CheckFree's financial and compliant solutions business unit has entered a partnership agreement with Syllog to provide asset managers with connectivity to the Swift messaging network.
Under the agreement, the two companies will create an interface from CheckFree's Recon Securities system to Syllog's Swift Service Bureau (SSB) solution.
Through the new interface, CheckFree's buy-side institution clients that require access to receive trade summary and statement data from their custodians can use the Swift network through Syllog SSB. The service bureau allows firms of all types to send and receive messages on the Swift network using protocols and software that they already have in-house.
"When using Syllog, our customers who might not have a Swift connection can seamlessly collect all of their custodian's data from one source, rather than from separate sources for each custodian," says Stephen Engdahl, director of product management, CheckFree financial and compliance solutions business unit.