New Testing and Solution Success with SWIFT
Xcitek has successfully completed testing of ISO messages submitted by its XSP software to SWIFT’s Corporate Actions Test and Certification Proof of Concept (POC) programme. Xcitek is committed to delivering full market practice compliance with the event interpretation grid (EIG) guidelines published by the Securities Market Practice Group (SMPG) to ensure all XSP clients can achieve high levels of straight-through processing (STP). Decillion Solutions Australia and Cuscal have also jointly announced the successful implementation of a new SWIFT RTGS payments system. The system, developed by Decillion using Microsoft BizTalk 2004 Server and the Microsoft BizTalk Accelerator for SWIFT 2.1, has been in live operation since early November. It enables Cuscal’s clients to create and manage SWIFT RTGS payments via a highly secure Internet based portal. With annual transaction volumes in excess of AU$13bn the system is critical to the Cuscal’s service offering.