SWIFT To Pilot Test Bilateral FX Netting System Adjunct To Accord To Go Live By September?
TECHNOLOGY
The Society for Worldwide Interbank Financial Telecommunications (SWIFT) will begin a month of pilot testing in August of its "advisory" bilateral forex netting system that will operate as part of its seven-month-old Accord confirmation matching system. Accord, which runs on the SWIFT network, currently has 88 bank and brokerage customers. Four of them will be testing the netting service, which will go live in September if all goes well, according to SWIFT spokesman Richard Metcalfe, who
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