SWIFT, the financial messaging provider for more than 10,000 banking organisations, securities institutions and corporate customers in 212 countries and territories, today announced that KGI Securities Co. Ltd. has become the first Taiwan-based securities firm to go live on the SWIFT network.
KGI Securities is the second largest securities firm in Taiwan with a wide range of businesses covering brokerage, wealth management, proprietary trading, underwriting, fixed income and derivatives. By joining SWIFT, KGI Securities can take advantage of its standardised platform as a secure and reliable way to communicate with all counterparties via one connection globally, and automate securities and payment transactions using widely adopted ISO standards. By relieving operational burden, SWIFT enables KGI Securities to focus on its core securities business, while effectively managing risk.
Alain Raes, Chief Executive, Asia Pacific and EMEA, SWIFT, said: "Taiwan's securities industry is growing rapidly and we are delighted to support KGI Securities to capitalise on these opportunities and meet the next phase of challenges. For SWIFT, this is an important reflection of our continued efforts to help the securities industry improve process automation, lower cost, reduce operational risk, and meet regulatory compliance. We look forward to welcoming more securities firms to join the global SWIFT community."
SWIFT has been in Asia Pacific for over 30 years, starting in Hong Kong and Singapore. Three regional offices have been opened in Asia since 2005, bringing the total to eight commercial and support offices, as well as an Operational Central Control Centre and a new corporate services hub that opened in Kuala Lumpur last year.