Syntegra has announced that its Internet Protocol (IP) network service SettleNet has won accreditation from UK securities depository Crest to carry ISO 15022 messages.
Systems integrator Syntegra says SettleNet's 140 plus users will now be able to deploy ISO 15022 messaging for UK settlement activities, reducing risk and operational costs and increasing automation.
Crest is currently offering its proprietary Dex messaging format alongside ISO 15022 messaging, with a view to ultimately replacing it.
Neil Morris, SettleNet general manager at Syntegra, comments: "By making this investment to provide our customers with the option of using ISO 15022 messages, we are reinforcing our commitment to the market."
Syntegra says it is currently in discussions with a number of clients about deploying ISO 15022 messages over SettleNet.