The Society for Worldwide Interbank Financial Telecommunication (Swift) is to take its annual interbank operations seminar (Sibos) back to Singapore in 2003, following the last-minute decision to cancel this year's event on the island.
Swift claims the move "is a direct result of the overwhelming support and commitment that we have experienced from the government of Singapore, its financial community, conference centre and hotels".
Sibos 2003 was originally scheduled to take place in Stockholm. Swift says the Scandinavian user community supports the decision.
The new Sibos dates are:
30 September – 4 October, 2002
20 October – 24 October, 2003
11 October – 15 October, 2004.
Swift says it will also publish a "Sibos Highlights pack", featuring interviews with Sibos keynote speakers, panel session speakers and industry authorities.
Swift's sudden decision to pull out of this year's event has left many exhibitors out of pocket, and angry at the eleventh-hour timing of the cancellation. The Society is promising only to refund charges for exhibition stand space - a small portion of the overall vendor spend on stand design and construction, plus marketing collateral and travel and expenses costs.
The rejigging of the Sibos schedules may appease the Singaporean authorities, but vendors point out that the costs and logistics of supporting the show in the Far East are often not met by a strong delegate turn-out in the exhibition hall.