWIFT to facilitate instant payments in the U.S.

SWIFT just announced that it will provide U.S. institutions with a gateway to The Clearing House’s real-time payments (RTP) platform. As instant payments become more ubiquitous in the U.S., SWIFT will provide an interface to manage the requirements of sending and receiving domestic instant payment transactions on behalf of customers. The Clearing House (TCH) is…

November 08, 2016 BY admin

CLS upgrades members to new market infrastructure interface

CLS Group (CLS), a leading provider of risk mitigation and operational services for the global Forex market, today announced the completion of its project to upgrade its settlement members to a new member gateway and market infrastructure (MI) channel. CLS worked with each of its settlement members, as well as SWIFT, to build and integrate…

September 21, 2016 BY LeapRate Staff

Moscow Exchange's NSD becomes first SWIFT Service Bureau to secure Premier Status in Eastern Europe

SWIFT has assigned the Premier certification status to the Service Bureau of National Settlement Depository (NSD), Russia’s central securities depository. NSD’s Service Bureau has become the first bureau to receive this status in Eastern Europe. Compliance with Premier status requirements lets NSD guarantee its clients the maximum level of safety and reliability when using NSD…

September 13, 2016 BY Valentina Kirilova

Clearstream announces August report, prepares for its migration in February 2017

Clearstream has just announced its August report. The highlights last month are: - Successful TARGET2-Securities wave three migration - Clearstream prepares for its migration in February 2017 After the successful third migration wave, TARGET2 Securities (T2S) is now gaining momentum, and Europe is one step closer to a harmonised settlement. With its own migration drawing…

Tag: SWIFT