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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

Swift’s ISO 20022 services for cross-border payments ready for customer testing with launch of In-flow Translation

News
Complete environment ready for customer testing Available 12 months before migration period begins Suite of test services includes network-based ISO 20022 to MT (‘in-flow’) translation Production services will support the industry’s adoption of the new standard  

New Director, Asia Pacific, joins Swift

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Singapore, 9 August 2013 - Swift, the financial messaging provider for more than 10,000 banking organisations, securities institutions and corporate customers in 212 countries and territories, announced the appointment of Edward James Haddad (Eddie Haddad) as Director, Asia Pacific.

Swift Index Predicts Strong UK GDP Growth through Q3

News
Brussels, 21 June 2013 - Swift, the financial messaging provider for more than 10,000 financial institutions and corporations in 212 countries, has released its latest Swift Index data based on an average of 2 million Swift payments messages per day.

Brazil’s Banco Original adopts Swift’s KYC Registry

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A move that further strengthens compliance programs across the Latin America region

Swift Institute publishes new paper on financial stability

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New paper examines the basic criterion necessary for regions to obtain financial stability and avoid a repeat of the financial crisis impacting the industry since 2008.

Joint Swift/EFAMA report shows encouraging increase of fund processing standardisation

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2014 mid-year status update confirms total industry ISO automation rates continue to progress.

Swift highlights the four key factors that are set to shape the development of Africa’s securities markets

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Diani, Kenya, 25 November 2014 - Swift is a proud sponsor of this year's ASEA Conference, now in its 18th year. The 2014 event brings together the Association's members of 23 African securities exchanges as well as investors from the United States, Europe, the Middle East and Asia to discuss the evolving role of the capital markets in driving Africa's growth potential.

GE recognized with NACHA’s PayItGreen Award for reducing environmental impact using Swift eStatements

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New York, April 24, 2013 - GE has been selected as the 2013 recipient of NACHA's PayItGreen Award for the positive environmental impact it has fostered by digitizing banking payments, statements and bills. GE and Swift collaborated to streamline treasury and banking operations utilizing Swift's eStatements utility to reduce GE's carbon footprint and realize significant costs savings.

Swift Innotribe announce five finalists of Startup Challenge Singapore

News
Singapore, May 17, 2013

Swift Innotribe announces semi-finalists for Startup Challenge London

News
London, 8 April – Innotribe, Swift’s initiative to enable collaborative innovation in financial services, is holding the European leg of its annual Startup Challenge in London on 18th April at Level39, Canary Wharf. The competition aims to foster innovation in the financial industry by introducing companies delivering new and innovative products and services in fintech and financial services to the wider financial community. The Challenge provides the most promising entrepreneurs the…
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