FIX and Swift

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Imported from previous forum

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[ original email was from Nikhil Bose - assistsoft@yahoo.com ]
Hello,

Is there much interest in integrating FIX and Swift, i.e. mapping or routing from FIX to Swift and vice versa outside of the GSTPA?

Are there any vendors that are doing both FIX and Swift in the same context? In the same vein, is there interest in systems that can handle both FIX and Swift in the same process, and convert from one to the other?

Finally, since there is a lot of interest in FIXML, is there interest in an XML description of Swift? In other words, basically encoding the Swift User Handbooks in XML.

Thanks,
Nikhil

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[ original email was from Danny Shobrook - dzshobrook@dial.pipex.com ]
> Hello,
>
> Is there much interest in integrating FIX and Swift, i.e. mapping or routing from FIX to Swift and vice versa outside of the GSTPA?

My understanding is that FIX dominates pre-trade and trade with SWIFT dominating post-trade. The amount of FIX allocs and settlement instructions are relatively small. Similarly the amount of SWIFT trade traffic is insignificant. Hence there is currently little real overlap, also to use SWIFT for trading you need someone on the other side. A quick flick throught the brokers using FIX should convince you that you are going to be rather lonely trying to trade via SWIFT.

> Are there any vendors that are doing both FIX and Swift in the same context? In the same vein, is there interest in systems that can handle both FIX and Swift in the same process, and convert from one to the other?

There are a number of middleware products that do the really usefull work which is taking the FIX blocks or exec reports and kicking off the SWIFT settlement process. The DTC offer this service as do some custodians.

Danny

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[ original email was from John Whelan - john.whelan@enba.com ]
Danny,

I would appreciate any details you may have of middleware products that do what you describe below. Who do you mean by the DTC?

Thanks
John

> There are a number of middleware products that do the really usefull work which is taking the FIX blocks or exec reports and kicking off the SWIFT settlement process. The DTC offer this service as do some custodians.
>
> Danny
>