SWIFT Launches Its Advisory Netting Service Draws Chorus Of Yawns From SIBOS Delegates
TECHNOLOGY
The Society for Worldwide Interbank Financial Telecommunications (SWIFT) launched its advisory bilateral netting service this week at its International Banking Operations Seminar (SIBOS) in Hong Kong. Bessel Kok, SWIFT's outgoing CEO, also announced plans by three German banks--Bayerische Vereinsbank AG, Westdeutsche Landesbank Girozentrale and Berliner Handels-und Frankfurter Bank--to test the new netting service.
According to an executive at one of these three banks, both Deutsche Bank AG and
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