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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

FinTech Leader and Ethereum Co-Founder to speak at Sibos

News
Brett King and Joseph Lubin announced as Innotribe opening and closing speakers

More Financial Institutions can now offer services to Corporates over Swift

News
Following Board approval in December 2015, the Annual General Meeting of shareholders (AGM) in June approved the resolution for extending SCORE eligibility of Financial Institutions. Now, any Swift User in the user category “Supervised Financial Institution” can join SCORE and offer messaging services to their corporate customers over Swift.

Reaping the benefits of market reform in the Russian financial market

News
Welcoming over 220 delegates to what has now become a yearly Swift Business Forum appointment in Moscow, Matthieu de Heering, Head of Russia, CIS and Mongolia ran through the agenda for the day, part of which was dedicated to the ROSSwift (Russian national Swift member and user group) AGM, and gave an overview of the growth of the Russian market on Swift, both in terms of users and traffic volumes.

Swift Profile now available for KYC Registry users

News
Unique report helps banks improve the effectiveness and efficiency of their KYC compliance activities.

International experts support ISO 20022 migration

News
- Swift convenes working group of international standards experts - Group to formulate guidelines for the implementation of ISO 20022 for cross-border payments - Effort to ensure harmonised rollout of ISO 20022 across the world

Deutsche Bank joins the group of 30+ banks actively using Swift GPI

News
Deutsche Bank’s latest report on Swift GPI demonstrates the power behind the service

SMPG meeting joins global securities market specialists at the ECB in Frankfurt on the 23-25th of April

News
Download the Securities Market Practice Group - Press release

Swift and Blitz Group automate transaction flow between brokers and banks for securities clearing in Vietnam

News
Hong Kong, June 19, 2012 – Swift announced today that its solution for automated cash and securities clearing between Securities Companies (Brokers) and Banks (and Custodians) is now live in Vietnam.

A community approach to promoting trust, transparency, and efficiency in KYC processes

News
Swift’s KYC Registry is now fully aligned with the latest Wolfsberg Group due diligence questionnaires, giving banks everything they need to manage their correspondent relationships in one place.

Swift appoints Max Mamondez as Chief Financial Officer

News
Mamondez brings over 25 years of international industry experience Previous roles include CFO for International Markets at Mastercard, and Group Head, Corporate Financial Planning and Analysis at the London Stock Exchange Group
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