SWIFT today announced that it will partner with ISDA to create a SWIFT Closed User Group and offer FpML messaging services before the end of 2006.
This agreement marks an advance in SWIFT’s Alternative Investments/Derivatives solution, it says, and increases the potential to aid clients in confronting automation challenges in the OTC derivative post-trade area.
The partnership between ISDA and SWIFT is an expansion on their joint relationship concerning interoperability and the convergence of standards.
Both institutions participate in the ISO 20022 Registration Management Group.