Mumbai: The Bombay Stock Exchange today said it has tied-up with Belgium-based Society for Worldwide Interbank Financial Telecommunication (SWIFT) for secure and reliable transfer of high quality data for BSE-listed firms. "SWIFT solution will give custodians access to high quality data on corporate actions.
There is a lot of interest in the international arena for corporate actions data from India and I believe the potential for this tie-up is quite high," BSE Managing Director and CEO Madhu Kannan said in a statement here. Initially, the service has been taken up by Standard Chartered Bank, Deutsche Bank, Citibank and HSBC, it said.
SWIFT is a member-owned cooperative that provides the communications platform, products and services to connect over 9,000 banking organisations, securities institutions and corporate customers in 209 countries. The service would be used by the custodian bank community, brokers, hedge funds, the investment management community or anyone on the SWIFT network, it said.
SWIFT Asia-Pacific Head of Securities Markets Adam Wilson said, "This improvement to the speed, accuracy and automation of corporate information to the end-investor means global and domestic investors will have better information about the Indian market." This is important to global investors, who are increasingly interested in corporate event information from India and participating in this dynamic market, he said.