Swift Sets Up Contingency Group For Users Who Miss 15022 Deadline
OPERATIONS AND STP
LA HULPE, Belgium--As expected, Swift, the industry-owned financial messaging provider, last week confirmed it will set up a contingency plan consisting of a users group that will provide continued support for the soon-to-be replaced ISO 7775 standard for banks and buy-side firms not yet ready to make the changeover to the new ISO 15022 messaging formats.
Swift has also released details of the fees it will charge firms to use the six-month back-up plan while they change from the old standard to
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