VIDEO | While we wouldn’t stay long with a phone operator who flunked on every twentieth call, failure rates at 5 percent are normal in securities trade settlement – a procedure that may involve 10 different actors. A panel with representatives from Swift, SEB and JP Morgan discussed whether the incoming industry-standard “unique transaction identifier”, UTI, could bring improvement.
The UTI is a 52-character field in Swift’s trade messaging standard, with the first 20 characters being the LEI (legal entity identifyer) of the marketplace where the trade was generated. The solution builds on Swift’s similar way of handling information around payments.
Panelists were …
Christine Strandberg, Regulatory Manager, Investor Services, SEB,
Emma Johnson, Executive Director, J.P. Morgan,
with Simon Daniel, Product Manager, SWIFT, moderating the talk.
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