Vendors
日本語
search
  2. //
  3. Reports & insights
  4. //
  5. SWIFT: A Race to New Markets

SWIFT: A Race to New Markets

Create a vendor selection project
Click to express your interest in this report
Indication of coverage against your requirements
A subscription is required to activate this feature. Contact us for more info.
Celent have reviewed this profile and believe it to be accurate.
We are waiting for the vendor to publish their solution profile. Contact us or request the RFX.
Projects allow you to export Registered Vendor details and survey responses for analysis outside of Marsh CND. Please refer to the Marsh CND User Guide for detailed instructions.
Download Registered Vendor Survey responses as PDF
Contact vendor directly with specific questions (ie. pricing, capacity, etc)
30 January 2002

Abstract

Boston, MA, USA January 30, 2002

The Society for Worldwide Financial Telecommunication (SWIFT) has been a major force in the global banking industry since the 1970s. The organization is now leveraging that reputation to expand into other areas of financial services.

In a new report entitled , Celent Communications looks closely at the development of the SWIFT organization and its future plans. SWIFT was founded in 1973 and, upon its launch in 1977, quickly became a major part of the worldwide banking system. This system connects approximately 7,200 institutions in 192 countries, supporting over 240 message standards for payments, securities, treasury, derivatives and other trade services. It is estimated that the average daily value of payments messages on the SWIFT network exceeds US$5 trillion.

SWIFTNet holds a great deal of promise, and is the future direction of the SWIFT organization, according to Fritz McCormick, author of the report. He adds, Celent believes that SWIFT, leveraging its massive reputation in the industry, is not likely to lose volume while migrating to the new network; its users will continue with SWIFTNet. The real question is how the new service will affect SWIFTs attempts to pull in additional securities-based volume.

SWIFTs work in standards is pressing forward at the same time. The organizations integration with the FIX Protocol Limited organization will enable it to greatly spread its influence into the securities markets. Work on the ISO 15022 standard will further this influence by creating a strong front-to-back-office messaging link for firms, helping to make STP a reality.

A Table of Contents is available online.

of Celent Communication's Institutional Securities & Investments and Wholesale Banking research services can download the report electronically by clicking on the icon to the left.

Send mail to info@celent.com with questions or comments about this Web site.

Client Access