(Editor’s Note: After a quarter century with the SWIFT financial messaging and services cooperative, CEO Lázaro Campos’ first order of business after he leaves will be two months on a beach somewhere on the Spanish coast. Campos is stepping down at the end of this month and will be replaced by Gottfried Leibbrandt, who is… Read More >>
SWIFT Gets a New CEO
SWIFT CEO Lázaro Campos is driving the change at the top of the financial messaging and services cooperative, says SWIFT’s board chairman Yawar Shah. Campos will be stepping down by the end of next month and will be replaced by Gottfried Leibbrandt, who is SWIFT’s Head of Marketing and a key architect for the SWIFT2015… Read More >>
SWIFT Takes Aim at Its Standards
SWIFT is taking aim at its MT/MX/ISO 20022 offerings with a new web-based, collaborative platform, dubbed MyStandards, which is intended to help firms improve the development of their financial messaging infrastructures. Describing the MyStandards initiative as “something close to his heart,” Konstantin (Kosta) Peric, head of innovation for SWIFT, says the MyStandards application was created… Read More >>
LEI at a Crossroads
In an eleventh hour move, a key panel of the Financial Stability Board (FSB) is pushing for the removal of the registration authority from the proposed standard for legal entity identifiers (LEIs). This leaves the SWIFT financial messaging cooperative, a backer of the LEI effort, without a clear role. Undaunted, SWIFT says it’s a strong… Read More >>
The LEI Update
The initiative to uniquely identify financial counterparties according to the proposed Legal Entity Identifier (LEI) standard (ISO 17442) is hitting its stride as many key milestones are looming and as financial services firms refine plans and budgets for the reference data overhaul mandated by regulators. In the US, regulators have compelled the industry to create… Read More >>
SWIFT and ‘Amigos’ to Tackle Buy Side’s Manual Processes
SWIFT is paving the way for a pilot program that would allow small-to-medium sized buy-side firms to automate confirmations and allocations through their sell-side counterparties, confirm officials of the financial messaging services consortium. Speaking at the SWIFT Operations Forum—2012 in New York, Chris Church, chief executive and global head of securities for SWIFT Americas, yesterday… Read More >>
Tech Spotlight: A Computer Language Automates Human Processes
(Editor’s note: FTF News is launching today a new area of coverage as we spotlight each month a key information technology (IT) trend that is proving to be crucial to the successful operation of middle and back office processes. For January, we focus on the eXtensible Business Reporting Language, also known as XBRL.) The open… Read More >>
Good News from the Global LEI Front
Rarely am I enthusiastic about bureaucratic standards-building processes. But a recent task force report gives me hope that international support for a system of legal entity identifiers (LEIs) is real and will help bring to fruition a key reform for over-the-counter (OTC) derivatives. Of course, this isn’t the sexy reform that grabs the headlines, but… Read More >>
Q&A: SWIFT’s Goodenough says the LEI Push Is ‘Like Birthing a Baby’
FTF News recently got a rare chance to sit down with Dennis E. Goodenough III, senior business manager, securities initiatives at the financial messaging services cooperative SWIFT. Goodenough provides insight on SWIFT’s role in the legal entity identifier (LEI) and ISO 20022 standards efforts, and SWIFT’s FX Trade Repository initiative—important industry issues that were detailed… Read More >>
Q&A: SWIFT’s Peric Says ‘Big Pressures’ Spur Radical Innovation
Since 2007, Konstantin (Kosta) Peric, based in Brussels, Belgium, has been leading a team pushing for collaborative innovation, dubbed Innotribe, for many facets of the financial services industry. As head of innovation for the SWIFT cooperative, Peric and Innotribe have helped SWIFT get a seat “at the innovators’ table,” which is a major step forward… Read More >>
