Cachematrix, the leading provider of money market fund, bank product trading and sweep technology for banks and financial institutions, announced today that it has successfully become a member of the global Swift network.
Cachematrix has become a member of SWIFT, which is a member-owned cooperative that provides the communications platform, products and services to connect more than 10,000 banking organizations, securities institutions and corporate customers in 212 countries and territories. SWIFT enables its users to exchange automated, standardized financial information securely and reliably, thereby lowering costs, reducing operational risk and eliminating operational inefficiencies.
"Integrating directly with SWIFT further solidifies Cachematrix as a global leader of institutional liquidity solutions for banks and financial institutions. Our bank partners demand a wide variety of integration and settlement solutions depending on their strategic goals and technological needs. Rather than just supporting certain trading and settlement methods, like omnibus versus fully disclosed models, Cachematrix has always felt it is critical to offer a variety of solutions to cater to the market demand," said Cachematrix CIO, Matt Crooks.
Crooks continued, "As system integration experts, integrating directly with the SWIFT network was a logical next step towards strengthening our global presence. Our product solutions can now be customized to completely automate and streamline the trading processes wherever SWIFT is applicable."
Cachematrix can now offer banks a choice. Banks can either utilize Cachematrix's new SWIFT architecture, or, if they prefer, can leverage their own existing internal SWIFT infrastructure.