More NewsSimCorp Proves Readiness to Process SWIFT ISO 20022 MX Messages

SimCorp Proves Readiness to Process SWIFT ISO 20022 MX Messages

SWIFT and SimCorp have completed a proof of concept (POC), which demonstrates that SimCorp Dimension, SimCorp’s solution for investment management businesses, can accept, process and transmit SWIFT ISO 20022 MX messages. MX messages are increasingly used in the securities industry, with adoption extending beyond Europe to Asia and the US.

MX messages offer more clarity and have wider application than earlier protocols, so their use enables investment managers to improve straight-through processing (STP) rates. Consequently they can drive down costs, reduce operational risk and readily accommodate increased volumes as their businesses grow.

MX messages usage on SWIFT is steadily increasing for mutual and pension funds flows automation, while new MX messages to support corporate actions and securities settlement will go live later this year. The POC involved bringing together SWIFT’s Alliance Integrator, the configurable SWIFT-specific integration platform, and SimCorp Dimension. This combined solution will be complemented in future by one based solely around SimCorp Dimension.

Patrik Neutjens, head of partner management at SWIFT, said: “SimCorp is a longstanding member of SWIFT’s partner programme and geared up to position itself as a front-runner software provider in terms of MX adoption. We value our partnership with this leading-edge investment management software provider and are confident that our partnership will translate into tangible added value for SimCorp users.”

Related Articles

Preparing for GDPR? Here’s four things to consider

More News Preparing for GDPR? Here’s four things to consider

3m Elliott Wiseman
Cash flow in focus for investors

Cash Management Cash flow in focus for investors

4m Conor Deegan
Treasury TV: Karen Pugsley, Domino's Pizza Group

More News Treasury TV: Karen Pugsley, Domino's Pizza Group

4m Victoria Beckett
Treasury TV: Yeng Butler compares US and European MMF reforms

Compliance Treasury TV: Yeng Butler compares US and European MMF reforms

4m Victoria Beckett
Treasury TV: Tim de Knegt, The Port of Rotterdam

10 Minutes With The Treasury Treasury TV: Tim de Knegt, The Port of Rotterdam

4m Victoria Beckett
Banks are selling clients short with short dated cash deposit U-turns

Banking Banks are selling clients short with short dated cash deposit U-turns

4m Victoria Beckett
What does sterling’s Brexit boost mean for UK manufacturers?

More News What does sterling’s Brexit boost mean for UK manufacturers?

5m Tasja Botha
FX for corporates: 5 best practices for treasurers

Economy FX for corporates: 5 best practices for treasurers

5m Mateo Graziosi