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A-Team Insight Blogs

Vermeg’s Settlement and Corporate Action systems Achieved 2008 SWIFTReady Label Accreditation

VERMEG, the accredited global securities processing software specialist announced today that Megara’s, MegaCustody and MegaCor modules have gained the prestigious Securities Settlement and Corporate Actions SWIFTReady labels for 2010. MegaCor achieved the certification having been assessed against numerous global market scenarios and MegaCustody against global market practices. The SWIFT certification report underlines the uniqueness of Megara in complying with the best market practice standards and its strong capability to detect message errors. MegaCustody and MegaCor are the only systems in the market to have achieved the SWIFTReady label every year since 2002 and 2003 respectively, underlying Vermeg’s total commitment to lead and support market standards retaining its prominent position amongst software vendors.

Myriam Sanhaji, Head of product, at Vermeg said “We believe it is important to put our systems to the most challenging tests we can find, to prove beyond doubt that we have some of the best functionality available to financial services firms.  We have a long track record of working closely with SWIFT, participating in the definition and application of new international standards, as we did for ISO15022 in 2002 and now for ISO20022. We are actively preparing our technology to be one of the first providers to manage ISO20022 and in particular Proxy Voting messages which will be delivered to our clients later this year. We are particularly pleased that SWIFT’s testing for Corporate Actions included both UK and US market scenarios proving the strength of Megacor in the two largest international markets.”

Hervé Valentin, Senior Business Development Manager, SWIFT says “Throughout the 2010 SWIFTReady certification process, Vermeg again proved their commitment to deliver high-quality software which complies with SWIFT Standards and market practices. Vermeg’s Megara product suite scored high, which is particularly remarkable given the recent toughening of the 2010 certification criteria”.

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