19 March 2018

Canadian Depository for Securities joins the SwiftNet distribution network

10 October 2006  |  1931 views  |  0 Source: Canadian Depository for Securities

The Canadian Depository for Securities Ltd. (CDS) announced today that it has joined the SWIFTNet Data Distribution solution enabling securities market data providers, market infrastructures and financial institutions to send and receive specific types of financial information necessary for transaction processing.

CDS's participation in the SWIFT service supports a strategic enhancement to its Entitlements Messaging service, allowing CDS to distribute entitlements information via SWIFT.

"Entitlements Messaging was launched in 2004 and gives subscribers up-to-date complete entitlement (including corporate action) information, relating to CDS-eligible securities, in field-based form, compliant with the International Organization for Standardization (ISO) 15022 message standard," said Mark Weseluck, executive director, Customer Service and Product Development, CDS.

"SWIFTNet Data Distribution provides a combination of ISO 15022 securities messaging standards and SWIFT connectivity," says James P. Donovan, Head of Securities Industry Division and Member of the Executive Committee, SWIFT. "Connecting to the CDS Entitlements Messaging service via SWIFTNet Data Distribution provides our clients with standardization which facilitates automation, translating into lower processing costs, with fewer errors. This is a significant benefit for all participants in the corporate actions life cycle."

In additional to the use of SWIFT for entitlements information, CDS will introduce an international message hub (IMHub) on November 27, 2006 utilizing SWIFT.

"The IMHub fully supports straight-through processing (STP) and will facilitate the implementation of new links with other international depositories. We plan to expand our international relationships with the introduction of this new service," said Weseluck.

The IMHub will change the way in which CDS participants interact with CDS's international partners, which currently include: JASDEC, Euroclear France and Skandinaviska Enskilda Banken AB (SEB). The International Delivery option (available through CDS systems) will enable CDS participants to initiate, approve and monitor their international deliveries with these organizations.

Comments: (0)

Comment on this story (membership required)

Related company news


Related blogs

Create a blog about this story (membership required)
Visit www.facebook.com/business/visit www.ebaday.comVisit http://info.nice.com

Top topics

Most viewed Most shared
Can banks be a threat to Big Tech?Can banks be a threat to Big Tech?
8245 views comments | 24 tweets | 36 linkedin
Indian fintech sector needs regulatory support to flourishIndian fintech sector needs regulatory sup...
8133 views comments | 9 tweets | 8 linkedin
BIS warns central banks on digital currency issuanceBIS warns central banks on digital currenc...
7030 views comments | 18 tweets | 17 linkedin
Barclays propels Coinbase into Faster PaymentsBarclays propels Coinbase into Faster Paym...
6969 views comments | 15 tweets | 28 linkedin

Featured job

Competitive base + commission + benefits
UK or Germany

Find your next job