C24 Technologies, a leader in financial services messaging and integration solutions, today announced the latest release of C24 Integration Objects, a development tool for building financial messaging data services.
With this new version, C24 provides complete support for SWIFT Standards Release 2012 (SR2012), including all SWIFT messages and validation rules. The financial services developer community can immediately download the product and fast-start reference implementations at www.c24.biz/downloads to jumpstart their SWIFT 2012 projects.
C24 Integration Objects is a data modeling, meta-data management, transformation and messaging integration toolkit based on Java data binding technology with in-depth support for over 40 industry standards including SWIFT, ISO 20022, SEPA, FpML, and FIX. The product fully integrates with Spring, ESB, grid, caching and cloud technologies.
The C24 SWIFT Services solution enables firms to jumpstart their SWIFT 2012 upgrade or new SWIFT project. The solution consists of C24 Integration Objects, prebuilt SWIFT MT and MX standards libraries, SWIFT MT-MX translations, test cases, and consulting services tailored to the user's specific needs.
"Our in-depth support for SWIFT messages and long standing relationship as a SWIFT partner enables SWIFT users to deploy their messaging data services projects with confidence" said Wayne Meikle, commercial director, C24 Technologies. "C24 has been a provider of SWIFT Standards Releases since 2002, worked with SWIFT to create the SWIFT messaging library accreditation in 2006 and we are excited to announce SWIFT 2012 support to our customers well ahead of the November 17, 2012 compliance date."
There were over 400 changes for SWIFT MTs that need to be implemented by November 17, 2012, and on average it can take six months per application to update if "hand-coding" message syntax and semantics. Customers have reported lowering their standards development costs by 50%, and delivering projects to market twice as fast using C24 Integration Objects.
In 2012, financial firms are facing new regulations and B2B requirements for corporate actions, payments, investment funds, post-trade matching, OTC derivatives, reporting, and clearing and settlement. These business processes require the integration of diverse financial standards with internal and external data models. With C24, financial firms vastly improve operational efficiencies and significantly reduce the costs and risks inherent in these software projects.
As a member of the International Securities Association for Institutional Trade Communication (ISITC) helping to define and support evolving data interoperability requirements, C24 Technologies will be exhibiting at the ISITC 18th Annual Industry Forum & Vendor Show in Boston from March 25 -28, 2012.