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Trace Financial
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Delivering Financial Messaging and Transformation Solutions
Delivering Financial Messaging and Transformation Solutions

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Very excited about Sibos in Dubai next week and the calendar is filling up nicely for demonstrations of Transformer 3.4.3

If you haven't already booked your demo slot then don't delay or just pop round to stand A108 (right next to SWIFT)
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As providers of financial messaging solutions, we at Trace Financial often find ourselves discussing the long-heralded advent of ISO 20022 messages with banks, data vendors and other financial service providers. Many of them have a growing and uneasy sense that “it’s getting closer” (or even “it’s right behind you!”) but find it hard to identify exactly what direction “it” is coming from, what will be needed to deal with it, and when to put an effort into developing or acquiring those capabilities. So what are the answers?
 
Let’s start by taking a look at the two very different directions where the pressure for ISO 20022 messaging is coming from ...
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At Trace Financial we’ve spent many years working on financial messaging projects with our clients. We’ve seen how, over the last couple of decades, the nature of the beast has changed, gradually but significantly. The main challenges today are nothing like those that were faced in earlier times. Those who are not actually working at the coalface of messaging may not have registered the significance of the shift. In this article we’ll take a look at these changes, and see how a firm’s approach to messaging can be improved.
 
The best way to misunderstand messaging is to think that it is a technical job concerned mainly with sending and receiving messages - the transport technology - which the IT department takes care of somewhere deep in the plumbing of the organisation. Years ago the primary focus was indeed on transport issues - connectivity, protocols, guaranteed delivery and so forth. Today, except in the arcane world of high-frequency trading, transport issues are not the focus of attention. In the post-trade space they have, in the main, been addressed by various flavours of generic middleware which have reduced the message transport issue to a commodity. Today the problem lies elsewhere ...  
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