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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

Payments transformation in the Middle East and Turkey

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The rapid growth of digital payments around the world, in part driven by the COVID-19 pandemic, has created a lasting change in the way that we do business, from central bank to commercial, corporate treasurer and beyond. Stakeholders from across the community in the Middle East and Turkey shared their experiences at a recent Swift online event.

Swift CEO addresses EU parliament

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Swift CEO Lázaro Campos told EU Parliamentarians today, "whatever the outcome of the current discussions about the use of data for counter-terrorism purposes, what we must not jeopardize are the protections which exist today for citizens' data, the certainty of the legal framework within which companies operate and the commercial level playing field." Mr Campos was also keen to emphasise that the debate is not about Swift, but about how Europe plans to cooperate with the US for counter…

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Payments fraud prevention and protection requires action from all facets of the financial services industry.

Swift data shows intra-Africa payments clearing and trade is increasing

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Use of US dollar declining while West African franc and South African rand increasing

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Swift's recently published strategy, "Grow the core, build the future" sets out an ambitious agenda for the next five years.

Banks see “clear potential and value” in Swift’s experimental CBDC connector after sandbox collaboration

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Swift innovation enables CBDCs to move seamlessly on existing financial infrastructure and efficiently scale for international transactions across more than 200 countries 18 central and commercial banks encourage continued development after nearly 5,000 CBDC-to-CBDC and CBDC-to-fiat simulations over 12-week period Swift will build beta version for further testing and explore additional use cases in securities settlement and trade finance

Swift GPI reaches $40 trillion milestone at two year anniversary

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Cass report identifies challenges and opportunities for Dubai as an International Financial Centre

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Dubai, 17 September 2013

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Payments are evolving fast — and in 50 years the experience could be vastly different to that of today. Three payments experts look to the future.

ISO 20022 in bytes for payments: A look ahead at 2023’s important milestones

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After years of intense preparation by the global financial community, the successful migration to ISO 20022 for cross-border payments and reporting (CBPR+) started on 20 March. Since then, we see a daily average of more than 500,000 CBPR+ messages exchanged, representing around 15 percent of the total cross-border payments traffic on the Swift network, and with a negative acknowledgement (NACK) ratio comparable to the FIN one. CBPR+ exchanges involve 1,000+ BICs on the sending side and…
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