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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

Luxembourg now Second Highest Euro Country in RMB payments

News
Brussels, 27 August 2013 – Luxembourg is ranked #8 in the world for RMB payments value (excluding China and Hong Kong) in July 2013, making it the second highest placed Euro country behind France at position #6 (see April Tracker).

Management Changes

News
Chris Church to step down; Javier Pérez-Tasso appointed Chief Executive of the Americas, UK, Ireland and Nordics.

Banks must change their business model

News
BCG and Swift’s white paper formulates strategic choices banks face as new forces in international payments drive profound transformation

ISO 20022 adoption: Moving towards a common language

News
Sibos panellists discuss key elements of the transition to the new industry standard.

The Bank of Tokyo-Mitsubishi UFJ chooses Swift’s 3SKey solution in Japan

News
Sibos, Dubai, 18 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 that The Bank of Tokyo-Mitsubishi UFJ (BTMU) has become the first Asian bank to adopt the multi-bank digital identity solution 3SKey in the region. BTMU will initially offer the solution to its corporate customers for transaction signing using personal signatures.

300 customers choose Alliance Lite2 as their Swift connection over the last 12 months

News
Sibos, Dubai, 17 September 2013 - Swift, the financial messaging provider for more than 10,000 financial institutions and corporations in 212 countries, today announced at Sibos that its cloud-based connectivity, Alliance Lite2, has been adopted by more than 300 customers globally over the past 12 months.

Media FAQ: Shadow Brokers

News
Allegations surrounding attempts to gain unauthorised access to data at two service bureaux.

Swift and Fox-IT reconfirm cyber cooperation during Belgian state visit to the Netherlands

News
Memorandum of understanding cements cyber security cooperation

Swift engages expert cyber security firms and establishes dedicated Customer Security Intelligence team

News
Swift’s Customer Security Programme advances as information sharing initiative delivers early results

Swift echoes industry’s support for correspondent banking due diligence initiative, aligning KYC Registry with latest Wolfsberg Questionnaire

News
As part of its ongoing efforts to support the industry in tackling the global decline in correspondent banking relationships, Swift has aligned its Know Your Customer (KYC) Registry with the new Wolfsberg Correspondent Banking Due Diligence Questionnaire (CBDDQ) and Financial Crime Compliance DDQ (FCCDDQ).
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