The partnership will boost standardisation and harmonisation in India’s securities markets
Mumbai: SWIFT India announces today that Marketplace Technologies Pvt. Ltd (Marketplace), a 100 % subsidiary of the Bombay Stock Exchange (BSE) will act as its Service Bureau for securities markets in India providing a standardised, cost-effective, robust and secured infrastructure to all market participants.
As the Indian regulators are encouraging the adoption of global messaging standards like ISO 20022 to bring operational efficiency in Indian securities market, the partnership with Marketplace is expected to provide easy access to industry players like asset management companies, broker dealers to connect to SWIFT India network which will help securities participants to automate and standardise their communication including areas but not limited to investment account management, fixed income trade settlement & trade reporting, investment funds subscription & redemption which will bring operational efficiency and reduce risk.
Supporting asset management companies (AMC) with their investment cash management activities will be the first flows to go live in November and will be accessible to other securities participants like insurance companies, broker dealers, depositories and custodians.
Ashishkumar Chauhan, Chief Executive Officer, BSE said: “BSE is a strong advocate of standardisation and message harmonisation. We are delighted to see Marketplace partnering with SWIFT to provide a cost-effective solution for our market participants to connect to BSE in a secure, resilient and standardised way“.
Kiran Shetty, Chief Executive Office, SWIFT India said: “Partnering with Marketplace and leveraging their leading position in the field reconfirms our commitment to drive consistent adoption of international standards and best practices in India. A harmonised approach and a consistent collaboration across the market will bring increased operational efficiency to the industry.
Your email address will not be published. Required fields are marked *
Save my name, email, and website in this browser for the next time I comment.
Sign me up for the newsletter!
Notify me of follow-up comments by email.
Notify me of new posts by email.
Seniority encourages ‘Ageing with Independence’ to observe World Alzheimer’s Day
Buying a Water Filter Online!
Zendesk’s Double-Digit Growth in APAC Cements its Commitment to Developing Tech Talent Across the Region
Hungama’s latest Marathi original show, ‘Shree Kaamdev Prasanna’ crosses 43 lakh episodic views in 30 days!
Mother Dairy – Pioneers of Automated Bulk Milk Vending – Announces Pan-India Plastic Waste Collection & Recycling Drive
2014 The Global Indian New Network (TGINN)