Swift will reinforce its connectivity to Norway’s central securities depository
Toronto, 19 October 2017 – Swift will reinforce its connectivity to Verdipapirsentralen ASA (VPS), Norway’s central securities depository (CSD), which could make a shift in transaction volume to SwiftNet from other networks.
Banks connected to VPS currently use different networks to connect to VPS, SwiftNet being one of them. The banks have the freedom to choose among the network connectivity offered by VPS. By signing the Swift CSD Community Agreement, VPS’s members benefit from Swift’s CSD Community Offering, which significantly reduces current level of SwiftNet costs for connectivity to VPS.
Nadine Limbourg, Senior Market Manager at Swift, comments: “Approximately two-thirds of transactions to the Norwegian market are foreign transactions derived from international centres, such as London. It is therefore critical for Norway to have standardised and efficient connectivity with market participants globally.”
Sveinung Dyrdal, EVP, Head of Client Relations and Business Development at VPS, comments: “By signing the CSD Community Offering Agreement with Swift, VPS is taking already efficient procedures to a higher level for the benefit of our clients. The VPS partnership with Swift is a key enabler for VPS to stay competitive in international capital markets.”
By signing the CSD Community Offering Agreement with Swift, VPS is taking already efficient procedures to a higher level for the benefit of our clients. The VPS partnership with Swift is a key enabler for VPS to stay competitive in international capital markets.
Annika Lindgren, Senior Account Director, Swift Nordics, comments: “With the Swift CSD community offering, we are pleased to see VPS introducing the offer to it’s members. The CSD Community pricing will make SwiftNet more competitive as the connectivity channel for securities traffic.”
Notes to Editors
About Swift
Swift is a global member owned cooperative and the world’s leading provider of secure financial messaging services. We provide our community with a platform for messaging and standards for communicating, and we offer products and services to facilitate access and integration, identification, analysis and regulatory compliance.
Our messaging platform, products and services connect more than 11,000 banking and securities organisations, market infrastructures and corporate customers in more than 200 countries and territories. While Swift does not hold funds or manage accounts on behalf of customers, we enable our global community of users to communicate securely, exchanging standardised financial messages in a reliable way, thereby supporting global and local financial flows, as well as trade and commerce all around the world.
As their trusted provider, we relentlessly pursue operational excellence; we support our community in addressing cyber threats; and we continually seek ways to lower costs, reduce risks and eliminate operational inefficiencies. Our products and services support our community’s access and integration, business intelligence, reference data and financial crime compliance needs. Swift also brings the financial community together – at global, regional and local levels – to shape market practice, define standards and debate issues of mutual interest or concern.
Headquartered in Belgium, Swift’s international governance and oversight reinforces the neutral, global character of its cooperative structure. Swift’s global office network ensures an active presence in all the major financial centres.
For more information, visit www.swift.com or follow us on Twitter: @swiftcommunity and LinkedIn: Swift.
About Verdipapirsentralen ASA (VPS)
Verdipapirsentralen ASA (VPS) was incorporated in 1985 in connection with the introduction of electronic securities registration to replace physical securities in Norway.
VPS is the only central securities depository in Norway, and provides an efficient infrastructure and services for the settlement of transactions in securities and the registration of ownership rights over securities. The company offers registration for all the major types of financial instruments that are traded in Norway, namely shares, bonds, equity certificates, short-term bonds and funds. VPS offers a range of products that is extensive even by international comparison.
VPS delivers its services for investors and issuers through a network of investment banks, brokers, banks and fund management companies. These entities, acting as account operators, are responsible for customer relationships with investors and issuers, and manage day-to-day access to VPS services.
Contacts:
Swift
Chatsworth Communications
Tel: +44 (0)20 74409780
swift@chatsworthcommunications.com
Verdipapirsentralen ASA (VPS)
Sveinung Dyrdal; EVP, Head of Client Relations and Business Development
Tel: +47 908 35 539
sdy@vps.no
