Financial Tradeware plc has launched a new service based on a Member Administered Closed User Group (MA-CUG) concept, providing SWIFT connectivity for small to medium sized Investment Management Institutions, Investment Funds, Hedge Funds and Corporates.
Using the SWIFTNet infrastructure and complementary messaging services, FileAct, InterAct, Browse and FIN, MACUG participants will be able to access a communication channel to send and receive standardized messages (FIN, FIX, XML and others) – automatically or manually – to and from the MA-CUG Service Administrator, who has direct access to their various correspondents through the SWIFTNet network of more than 7500 financial counterparties.