FX Week

TECHNOLOGY

TECHNOLOGY

Swift, the Society for Worldwide Interbank Financial Telecommunications, plans to introduce a new message type in July that will allow investment managers to send details of foreign exchange transactions to their global custodians, according to Peter Guldentops, manager of standards for the Brussels-based bank consortium. The new MT304 message format is expected to be available over the Swift network next year after completing a pilot testing phase. The "third-party confirmation" message wi