Financial Tradeware, provider of portfolio and fund management straight-through processing (STP) solutions, has launched a new service based on a member administered closed user group (MA-CUG) concept, providing Swift connectivity for small-to-medium-sized investment management institutions, investment funds, hedge funds and corporates. Using the SwiftNet infrastructure and complementary messaging services, FileAct, InterAct, Browse and FIN, MA-CUG participants will be able to access a single, secure communication channel to send and receive standardised messages (FIN, FIX, XML and others) – automatically or manually – to and from the MA-CUG Service Administrator, who has direct access to their various correspondents through the SwiftNet network of more than 7,500 financial counterparties.
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