SWIFT Presents ACCORD At SIBOS Its FX Netting, Confirmation System

TECHNOLOGY

The Society for Worldwide Interbank Financial Telecommunication (SWIFT) presented ACCORD, its confirmation and bilateral foreign exchange netting system project, which has recently entered a pilot testing phase, at SIBOS, its annual conference earlier this month.

Although some sources say that ACCORD, the latest foreign exchange netting system to enter the fray, could represent a serious challenge to FXNET, the established London-based bilateral netting system, some are skeptical that the sys