Under the agreement, Euronext will leverage SWIFT's FIN and SWIFTNet messaging platforms, which connect a community of over 7,000 financial institutions globally, to expand its international client base and accelerate its time to market for new service offerings. The exchange will actively support initiatives enabling access to its core information systems NSC and Clearing 21® using the ISO 15022 message standard, simplifying the access model for its clients and enabling them to maximise their investment in the industry standard.
In parallel, Euronext and Clearnet will contribute to SWIFT's efforts to define message standards for exchange flows.
"Euronext is committed to providing its customers the highest quality access solutions to its central trading and clearing services," said Olivier Lefebvre, Member of the Managing Board, Euronext N.V. "Our co-operation with SWIFT is a significant step forward on this path and we expect to benefit from it as early as 2002."
"SWIFT's strategy stems from extending connectivity and standards across the securities lifecycle," said Francis Remacle, Head of the Securities Industry Division, SWIFT. "Working closely with Euronext is another step towards achieving interoperability and convergence of standards from the front to back office."
Securities firms will be able to access Euronext services via SWIFT in 3Q02.
