Trace bridges Swift ISO standards

Trace bridges Swift ISO standards

The Trace Group's Datawise division is to roll out a solution to help financial institutions migrate to Swift's ISO 15022 standards, in the first release of a new message processing framework (MPF) software suite.

Trace says MPF has been recommended to Swift for accreditation to the latest SwiftReady Gold 2002 standard. Accreditation is anticipated by Spring 2002.

The technology is based on a platform which includes document object models - the Swift DOM, or S-DOM, is able to decompose a Swift message to its smallest component for fast mapping of the message to other formats or standards, says the company.

The first MPF release, 'Easy ISO 15022' features mappings for conversion of all settlement and reconciliation messages between ISO 7775 and ISO 15022 standards; a Swift ADK interface to Swift Alliance; a MQ Series interface, plus a standard file interface; bespoke mapping tool; and a validation and repair tool.

Joginder Sethi, managing director, says Easy ISO 15022 will be affordably priced at a cost which shadows the Swift message volume bands, starting with a EUR30,000 price tage for band one Swift users.

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