Iberclear moves to SwiftNet

Iberclear moves to SwiftNet

Spanish central securities depository Iberclear has signed an agreement to provide single-window access to domestic settlement platforms Cade and SCLV through SwiftNet, the interbank messaging body's next-generation IP-based network.

The agreement is part of a larger Iberclear project called Ventana Unificada de Comunicaciones (VUC), entailing the convergence of processes around the new ISO 15022 messaging standard.

"The convergence of Iberclear and its systems to standards and procedures similar to those used by other CSDs, is a strategic decision for us," says José Ma Narvaez, chief executive officer of Iberclear. "It is clear that SwiftNet and the ISO 15022 messaging standard are largely the communication means and standards already accepted and used by our European peers."

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