Mutual Funds Exchange to Connect to SWIFT via Financial Tradeware

Mutual Funds Exchange (MFEX) of Stockholm has signed as a new member of Financial Tradeware’s member-administered closed user group (MA-CUG) providing secure access to SWIFTNet. As a participant of the Financial Tradeware MA-CUG, MFEX and its clients are able to exchange multiple standardised financial messages (e.g. FIN, FIX, and XML) with their financial counterparties via the SWIFTNet secure IP network. With the SWIFTNet infrastructure and its complementary messaging services, FileAct, InterAct, Browse and FIN, MFEX is able to use a single, secure communications channel to send and receive messages – automatically or manually – to and from the MA-CUG service administrator who has direct access to their various correspondents using the SWIFTNet network. Oliver Lagerström, chief operating officer at MFEX, said: “Using our technology to secure online execution and settlement of funds for our clients, we can now extend the STP model through the Financial Tradeware MA-CUG which allows us to communicate across the SWIFT IP network with our counterparties.”

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