Investment Managers And Service Vendors Criticise Swift ETC Plans

The UK-based Industry User Group (IUG), an international investment management industry association, and a group of electronic trade confirmation (ETC) systems vendors have expressed their jointly held concerns regarding Swift's plans to enter the ETC systems market.

At a joint press conference held in New York and London, the IUG and ETC systems vendors vented their growing concern that Swift has excluded them from having any part in formulating or assessing the specifics of its prospective ETC

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