Reuters has become the first vendor to be awarded the SWIFTReady Gold Accord Integration for 2007 - the new label for integration with SWIFTNet Accord.
To get it Reuters had to adhere to a stringent set of criteria which support SWIFT messaging, connectivity and functionality. SWIFTNet Accord is a real-time confirmation matching and exception handling application which enables subscribers to reduce operational risk within the trade lifecycle.
Reuters' Kondor back office system implemented a standard interface to SWIFTNet Accord when it was first made available on the SWIFTNet infrastructure - enabling all users to access its central matching system in real time. SWIFTNet Accord covers confirmations across foreign exchange, money markets and OTC derivatives.
The Reuters Kondor interface enables confirmation matching results for various instruments to be fed into back office treasury systems which in turn acts as a trigger for other processes such as release of payments.