SWIFT experienced strong growth in all major markets in 2006. A traffic increase of 13.7% and sustained financial performance have given SWIFT a total return of €65m. Messaging traffic increased by 13.7% compared to 2005, to a total of 2.86 billion messages and remains SWIFT’s largest source of revenue. Securities messages remain the major growth driver, with a 22.1% year-on-year volume increase. Payments messages were up 9.3% compared to last year. Traffic in the treasury market was driven by volatility in the foreign exchange markets and increased 12.8%. A new peak day of 13.6 million messages was reached on 20 December. The savings for the community constituted €23m in free hardware security modules, an 8% mid-year price reduction of €16m, and a rebate for the fifth consecutive year worth €26m. For the first time, the 7% rebate was applicable to all messaging services, not only FIN. Before rebate, revenue amounted to €588m, a 5.2% increase due mainly to revenue from interface sales and strong messaging traffic. The March 2006 Board approved the ongoing SWIFT2010 strategy, which incorporates four strategic growth thrusts: Extending client reach into corporates and trade services; European harmonisation by supporting SEPA, TARGET2, Giovannini and MiFID in payments and securities; expansion in emerging markets; and establishing a presence in the pre-settlement space of securities and derivatives. The strategy has been positively received by the community and progress to date is on target.
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more