HSBC Adopts ISO20022 in Japan

HSBC has added ISO 20022 messaging through SWIFT's network in Japan, which HSBC will use for end-to-end settlement with the Japan Securities Depository Center (JASDEC).
By Jake Safane(2147484770)
HSBC has added ISO 20022 messaging through SWIFT’s network in Japan, which HSBC will use for end-to-end settlement with the Japan Securities Depository Center (JASDEC).

HSBC went live with the messaging standard in January this year, and the bank says that clients have experienced quicker message transmission and a 50% efficiency gain during peak hours.

“We are delighted to be an early adopter of this new market linkage service. Our commitment to implementing advanced technology and leading industry standards demonstrate our position as a key player in the sub-custody business. We are seeing more market infrastructures in Asia and other regions adopting or considering the adoption of ISO 20022 and the experience we have gained from our interaction with JASDEC will help us assist other institutions in evaluating and working out new adoption projects,” says Colin Brooks, global head of sub-custody and clearing, HSBC Securities Services.

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