messaging architecture
SWIFT has announced that from 1 January 2008 high-volume customers
will have the option of a three-year fixed-fee pricing scheme for
messaging. The fixed-fee option will be equivalent to 95 percent of
the messaging charges paid by the customer for the previous year
and will include an entitlement to increase messaging use by 50
percent in value at no additional cost.
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High-volume customers account for about 80 percent of all messaging
traffic exchanged over SWIFT. Smaller volume users can also look
forward to lower costs.
“We are making fundamental changes to the way we charge for our
services to reflect the diversity of our customer base,” said
SWIFT’s CFO, Francis Vanbever. “Lower volume users will soon
benefit from a new service model that will significantly reduce the
cost of connecting to SWIFT.”
Meanwhile, SWIFT’s board of directors has approved a €150 million
($213 million) investment to establish multi-zonal messaging
architecture that will entail the establishment of a global
operating centre in Switzerland and a command and control
capability in Hong Kong. This will allow SWIFT’s operations to be
run from Asia, as well as Europe and the US.
“Intra-zone messages will stay within their region of origin,
thereby overcoming data protection concerns,” said SWIFT’s CEO,
Lázaro Campos. “For example, messages internal to the European
economic area and Switzerland will be processed and, where
applicable, stored only at SWIFT’s two European operating
centres.”
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By GlobalDataConcerns over European data security were triggered in June 2006 by
a revelation from the New York Times that, for five years, data
transmissions of SWIFT had been subject to secret scrutiny by the
Office of Foreign Assets Control of the US Treasury
Department.
