Financial Tradeware, provider of Portfolio and Fund Management Straight Through Processing (STP) solutions for investment managers, fund managers and hedge funds, today announced MFEX of Stockholm signed as a new member of the Financial Tradeware Member Administered Closed User Group (MA-CUG) providing secure access to SWIFTNet.
As a participant of the Financial Tradeware MA-CUG enables MFEX and its clients to exchange multiple standardised financial messages (e.g. FIN, FIX, and XML) with their financial counterparties via the SWIFTNet secure IP network. With the SWIFTNet infrastructure and its complementary messaging services, FileAct, InterAct, Browse and FIN, MFEX is able to use a single, secure communications channel to send and receive messages – automatically or manually – to and from the MA-CUG Service Administrator who has direct access to their various correspondents using the SWIFTNet network.
Oliver Lagerstrm, Chief Operating Officer, MFEX comments: “Using our state-of-the-art technology to secure online execution and settlement of funds for our clients, we can now extend the STP model through the Financial Tradeware MA-CUG which allows us to communicate across the SWIFT IP network with our counterparties”.
Alberto Fontana, Managing Director, Financial Tradeware adds: “MFEX and Financial Tradeware have similar philosophies for servicing clients. We aim to provide efficient, effective systems that enable our clients to go about their business with speed and accuracy. We want our clients to be beneficiaries of a totally reliable, secure IT and messaging infrastructure. The Financial Tradeware MA-CUG provides a cost effective solution for MFEX which allows them in turn, to offer an affordable, first class service to their clients”.