'Record high' volume
By Zhu Shenshen |
April 24, 2010, Saturday
|
Print Edition
Print Edition
SWIFT, which develops a shared messaging platform for financial transactions, said yesterday that message volume is expected to hit "a record high" this year in China, thanks to the next-generation bank payment system and new stock services in the country.
Swift, or the Society for Worldwide Interbank Financial Telecommunication, is involved in the cross-board yuan trade, new securities services such as QFII (qualified foreign institutional investor) and upgraded banking payment system, according to the organization.
"China will lead the market rebound, and we have seen the opportunity here," said Ian Johnston, SWIFT's Asia Pacific chief executive.
In March, SWIFT's message volume in Chinese stock markets jumped 115 percent year on year, compared with 58 percent growth in the same month a year ago.
SWIFT has cooperated with the Shanghai and Shenzhen stock exchanges to better regulate the securities sector.
The Shanghai Stock Exchange will test and improve the upgraded trading system through cooperation with SWIFT.
Swift, or the Society for Worldwide Interbank Financial Telecommunication, is involved in the cross-board yuan trade, new securities services such as QFII (qualified foreign institutional investor) and upgraded banking payment system, according to the organization.
"China will lead the market rebound, and we have seen the opportunity here," said Ian Johnston, SWIFT's Asia Pacific chief executive.
In March, SWIFT's message volume in Chinese stock markets jumped 115 percent year on year, compared with 58 percent growth in the same month a year ago.
SWIFT has cooperated with the Shanghai and Shenzhen stock exchanges to better regulate the securities sector.
The Shanghai Stock Exchange will test and improve the upgraded trading system through cooperation with SWIFT.
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