The London Stock Exchange (LSE) has selected Volante Designer for the integration of Swift messaging into its UnaVista engine. According to Mark Husler, head of business development for UnaVista, the integration of Volante will enable LSE to automate the processing of Swift message standards and thus reduce project implementation timescales and associated costs.
LSE moved its centralised reference and financial data management solution, Sedol Masterfile, onto UnaVista in September last year and it has since been engaged in developing further enhancements to the global matching, reconciliation, data integration and validation platform. Accordingly, this deal with Volante will enable UnaVista customers to transmit transaction data to UnaVista in Swift messages for matching, reconciliation and other data management services.
Husler explains the benefits for LSE and its customers: “Data transmission through Swift messaging is an important option for our customers and will enable more firms to participate in UnaVista. Typical UnaVista client requirements include the processing of Swift messages such as MT940/950 for cash and stock reconciliations and MT515 messages for trade confirmation matching. The integration of Volante enables us to automate the processing of these types of message standards, which helps to reduce project implementation timescales and the associated costs.”
The exchange selected Volante following an evaluation of several integration vendors, because is was looking for a solution with out of the box support for Swift and other types of messaging standards with no need to change its system architecture or add new infrastructure, adds Husler.
“We believe that this will make an important contribution to both our post-trade matching utility and our cash and stock reconciliation solutions. As a web-based, exchange hosted solution, which eliminates the need to install expensive hardware and infrastructure, flexibility remains one of the UnaVista’s competitive advantages, and one which we are always looking to develop further,” he continues.