Swift moves a step closer to STP
BRUSSELS -- Swift, the industry-owned provider of messaging services and interface software to more than 7,000 financial institutions, has teamed with Financial Fusion and Global Crossing to provide a financial information exchange (FIX) hub messaging application to the securities industry. FIX is a messaging standard developed for real-time electronic exchange of securities transactions.
The move should help securities firms in their effort to achieve true straight-through processing (STP) for
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