 |
The Society for Worldwide Interbank Financial Telecommunication ("SWIFT") operates a worldwide financial messaging network. On this network messages are guaranteed by SWIFT to be securely and reliably exchanged between banks and other financial institutions. SWIFT also markets software and services to financial institutions, much of it for use on the SWIFTNet Network.
The majority of international interbank messages use the SWIFT network. As of April 2006 SWIFT linked almost 8,000 financial institutions in 205 countries. SWIFT does not facilitate funds transfer - financial institutions need a corresponding banking relationship for financial transactions.
SWIFT is a cooperative society under Belgian law and it is owned by its member financial institutions. SWIFT headquarters are located in La Hulpe, Belgium.
SWIFT was founded in Brussels in 1973, supported by 239 banks in 15 countries. It started to establish common standards for financial transactions and a shared data processing system and worldwide communications network. Fundamental operating procedures, rules for liability etc., were established in 1975 and the first message was sent in 1977.
Through its UK subsidiary, Simplex Consulting, CMT is both a SWIFT Service Partner (for the servicing of SWIFT's own product set installed at end user organisations) and an accredited Service Bureau provider, meaning that it can host the SWIFT gateway for its customers, instead of their needing to run their own gateway in-house. This then enables CMT to offer a range of value-added applications which utilise SWIFTNet as their connectivity to the customer's own trading partners.
|
 |
The Intel Corporation is the world's largest semiconductor company and the world leader in silicon innovation, focusing on developing technologies, products and initiatives to continually advance how people work and live. Intel multi-core processors are delivering remarkable improvements in performance and scalability - revolutionizing the way applications are built and leading to a demand for new skill-sets in the software developer and architect communities. Leading financial applications, particularly in the demanding high-performance areas of trading and risk are driving this demand in the financial services industry.
Intel is a key hardware partner for CMT.
|
 |
Morse is an international consulting company offering its clients specialist business and IT advice and helping them execute for maximum benefit. Morse is a delivery oriented company with focused industry expertise, combining a powerful blend of management, application and infrastructure consulting skills.
Morse provides CMT with secure managed data centres in which to house its bureau infrastructure.
|
 |
Sterci partners with financial institutions to improve business processes and to reduce overall risk by providing STP solutions for financial messaging, application integration, reconciliation, and data management. Sterci is dedicated to STP software development, building on a foundation of 25 years experience in financial messaging. Sterci is an official SWIFT partner with full accreditation for its STP products. Sterci is ISO 9001-2000 certified by the Swiss Association for Quality and Management System (SQS). Sterci delivers innovative solutions that enable its customers to comply with new regulations and new standards. Sterci solutions can easily interoperate in a Service Oriented Architecture SOA with legacy applications providing operational efficiency.
Sterci provides three of the key applications running in the Simplex bureau.
|
 |
Dovetail Systems Inc is a US-based provider of payment processing systems for banks. Dovetail first deployed its underlying platform into a major bank in 2002. It has been continually enhanced and is now the core of a truly universal payments platform.
The system has now been implemented globally at the heart of some of the world's largest financial institutions. The Dovetail solution and implementation approach is proven, comprehensive, powerful, scalable - and unique.
Simplex is working with Dovetail to package the Dovetail software to run as an ASP solution in the Simplex bureau, to enable the Tier 2 banking market to be addressed. This extends the Pays offering to encompass what is needed for a SEPA payments engine, and for UK Faster Payments.
|
 |
The Transaction Workflow Innovation Standards Team (TWIST) is a not-for-profit industry group with representatives of the following key constituencies:
- Corporates
- Public Administrations
- Financial Services Providers (i.e., banks and non-bank financial institutions)
- Solutions Providers (e.g., software vendors and consultancies)
The primary aim of the TWIST organisation is to close the gaps in the physical and financial supply chain to release the enormous value locked up in disjointed paper-based processes.
To achieve this, TWIST rationalises financial industry standards by creating user-driven, non-proprietary and internally consistent XML-based standards for the financial supply chain.
TWIST covers wholesale financial market transaction processing, order management, e-invoicing and payment processing, bank account opening and closing, billing of bank services, credit management, supply chain financing plus identity management and security.
TWIST also participates in the management of the ISO 20022 standards for financial markets aiming to make this the umbrella for its comprehensive suite of standards.
CMT is closely aligned with TWIST. This enables CMT to gain insight into the latest requirements and relevant industry initiatives in the bank to corporate and corporate to corporate financial supply chain, as well as an excellent network of contacts at senior levels within a wide range of organisations.
|
 |
The International Securities Association for Institutional Trade Communication, ISITC is an organization that develops invaluable recommendations for straight-through processing and other electronic trade and communications procedures — recommendations that are repeatedly adopted by the industry and become standards that have transformed trading processes.
The association is unique in that it is not only for the industry, but by the industry. Over 1,500 individuals from 350 member organizations work together to generate the proposals that refine these processes market-wide.
The result is that those in the securities business are revolutionizing trading operations, benefiting themselves and the industry as a whole.
ISITC is sponsoring the interest rates claims initiative, for which iBase will provide a solution 'out of the box'. Two early adopter customers, HSBC and State Street Banks are active participants in the ISITC forum.
|
 |
JWG-IT is an independent think-tank which helps financial institutions define workable solutions to the challenges posed by EU regulatory change.
Founded in January 2006, JWG-IT was setup in the belief that MiFID, like most EU regulation, could be implemented quicker, cheaper and better through collaboration across the technology value chain. It works with trusted technical experts from its membership to identify practical options which facilitate the adoption of appropriate, affordable and advanced IT solutions to changes driven by regulation in Financial Services. For more detail on the EU regulatory agenda, the challenges of implementation and publicly available resources for implementers.
JWG-IT provides a forum where CMT staff can network with senior industry professionals who are actively involved with MiFID compliance projects.
|
|
|
|
|