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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

Citibank and Standard Chartered Bank become shareholders of Swift India

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Citibank and Standard Chartered Bank are the two first global banks to join the initiative

Swift revolutionises Australian banking with real-time payments

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Next steps of global instant payments strategy underway in Europe, Asia and the Americas

Data and buy-side engagement key to FX market self-regulation

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Codes of conduct and market standards address poor behaviour in FX markets far more effectively than formal regulation − which has inadvertently altered the balance between liquidity providers and liquidity consumers, and could even discourage prudent behaviour. But, buy-side commitment and improved data transparency are recommended strategies to further improve behaviour.

Universal confirmations to transform the way we do business

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Experts from Societe Generale, Roche, ACI Worldwide and Swift came together at Sibos in London to explore how universal payment confirmations will benefit global trade.

Swift offers 200,000 EUR for FinTech community to leverage gpi platform

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Swift GPI industry challenge fosters collaborative innovation between banks and FinTech companies from around the world

BNY Mellon Goes Live with DTCC Corporate Actions Messaging Solution over the Swift Network

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NEW YORK, August 16, 2012 ─ The Depository Trust & Clearing Corporation (DTCC) and Swift, the financial messaging provider for more than 10,000 financial institutions and corporations in 210 countries, today announced BNY Mellon is the latest financial institution to go live on DTCC’s new corporate actions messaging solution over the Swift network.

Lázaro Campos announces he will step down as CEO

News
Brussels, 21 May 2012 – Swift CEO Lázaro Campos has notified the Board of his intention to leave the company. After 25 years with the company, the last five of which were successful years as CEO, it is his intention to pursue opportunities outside Swift. Under his leadership, Swift embarked on an ambitious growth and transformational strategy (Swift2015), almost doubling volumes, maintaining excellent operational performance while successfully reducing costs by 30%, and prices by 50%.

What is a Unique End-to-end Transaction Reference (UETR)?

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A Unique End-to-end Transaction Reference (commonly known as a UETR) is a string of 36 unique characters featured in all payment instruction messages carried over Swift.

Growth in Swift’s business in the Middle East outperforms global growth

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Dubai, 6 February 2013 - Swift, the financial messaging provider for more than 10,000 banks, securities institutions and corporate customers in 212 countries and territories, today announced that its business in the Middle East has outperformed the total growth of the business globally by 45%, underpinning the growing importance of the region as a hub for international banking and finance.

Swift and Wise join forces to expand cross-border payment options globally

News
Collaboration will help financial institutions provide a greater range of choice to their customers for cross-border payments Payments initiated by banks via Swift will be able to complete on Wise quickly and easily through Wise Platform's new Correspondent Services offering
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