Marketplace Technologies becomes Service Bureau of SWIFT in India

Friday 10 November 2017 | 12:25 CET | News
SWIFT India has announced that Marketplace Technologies, a subsidiary of the Bombay Stock Exchange (BSE) will act as its Service Bureau for securities markets in India providing a standardized infrastructure to all market participants. The partnership with Marketplace is expected to provide access to asset management companies, broker dealers to connect to SWIFT India network, which is expected to help securities participants to automate and standardise their communication including areas but not limited to investment account management, fixed income trade settlement and trade reporting, investment funds subscription and redemption. 

Supporting asset management companies (AMC) with their investment cash management activities will be the first flows to go live in November and will be accessible to other securities participants, such as insurance companies, broker dealers, depositories and custodians.

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