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Closed User Group (CUG)

A subset of customers that have been grouped to use certain Swift services and products in a defined context (typically, the participation of customers in a market infrastructure, a Member-Administered Closed User Group, or a solution). Either Swift or a service administrator defines the eligibility criteria and participation in the Closed User Group.

Market Infrastructure Closed User Group (MI-CUG)

A Closed User Group implemented in support of a service managed by a market infrastructure (MI).

Member-Administered Closed User Group (MA-CUG)

Member-Administered Closed User Group. A Swift-operated, member-managed service that uses messaging service. The Member-Administered Closed User Group is designed to enable users that participate in the Closed User Group to exchange Swift messages bilaterally with the service administrator, or with the administrator-related participant.

Related links
Subscribe to MA-CUG service (www.swift.com)
MA-CUG Service Description

Canadian companies remain loyal to the Canadian dollar

News
Swift’s latest RMB Tracker shows that Canadian corporations have been slow to start using RMB for cross-border payments

London ranks first for offshore RMB FX transactions

News
Swift’s latest RMB Tracker shows that more than one-third of offshore RMB FX transactions are conducted with the United Kingdom

A work of friction? Drivers towards seamless securities settlement

News
In the second of three articles, Swift’s Head of Securities Strategy, Vikesh Patel, considers the building momentum for shorter settlement cycles and frictionless post-trade processes – and what this means for the current market structure.

Swift innovates to remove friction in corporate actions

News
We’re collaborating with seven securities players – including American Century Investments, Citi, Vanguard and Northern Trust – to drive efficiencies in communicating significant corporate events. The project will trial an ambitious solution powered by Symbiont’s enterprise blockchain platform.

More than 100 countries are now using the RMB for payments with China and Hong Kong

News
Swift’s latest RMB Tracker shows that 57 countries have crossed the 10% RMB threshold

Euro surpasses RMB in traditional trade finance

News
Swift RMB Tracker shows the euro is now the second-most-active currency for trade finance, whilst the RMB slips to position number three

Swift launches new cloud-based solution to enhance correspondent banking activities

News
Correspondent Banking Suite combines Swift products and services to make correspondent banking more efficient, secure and cost-effective

Swift enhances connectivity to VPS, the Norwegian Central Securities Depository

News
Swift will reinforce its connectivity to Norway’s central securities depository

Swift to facilitate instant payments in the U.S.

News
U.S. banks will have option to connect to new TCH real-time payments system via Swift gateway

Swift enhances reference data quality for treasurers

News
SwiftRef’s new Customer Data Validation service supports corporate treasury teams with assessing and validating payments reference data
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