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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

Ping An Insurance and Sinochem Finance Company won winning titles in the Tao Zhu Gong Awards 2018

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Ping An Insurance (Group) Company of China Limited and Sinochem Finance Company Limited were successfully awarded the Best Finance Company and the Most Effective use of IT awards respectively at the Tao Zhu Gong Awards 2018.

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On Monday 23 September Sibos is hosting the first ever day dedicated to the foreign exchange (FX) industry. Across six sessions, separated by a keynote speech from the popular and closely followed FX research economist David Bloom of HSBC, panellists will be debating all the forces changing the shape of the FX industry: regulatory pressure, technology, liquidity, data and the renminbi.

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New report from Swift and the Boston Consulting Group goes through the challenges the Indian corporate banking industry is facing

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Last year, we launched a global customer consultation to gather feedback from our community on MyStandards 3.0. We are very happy to announce that more than 25 institutions provided us with a lot of insights and ideas. Moreover, our users were almost unanimous regarding the must-have and nice-to-have features for the platform.

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Sibos, Dubai - 16 September 2013 – Swift, the financial messaging provider for more than 10,000 banking organisations, securities institutions and corporate customers in 212 countries and territories, today announced at Sibos the findings of its Post-Trade Survey 2013. They show that although regulation is a powerful driver to increase post-trade automation in the current environment, cost reduction is an equally important pressure – closely followed by risk management.

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Sibos 2018 offered an opportunity for its first wave of users to reflect on and share their key learnings

ISO 20022 in bytes for payments: Supporting you through to the end of coexistence

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The payments industry is in transition, converging from a wide variety of legacy message and data formats to ISO 20022: a common, global, end-to-end standard. Extra CBPR+ messages went live in November 2023, and we closed the year with a daily average exchange of 800K messages. ISO 20022 adoption is a cornerstone of the Committee on Payments and Market Infrastructures (CPMI) agenda to improve cross-border payments. We’ll continue to build on the great start made in 2023 and support the Swift…
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