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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

EU Parliament hearing: Swift statement and press release

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For immediate release

Leveraging industry collaboration to tackle KYC challenges

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As regulatory requirements increase, corporate treasurers dedicate significant resources and time to performing Know Your Customer (KYC) compliance processes

Swift and CSD community advance blockchain for post-trade

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Swift and central securities depositories join forces to demonstrate the value of standards in distributed ledger technology for securities markets, such as proxy voting and digital assets

Digital Shadows and OpenGamma win Belfast Innotribe Startup Challenge showcase

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Brussels, June 18 2012 - Innotribe, Swift's initiative to enable collaborative innovation in financial services, announced that Digital Shadows and OpenGamma have been awarded "Top Startup" and "Top Innovator" respectively, at the third and final Innotribe Startup Challenge Regional Showcase held on June 14, 2012 in Belfast.

Swift’s Innotribe Gives Start-ups Opportunity to Transform the Banking Sector

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LONDON, 25 February 2013 - Small businesses and entrepreneurs with the potential to transform global financial services will have the chance to pitch their ideas to leading banks and investors, thanks to the London Innotribe Startup Challenge to be held at Level39, Canary Wharf on 18 April.

Five things to know about Swift’s Corporate-to-Bank initiative in ASEAN

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What you need to know about the Swift Corporate-to-Bank initiative, which has received strong support in the Philippines and Indonesia

SwiftNet Instant to provide access to EBA CLEARING’s RT1 system

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Latest partnership helps maximize instant payments access for the European financial community

Societe Generale extends use of Swift’s 3SKey to UK

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London, 28 November 2012 - Swift, the financial messaging provider for more than 10,000 financial institutions and corporations in 212 countries, announced today that Societe Generale has committed to migrating its UK corporate customer base to 3SKey, Swift's digital identity solution.

Swift appoints new Head of Market Initiatives in the Americas

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David Lefferts joins the Swift Americas Management Team.

Swift eases trade reporting for EMIR compliance

News
Brussels, 14 January 2014 - Following the European Securities and Markets Authority's (ESMA's) approval of six trade repositories, there is a start-date of 12 February 2014 for derivatives trade reporting under the European Market Infrastructure Regulation (EMIR). From 12 February, entities affected by the EMIR reporting obligations will need to report their trades to one of the newly-authorised repositories.
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