25 July 2023 - The Citco group of companies (Citco) is pleased to announce an upgrade to Æxeo® Treasury which will enable users to transfer securities. This new functionality allows users of Æxeo Treasury to have securities delivered via global financial messaging network Swift on its new security transfers service, known as Securities View.
The service can assist users with a variety of functions, including collateral management, as well as managing workflows. Swift recently launched Securities View to track end-to-end securities transactions, enabling users to quickly identify any issues and avoid costly settlement failures. Securities View provides greater transparency around the status of trades throughout their lifecycle, and should ultimately assist in speeding up the finalizing of trades, benefiting all parties. Creating a security transfer via Æxeo Treasury using this new service is as straightforward as carrying out a cash transfer, following the same procedure and using the same validation and approval process.
The upgrade follows the launch of Citco’s own commercial gateway to provide access to Swift in 2022. Citco’s commercial gateway enables institutions across the financial spectrum - from banks and corporates to fintechs and alternatives managers - to access the Swift network via their own platforms by using their own BIC code, all without having to build their own infrastructure to do so.
By accessing Swift via the gateway, users can also cut down the amount of time employees need to carry out specific functions linked to Swift, including annual Swift compliance and annual audits. The gateway sits alongside Citco’s Middle Office Solutions Treasury Managed Service, which also provides clients with access to Swift.