SWIFT has said it experienced strong growth in all major markets in 2006 after releasing its annual report.
A traffic increase of 13.7 percent and sustained financial performance have enabled SWIFT to return a total of EUR 65 million in benefits to customers, it said in a statement.
Messaging traffic increased by 13.7 percent 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 percent year-on-year volume increase.
Payments messages were up 9.3 percent compared to last year. Traffic in the Treasury market was driven by volatility in the foreign exchange markets and increased 12.8 percent. A new peak day of 13.6 million messages was reached on 20 December.
The savings for the community constituted EUR 23 million in free hardware security modules, an 8 percent mid-year price reduction of EUR 16 million, and a rebate for the fifth consecutive year worth EUR 26 million.
For the first time, the 7 percent rebate was applicable to all messaging services, not only FIN. Before rebate, revenue amounted to EUR 588 million, a 5.2 percent 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.
“Solid growth in 2006 enables us to put the additional resources in place to deliver on our 2010 strategy,” says Lzaro Campos, SWIFT’s CEO. “We expect to recruit 400 people worldwide in 2007, half of which will be based at our headquarters in Belgium. With a dedicated and talented global staff and the commitment and strength of our community, we are confident we will continue to increase our share of the cooperative messaging space in an increasingly competitive market.”