SWIFT Electronic Trade Confirmation Service Gets First Asian Broker

CLSA has become the first Asian broker to go live on SWIFT’s Global Electronic Trade Confirmation (GETC) service for the automation of allocation and confirmation processes.
SWIFT’s GETC service provides trade confirmation message generation, helping clients to manage and control their post-trade, pre-settlement workflow while preserving their existing investment in straight-through processing.
Tom Garside, CLSA’s head of operations, Asia, said: “Not only does GETC enable CLSA to meet our clients’ needs, it also allows us to implement greater STP whilst driving down our cost base.”
Claus Kwon, head of securities, Asia Pacific, SWIFT, said: “Our GETC initiative is gaining momentum globally as both the buy and sell side look to reduce costs, mitigate risk and meet new regulatory requirements.”