Interbank messaging network Swift has announced the live availability of its accredited ISO-compatible Crest messaging solution.
The new service, driven by the adoption of the ISO 15022 standards by the UK depository, will run in parallel with the Crest proprietary DEX solution that has been available to market participants via Swift since 1996. Users will have the option of remaining with the proprietary DEX formats or moving towards full ISO compatibility for settlement messaging.