SWIFT for Asset Managers
Increasingly, asset managers worldwide are discovering the advantages to – if not the need for – using SWIFT for funds transfer. That’s because the electronic instructions provided by the SWIFT network have become a worldwide industry standard.
Benefits to the SWIFT protocol
- Preparation of instructions is quick and accurate, and is incorporated into a straight through processing environment.
- Controls are established with full audit trails generated.
- Data files are retained through archiving. No need to retain large quantities of paper files.
- A need for a complete data file that is retained through archiving. You can consolidate and archive individual payment and security instructions. This allows for on-the-fly investigations. Reconstructing the full history of a transaction takes a considerable length of time when the information is not consolidated and in various forms.
- Advisory status messages facilitate timely corrections of unmatched instructions.
- Written instructions and faxes can be easily delayed, miss-directed, or lost and you have no means of knowing if the instruction has been received.
- SWIFT will accommodate all multifaceted corporate actions that consist of multiple stages involving combinations of events. These include but are not limited to rights issues, benefits such as dividends, coupon payments, bonus issues, splits, bond final redemption, and takeovers.
If you are an asset manager who is evaluating the benefits of using SWIFT, contact our team for a free personal consultation today – either via this form or by calling one of our offices listed at the bottom of the page.
We can help you understand your options and what configurations may suit your firm’s situation best.
The information in this section is intended to be a description of the StoneX Technology Services LLC’s SWIFT suite of services and shall not be deemed to be an offer for the sale or purchase of any product transaction or advice. It is provided on an ‘as-is’ basis and no warranty, whether express or implied, is given as to its completeness or accuracy.
StoneX Technology Services LLC, registered in Delaware, United States of America under registration number 5994114. StoneX Technology Services LLC is part of the StoneX group and wholly owned subsidiaries of StoneX Group Inc.
StoneX Group Inc. is a public company, registered in the United States of America and regulated by the Securities Exchange Commission. It is listed on the NASDAQ stock exchange (ticker symbol "SNEX").
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