Last Friday, SWIFT released its latest standards, including a number of significant changes to SWIFT messages used within the securities market. These changes will impact the entire trade lifecycle, from the trade orders through to confirmations and settlement.

SWIFT has also introduced a new version of SWIFTRef called ReachPlus, which will require firms to migrate to the new data directory in order to route transactions. SWIFTRef provides users access to reference data (BICs, IBANs, etc.), and the new ReachPlus directory will allow users to find the optimal routing details to their beneficiary bank.

Volante Technologies, a provider of software for the integration, processing and orchestration of financial messages, has confirmed its support for the updated SWIFT Standards with its updated core SWIFT plug-in.

The go-live date for the new standards is on 20 November 2016, enabling businesses to prepare for the deadline.