SWIFT is to introduce Watch for Securities, a business intelligence (BI) solution to help securities market participants to monitor and gain business insights from their network traffic.
Announcing the launch on the first day of the Sibos conference in Boston, the financial messaging services provider said that the Watch for Securities offering is expected to go live in Q1 of 2015, with an early adopter programme planned for the end of 2014.
SWIFT said that built on a secure and single online platform, Watch for Securities provides consolidated access to monthly aggregated global, regional and country level data for securities messages. It offers highly reliable data that institutions can use to adjust their systems and focus their activities.
The solution can also be used for a number of purposes including benchmarking and analysis of market trends, activity share and operational indicators. Initially, Watch for Securities will cover asset servicing and settlement messages for equities and fixed income markets.
“The securities industry is a fast moving market,” said Fabian Vandenreydt, head of markets management, Innotribe and the SWIFT Institute at SWIFT. “Access to aggregated settlement and asset servicing information can help reduce risk and cost and help identify new opportunities for growth.”
Targeted towards local and global custodians, universal banks and asset managers, Watch for Securities is designed for SWIFT customers operating in domestic and cross border markets.
“Typically these institutions will have a certain view and level of information about their securities traffic and flows, but are not always able to leverage or consolidate meaningful intelligence from the data,” SWIFT noted.
However, a London summit on the industry’s introduction of the technology cautions that testing and acceptance are still at an early stage and firms should proceed with caution.
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