The Hong Kong Monetary Authority (HKMA) has moved to the SwiftNet system as Hong Kong's financial messaging platform for automated transfer payments. Previously the HKMA had used a proprietary network.
The HKMA and Hong Kong Interbank Clearing decided in 2006 they would implement the new open platform and replace their proprietary platform.
"This is a classic example of why a market infrastructure moves from a proprietary platform to Swift," says Esmond Lee, executive director of the HKMA's fina
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