Glossary | SWIFT Developer Portal

1

11-character BIC

An 11-character BIC (optional element attached to 8-character BIC) that comprises the following components: party prefix, country code, party suffix, and branch identifier.

3

3SKey

3SKey (SWIFT Secure Signature Key) provides a mechanism to enable corporates to sign financial messages and files that they send to their banks, using a USB token. 3SKey can be used on the SWIFT network, but also on proprietary networks, or the Internet. More information - Documentation

8

8-character BIC

A BIC that comprises the following components: party prefix, country code, and party suffix. See also business party identifier.

a

abort

Abort can refer to a delivery abort, a file transfer abort, or a session abort.

abort notification

A system message that alerts the sender of an acknowledged, live input message that the system has aborted the delivery of the message. An error code indicates the reason for the delivery abort.

activation data

Data values, other than private and public keys, that SWIFT requires to initiate the certification process and to operate the cryptographic modules. Activation data must be protected. Examples of activation data include PINs, passwords, and activation secrets.

activation date

The date on which a SWIFT service update becomes operational. SWIFT usually introduces updates to its services through an activity called provisioning. Typically, SWIFT does not perform provisioning in real time. This is because of the required validation and verification, and because one update may require synchronised changes on different systems. As a result, SWIFT often schedules updates in advance of performing them.

activation secrets

A pair of passwords that either the user's certificate administrator or the SWIFTNet Registration Authority issues to a subscriber when the subscriber has successfully registered for a service. The subscriber uses these secrets only once during the certification process, after which the secrets become invalid.

addressing

Addressing is a function that links the identity (the name) of an entity (for example, an institution, an individual, or an application) that sends or receives SWIFTNet messages, with a means of routing the message (that is, an address). SWIFT uses addressing to route messages within the networking system, and to ensure that messages reach the right recipient.

addressing DN

The Distinguished Name of the requestor or the responder of an InterAct or FileAct message. The distinguished name that is at the top of a SWIFT user's addressing tree contains the BIC of that user.

administered institution

An institution for which the security officer of another institution (called the administering institution) handle online security matters.

administering institution

An institution that handles the online, security-related matters of its own institution, and at least one other institution (called the administered institution).

allowable downtime window (ADW)

A period during which SWIFT performs scheduled maintenance activities or business continuity and disaster recovery tests. SWIFT does not guarantee service availability during these periods. Allowable downtime window schedules are available on the Operational status page of the www.swift.com Support section.

application header

In the context of FIN (MT messages), the second block of a FIN message header that provides application-specific information about the message to which it is attached. The structure of the application header is different for input message and output message.

application identifier

A 1-letter code in the basic header of a FIN message, which identifies the application through which SWIFT processes the message (for example, the FIN application or the General Purpose Application).

application service profile

The profile that contains a set of parameters to be used by messaging interfaces and applications to correctly send and receive traffic through that service. These parameters trigger the usage of features within SWIFTNet or describe what a messaging interface must do with traffic sent or received.

authentication

A process that SWIFT uses to confirm the identity of the sender or the receiver of a message, or to prove the integrity of specific information. Message authentication determines the source of a message, and verifies that no-one has modified or replaced the message during transit.

authentication mode

A mode that is used in SWIFTNet copying services. The authentication mode indicates whether the copy service is using normal (single) authentication or double authentication.

authentication string

A pair of passwords that the SWIFTNet Registration Authority returns to the security officer of an institution that has registered a new SWIFTNet Link. The authentication string authorises the SWIFTNet Link installer to download the necessary SWIFTNet Link activation and certification files from the SWIFTNet Link secrets download server.

authorisation code

One half of the element pair that the SWIFTNet Registration Authority returns to the security officer when it registers a new security end point. The security end point feeds the authorisation code into the Key Management Application when it generates keys and certificate.

authoriser DN

The Distinguished Name of the Public Key Infrastructure certificate holder that has logged on to the SWIFTNet Link interface to send a message on SWIFTNet. This term only applies to InterAct and FileAct.

automated login/select

A facility within the SWIFT secure login and select service, by which an interface can log in and select without human intervention. See also Login command, Select command.

availability

The percentage of time during which the messaging service are available to users. The published availability figures are weighted to give a single overall availability percentage that reflects the impact of outages affecting only parts of the user base or parts of SWIFT services.

A

ACK

The term that is often used in communication protocols to acknowledge that one party has correctly received the information sent by another party. Issuance of an ACK does not indicate that the issuer accepts the business content of the information that it has acknowledged. ACK stands for acknowledgement.

Alliance

The SWIFT brand name for the range of connectivity products that customers use to connect to SWIFT services.

Alliance Access

SWIFT's prime messaging interface. Alliance Access is designed to connect business applications to SWIFT messaging services. Alliance Access is a multi-platform interface that enables customers to connect single or multiple destinations to SWIFT with maximum automation of system management tasks.

Alliance Access Integration Platform (IPLA)

An optional tool which enables communication between the user s back-office systems and SWIFT. The tool supports communication in different message formats and can contact other systems for data validation and enrichment.

Alliance Access Kit

An Alliance Kit that SWIFT has designed for customers that opt for a private infrastructure and require automation and high levels of integration with their back-office applications. More information - Documentation

Alliance Bank File

A BIC Directory Download for Alliance users. The file can only be used to upload BIC data into the customer's correspondent information file. Documentation

Alliance Connect Bronze

The network connectivity product designed for customers that receive or send less than 1,000 messages per day. With Alliance Connect Bronze, customers connect in a secure and cost- effective way to SWIFTNet through the Internet. More information - Documentation

Alliance Connect Gold

The network connectivity product for high-volume users that require the highest resilience and service levels. By using the managed access solutions of SWIFT Network Partners for both Leased Line connections, SWIFT is able to offer a highly resilient configuration with guaranteed bandwidths and service levels. More information - Documentation

Alliance Connect Silver

The network connectivity product designed for customers that receive or send between 1,000 and 40,000 messages per day. The managed access solutions of SWIFT Network Partners provide guaranteed bandwidths and a high service level. The internet channel provides a cost-effective back-up connection. More information - Documentation

Alliance Connect Silver Plus

An option of Alliance Connect Silver that enables customers to use the internet line as the primary connection to SWIFTNet and the Network Partner line as back-up connection. Documentation

Alliance Connect Virtual

Alliance Connect Virtual is the network connectivity product that enables users to deploy virtual VPN instance(s) in public cloud environments.

Alliance Developers Toolkit (ADK)

A SWIFT product that enables developers of third-parties and financial institutions to build their own applications for Alliance Access.

Alliance Entry

A messaging interface that SWIFT has developed for low-volume customers that use a single destination. Alliance Entry offers the flexibility and control of a private infrastructure. Its features include basic automation through its batch File Transfer Adapter and a GUI framework for manual input. More information - Documentation

Alliance Entry Kit

An Alliance Kit that SWIFT has designed for customers that opt for a private infrastructure and require basic functionality. More information - Documentation

Alliance Essentials Kit

An Alliance Kit that SWIFT has designed for customers that use the full SWIFTNet infrastructure of another customer, service bureau, or their head office. More information - Documentation

Alliance Gateway

A software package that is installed on top of SWIFTNet Link. SWIFTNet Link provides the basic set of network connection services, Alliance Gateway enables application-to-application communication and facilitates connectivity to the SWIFT secure IP network. Alliance Gateway can also act as a concentrator of the SWIFTNet message flow, whereby multiple business users connect through Alliance Gateway to SWIFTNet. This is achieved by means of Alliance Web Platform to use the InterAct, FileAct, and SWIFT WebAccess messaging services. Alliance Gateway manages connectivity between customer applications and the SWIFT secure IP network by means of host adapters. Customers can use Alliance Gateway to concentrate the flow of messages between SWIFTNet and remote financial applications over the Internet Protocol (IP), using the Remote API Host Adapter (RAHA), or through the MQ Host Adapter (MQHA). More information - Documentation

Alliance Gateway Kit

An Alliance Kit that SWIFT has designed for customers that opt for a private infrastructure and want to use a third-party connectivity product that requires the use of Alliance Gateway. More information - Documentation

Alliance Kit

A connectivity product that provides everything a new customer needs to go live on SWIFTNet, in one single package (that is, software, security hardware, documentation, network connectivity, and subscription to the FIN service). The Alliance Kits cater for the needs of different customers. The Alliance Kits support InterAct, FileAct, and SWIFT WebAccess, and enable customers to subscribe to most of the solutions without the need to deploy any additional software. The six Alliance Kits target customers that intend to send and receive up to 1,000 messages per day from a single SWIFT destination. More information See also Alliance Access Kit, Alliance Entry Kit, Alliance Gateway Kit, Alliance SWIFTNet Link Kit, Alliance Essentials Kit.

Alliance Lifeline

A service that offers emergency connectivity to SWIFT. Customers that already have a resilient method to connect to SWIFT can subscribe to Alliance Lifeline, and can then activate Alliance Lifeline if the customer's normal method to connect to SWIFT is not available, for example, in a case of a disaster or in a case where the infrastructure has been compromised. Alliance Lifeline does not replicate the main infrastructure, it focuses on the main business flows. Alliance Lifeline proposes two operational models: Alliance Lifeline Standby or Alliance Lifeline Premium. Alliance Lifeline uses the Alliance Lite2 service to connect to SWIFT. More information - Documentation

Alliance Lifeline Premium

For Alliance Lifeline Premium customers, the Alliance Lite2 service is configured to enable customers to send messages or files at any time, without having to wait for activation. The reception of messages or files is disabled, therefore the customer must request activation to receive messages or files. More information - Documentation

Alliance Lifeline Standby

For Alliance Lifeline Standby customers, the Alliance Lite2 service is configured ready to be activated by SWIFT upon the customer's request. Alliance Lifeline Standby customers can neither send or receive unless they request activation. More information - Documentation

Alliance Lite2

A secure and reliable, cloud-based way to connect to the SWIFT network. Alliance Lite2 enables SWIFT customers to send and to receive all types of SWIFT messages and files (either manual or automated) with a very light footprint. Alliance Lite2 also enables the use of all secure WebAccess (formerly, Browse) services offered over SWIFTNet upon separate subscription to these services. Alliance Lite2 customers can subscribe to the Peace of Mind support service (payable). The Peace of Mind Pack includes handholding support and entitlement to additional standard and specific configuration changes. Relationship Management (RMA) can be included as an additional, payable option. More information - Documentation

Alliance Managed Operations

A subscription-based managed service whereby SWIFT operates and manages, on behalf of the customer, the Alliance Interfaces and SWIFT devices located at the customer's premises. The Alliance Managed Operations service is designed to keep these applications and devices in an operational and functioning state. The delivery of the Alliance Managed Operations service is governed by a Service Level Agreement (SLA) between the customer and SWIFT. More information - Documentation

Alliance Messaging Hub (AMH)

A single integration platform for global financial institutions looking to rationalize their messaging infrastructure across networks and, at the same time, introduce new products and services to the market in a faster and more cost-effective way. Tailored to an individual customer's needs and integrated with a company's existing infrastructure, AMH provides a scalable investment, from low- barrier entry projects to high-volume messaging needs. More information - Documentation

Alliance plug-in

A business application that operates with the Alliance portfolio of products. SWIFT partners market and sell the Alliance plug-ins.

Alliance Remote Gateway (ARG)

A secure and reliable cloud service operated by SWIFT. Alliance Remote Gateway enables customers to connect Alliance Access/Entry directly to the SWIFT network without the need for the customer to manage its own Alliance Gateway, SWIFTNet Link, and Hardware Security Modules (HSMs). Alliance Remote Gateway supports the use of all SWIFTNet messages and files as supported by Alliance Access/Entry (FIN/MT, InterAct/MX, FileAct), and supports the use of all secure SWIFT WebAccess services offered over SWIFTNet. More information - Documentation

Alliance RMA

A connectivity product that provides Relationship Management Application functionality. It is mainly targeted at non-Alliance customers. However, it can also be connected to an existing Alliance Gateway. Documentation

Alliance security officer

A predefined operator on an Alliance interface. Any Alliance interface has two Alliance security officers: the left security officer, and the right security officer. The security officer exercises dual control over the configuration and the management of the security functions within Alliance. The Alliance security officer has no operational role whatsoever outside the Alliance environment. Documentation See also left security officer and right security officer.

Alliance SWIFTNet Link Kit

An Alliance Kit that SWIFT has designed for customers that operate their own infrastructure and want to use a third-party connectivity product that requires the use of SWIFTNet Link. More information - Documentation

Alliance Web Platform Server-Embedded (Alliance Web Platform SE)

The graphical user interface software for all Alliance products, Alliance Web Platform Server- Embedded gives users browser-based access to the functionalities of Alliance Gateway, Alliance Access and Alliance Entry. More information - Documentation

Audit and Finance Committee (AFC)

The SWIFT governance and oversight body for systems security, internal control, and financial policy. The full SWIFT Board approves the Audit and Finance Committee's charter of activities. More information

AutoClient

A locally installed optional part of Alliance Lite2 that is used to integrate software applications with Alliance Lite2. Through AutoClient, back-office applications can send and receive messages and files over SWIFTNet in a fully automated way and with strong security. AutoClient provides file- based communication to and from FIN, FileAct, and InterAct services. You can send and receive files containing Standards MT and MX messages and FileAct files. More information - Documentation

b

backbone access point (BAP)

A physical site that SWIFT manages and controls, from which the partner networks connect to the SWIFT secure IP network.

bank payment obligation (BPO)

An irrevocable obligation of an Obligor Bank to pay a specified amount to a Recipient Bank in accordance with an established Trade Services Utility baseline of a single Trade Services Utility transaction. A bank payment obligation is intended to constitute a legally binding, valid, and enforceable obligation of the Obligor Bank to the Recipient Bank under the appropriate standard of law, enforceable in accordance with its terms. The Uniform Rules for Bank Payment Obligations (URBPO) of the Internal Chamber of Commerce (ICC) govern bank payment obligations.

basic header

The only mandatory part of a FIN message header (that is, block 1). The basic header provides general information about the message. For input message, this information includes identification of the application through which SWIFT processes the message. The information also includes the type of input data, the sending logical terminal, and (if required) the input session number and input sequence number. For output message, the basic header identifies the application through which SWIFT has processed the message. The basic header also identifies the type of output data, the receiving logical terminal, and (if required) the output session number and output sequence number.

blacklist

A list that contains references to security tokens that SWIFT suspects of being compromised in some way, and which are therefore no longer valid.

block identifier

A single, numeric character between 1 and 5 that identifies the blocks (for example, basic header block and text block) in a FIN message.

branch code

See branch identifier.

branch identifier

An optional 3-character code that is part of the BIC. The branch identifier is used to identify a specific branch or department of an organisation. The 3-character code forms part of the 11 character BIC. More information

broadcast

During message preparation, a user can address a single MT 999 to an alias for a group of correspondents. Once the message is authorised, Alliance automatically sends a copy of the message to each of the correspondents. This is known as a broadcast. This is not the same as a SWIFT broadcast.

business officer

A customer contact who represents the FINCopy or SWIFTNet Copy Central Institution towards SWIFT. Business officers can request emergency FINCopy or SWIFTNet mode changes, and emergency withdrawals of FINCopy or SWIFTNet participants. See also Secure Channel.

business party identifier

The first element of the BIC, used to identify a business party in a country. The business party identifier consists of 8 contiguous characters. It is composed of the party prefix, the country code, and the party suffix. The business party identifier is assigned by the registration authority. More information

bypass mode

An emergency fallback mode, in which the service administrator does not receive copied information, and no longer has authorisation and rejection capability. The copy service delivers messages sent in bypass mode to the receiver with an indication that the service is operating in bypass mode. This informs the receiver that the message has not been copied and that there has therefore been no authorisation from the service administrator.

B

Bank Directory for SAP

The SWIFTRef directory part of Corporate Packs 2 and 3. This file has been developed in partnership with SAPTM and enables corporates to integrate their bank reference data in their Enterprise Resource Planning (ERP) system. Documentation

Bank Directory Plus

A SWIFTRef directory containing all the reference data banks and corporates require to prepare, validate, and process payments to any bank, anywhere. More information - Documentation

Bankers World Online

The SWIFTRef online service that gives access to all worldwide payments reference data available in the SWIFTRef utility. Bankers World Online enables international banks, domestic banks making international payments, and larger corporates to interrogate the complete SWIFTRef database through a powerful web-based search capability. More information - Documentation

BIC

BIC stands for business identifier code. BIC is an international standard for identification of institutions within the financial services industry. BICs are used in automated processing. They unambiguously identify a financial institution or a non-financial institution. The ISO 9362 standard specifies the elements and the structure of a BIC. A BIC consists of either eight or eleven contiguous characters. These characters comprise either the first three, or all four, of the following components: party prefix, country code, party suffix, and branch identifier. The International Organization for Standardization has designated SWIFT as the BIC registration authority. More information

BIC Archive

A SWIFTRef directory that helps financial institutions in the MiFID reporting by providing them with an instant and complete view of all historic changes related to a BIC since 1st November 2007. More information - Documentation

BIC Directory

The SWIFT Directory, part of SWIFTRef, that lists the BIC that SWIFT has registered according to the ISO 9362 standard, and the names and addresses of the corresponding entities. It also contains additional information (for example, the market infrastructure in which the entities participate). The BIC Directory is available in different formats (online, as a downloadable file in txt and xml, and through web services). As of November 2018, the BIC Directory will no longer be available. Current BIC Directory customers must migrate to BIC Plus or the BIC Directory 2018 by that date. New customers must order BIC Plus. More information - Documentation See also Paper BIC Directory.

BIC Directory 2018

A modified version of the BIC Directory related to the new ISO 9632:2014 standard. This directory contains the connectivity status in FI Record under the EXTRA INFO field with the following connectivity categories: connected to FIN or not connected to FIN. Documentation

BIC Directory Download

The product that enables financial institutions and corporates to integrate BIC data into their environment. The BIC Directory Download lists important information (for example, BIC and physical address details).

BIC Plus

A SWIFTRef directory that financial institutions use for regulatory reporting, payment initiation and validation, correspondent banking and internal reporting. BIC Plus contains new information related to the new ISO 9632:2014 standard and includes the registered BICs (BICs active on FIN and/or SWIFTNet as well as nonconnected BICs) and the names and addresses of the corresponding entities. It also includes additional information such as market infrastructures in which the entity participates (FIN service codes), and publication and expiry dates of BICs Documentation

BIC1

See non-connected BIC.

BIC11

See 11-character BIC. More information

BIC8

BIC stands for business identifier code. BIC is an international standard for identification of institutions within the financial services industry.

BICs are used in automated processing. They unambiguously identify a financial institution or a non-financial institution. The ISO 9362 standard specifies the elements and the structure of a BIC. A BIC consists of either eight or eleven contiguous characters. These characters comprise either the first three, or all four, of the following components: party prefix, country code, party suffix, and branch identifier. The International Organization for Standardization has designated SWIFT as the BIC registration authority.

BIC1

See non-connected BIC.

BIC8

See 8-character BIC.

BIC11

See 11-character BIC.

BIC8

See 8-character BIC.

BICtoLEI File

The file that enables an institution to cross reference a BIC reference data with the public legal entity identifier database and to maintain the link between the two identifiers at low cost and effort.

Browse certificate

A certificate that is used to encrypt data exchanged over an HTTPS (secure internet) session between the browser and the web server.

Bulk Payments

The solution that supports the exchange of multiple low-value payments in the bank-to-bank and bank-to-automated clearing house spaces. The solution uses FileAct as the primary messaging service, complemented by InterAct for single urgent payments. The solution also comprises a rulebook (which harmonises the way FileAct is used) and a pricing per payment. Documentation

Business Administrator Workstation (BAWS)

The software that the business administrator uses to interact with the EURO1/STEP1 clearing service, and to monitor banks' positions, limits, and on-hold payments. SWIFT provides the Business Administrator Workstation, which operates locally on a customer PC.

Business Application Header (BAH)

A portion of the payload of an MX that contains preliminary information for the business application (for example, business sender, business receiver, message identification, creation date, business service, and signature).

Business Assessment Programme

The consultancy service that SWIFT offers to its key customers. In support of those customers' key business drivers, the programme facilitates the rationalisation of their existing infrastructure and communication channels. The programme also helps them to improve their operational efficiency (Straight-Through Processing), their messaging capabilities, and the quality of service that they provide to their end customers. Furthermore, the programme provides a message and operational efficiency benchmarking. This programme was formerly called CIO-COO Reach.

Business Continuity Planning (BCP)

A management process that provides the strategic and operational framework to review and, where appropriate, to (re-)design the way an organisation provides its products and services whilst increasing its resilience to disruption, interruption, or loss. This process also provides capability for an effective response which safeguards the interests of SWIFT's staff, stakeholders, reputation, and value-creating activities.

c

case

The name for all logged interactions. They include interactions between SWIFT and a customer (that relate, for example, to a single problem) and interactions between SWIFT staff (for example, in the event of system problems or events that require a follow up). A case includes all exchanges of information that are necessary for SWIFT to investigate and resolve a problem, or to respond to a query.

case manager

The online function that enables Support-registered customers to report a technical problem or query to the SWIFT Customer Support Centre. For each new entry, support staff assign a case number. Based on the evolution of the investigations, support staff provide electronic updates. SWIFT maintains a complete overview of all cases with their current status information. This information is available to customers. Case manager

central institution

An organisation that performs a clearing, netting, or settlement function for a financial community, within a FINCopy service. A central institution is typically, but not necessarily, a national or central bank. For FINCopy solutions, the central institution is often also the service administrator.

central institution destination (CID)

In the context of FINCopy, a synonym of service administrator destination.

central message validation

The process by which SWIFT verifies that the contents of a message conform to the applicable message standards. The message standards are specified in the corresponding SWIFT documentation. Central message validation is available in FIN and InterAct. In FIN, central message validation always applies. In InterAct, the service administrator can choose to apply central message validation. SWIFT does not deliver a message to the intended recipient if the message fails central message validation.

certificate

A unit of information contained in a file. At a minimum, a certificate lists the issuer of the certificate and a public key, and indicates the user that holds the corresponding private key. The certificate is digitally signed by the SWIFTNet Certification Authority. See also digital signature.

certificate administration facility

The online service that security officer use to create operational entity names and to manage their certificates. The facility includes the Local Registration Application.

certificate disablement

The permanent termination of the validity of a certificate. Disablement prevents the further use of the certificate in SWIFTNet.

certificate DN

The Distinguished Name of the owner of a SWIFTNet Public Key Infrastructure certificate.

certificate expiry date (CV Expiry date)

The date on which a certificate expires.

certificate policy (CP)

A set of policy requirements that describe how SWIFT creates and uses categories of digital certificates for SWIFTNet Public Key Infrastructure.

certificate recovery

The process that generates new keys and certificates, and restores old, private decryption keys.

certificate repository

A publicly accessible database that holds information such as certificate and Certificate Revocation List.

certificate revocation (CV revocation)

The act of revoking an otherwise valid certificate (for example, after the certificate has been compromised).

certification

The process by which the SWIFTNet Certification Authority generates key pairs and signs public keys.

client process

The operating system process that generates requests against SWIFTNet. This process implements client-application code. See also server process.

The common name element in a Distinguished Name. The cn identifies operational entities (for example, applications, systems, and operators).

command centre (CC)

The location from which SWIFT co-ordinates all activities during a crisis or specific incidents.

communication software

Software that provides a link between the SWIFTNet network and the application software, such as Alliance Access or Alliance Entry. Communication software includes SWIFTNet Link and Alliance Gateway.

confirmation

A FIN message that confirms the main facts of a deal. The information includes the date on which the counterparties agreed to the deal, the settlement instructions, and the amounts involved.

connectivity pack

A standard configuration for SWIFTNet access. A connectivity pack is a combination of an access line (local loop), router, VPN boxes cluster, SWIFTNet Link, and Hardware Security Modules (HSMs). The connectivity pack is defined through three main areas of functionality: network connectivity, resilience, and throughput. Connectivity Packs - Configurations for Multi-Vendor Secure IP Network Connectivity

copy fallback service mode

The mode in which the customer operates the copy service if the central institution and SWIFT agree that the copy service cannot operate in normal service mode. Typically, the customer uses this mode in a disaster or emergency situation See also bypass mode.

copy service mode

Users can operate the copy service in either Y-Copy mode or T-Copy mode.

copy service state

The operational state for an active copy service. The state can be open or closed. SWIFT may close a copy service for maintenance purposes, or because of an emergency situation.

country code

The element of the BIC that is used to identify the country where the business party is located. It is composed of two alphabetic characters. The ISO 3166-1 standard specifies the country code. More information See also business party identifier.

cross-border back-up connection

A connection to the SWIFT network through an access point in a country other than that of the organisation that requires it. It can also be a connection through a messaging interface located in a foreign branch of that organisation. Organisations maintain cross-border back-up connections for emergency purposes only.

cumulative patch

A patch that contains all previous patches of a service or a product that relate to a specific SWIFTNet and Alliance release. More information

cumulative release

A release that contains all previous releases of a service or product that relate to a specific release. All SWIFTNet and Alliance major and minor releases are cumulative. More information

customer

See SWIFT customer.

customer parent destination (CPD)

The primary BIC of a customer designated as SWIFT head of traffic of a group.

cut-off date

The date by which Customer Operations must receive SWIFT database update requests, network modification requests, and SWIFT interface contracts, to enable the customer to go live on a particular date.

cut-off time

The time until which the receiver of a message applies same-day value. Either the financial market practices at the receiver's location, or a bilateral agreement between sender and receiver, determine the cut-off time. In the absence of such an agreement, the cut-off time is the cut-off time for the receiver's location, as published in the BIC Directory.

cutover

The point during the implementation process at which SWIFT connects a customer to the FIN or a SWIFTNet service (for example, FileAct or SWIFT WebAccess) for live traffic.

C

Central Securities Depository (CSD)

An organisation that holds securities and arranges for the receipt and delivery of these securities. The CSD also arranges for payments during settlement. The main function of a CSD is to immobilise or dematerialise securities. CSDs may also have the capability for trade clearance, safe custody and settlement, and post-settlement processing of securities information. See also International Central Securities Depository.

Certificate Revocation List (CRL)

The list of all revoked certificate that the SWIFTNet Certification Authority publishes in a central directory and makes available online to all SWIFTNet Public Key Infrastructure clients.

Certification Practice Statement (CPS)

The statement of certification practices that SWIFT has implemented in the SWIFTNet Certification Authority, the SWIFTNet Registration Authority, and the SWIFTNet Directory.

Certification Register

In the scope of the SWIFT Certified Interface programme, a record of all certified products. The Customer Readiness team maintains this register on its website. The Certification Register contains the name of the supplier, the name of the certified product, and the Interface Conformance Statement of the product. Documentation

Checksum trailer (CHK trailer)

A trailer that appears on all General Purpose Application and FIN messages. The Checksum trailer enables the recipient to verify that the message has not been corrupted during transmission.

CHIPS Universal Identifier (CHIPS UID)

A 6-digit code that the Clearing House Interbank Payments System (CHIPS) uses as a clearing code. It is a real-time payment clearing system for U.S. dollar payments in the United States.

Clearing and Settlement Mechanism

A mechanism that enables participating scheme participants or their branches to clear and to settle payments made between them. It includes five categories of participants: the Pan-European Automated Clearing House (PE-ACH), the Single Euro Payments Area-compliant Automated Clearing House (ACH), other decentralised form of structured bilateral or multilateral clearing and settlement (or both), intra-bank or intra-group clearing and settlement arrangement (or both), and purely bilateral non-structured SEPA Scheme compliant clearing and settlement.

Closed User Group (CUG)

A subset of customer that have been grouped to use certain SWIFT services and products in a defined context (typically, the participation of customers in a market infrastructure, a Member- Administered-Closed User Group, or a solution). Either SWIFT or a service administrator defines the eligibility criteria and participation in the Closed User Group.

CLS Third Party

A financial institution that is not a CLS member, and that uses the services of a CLS Settlement Member, referred to as Third-Party Provider, to settle transactions inside CLS.

CLSNet over SWIFT

A standardized, automated bilateral payment netting service for FX trades that are settling outside the CLS settlement service.

Collateral Management

The solution that enables financial institutions involved in the bilateral collateral/tri-party management business to communicate with their counterparts and clients in a standardised and automated manner. The solution is based on best practice guidelines proposed by industry bodies, such as the International Swaps and Derivatives Association (ISDA). More information - Documentation

Command Centre Manager (CC Manager)

The SWIFT employee who co-ordinates and facilitates all recovery activities during an incident or crisis.

Common Vulnerability Scoring System (CVSS)

The Common Vulnerability Scoring System (CVSS) is a free and open industry standard for assessing the severity of computer system security vulnerabilities. CVSS attempts to assign severity scores to vulnerabilities, allowing responders to prioritize responses and resources according to threat. Scores are calculated based on a formula that depends on several metrics that approximate ease of exploit and the impact of exploit. Scores range from 0 to 10, with 10 being the most severe. More information

Compliance Analytics

The SWIFT service that helps institutions monitor and address financial crime risk by leveraging SWIFT traffic data. Compliance Analytics helps users identify possible anomalies in behaviour, unusual patterns or trends, hidden relationships, or consistently high levels of activity with high-risk countries and entities. This is achieved by comparing an institution's global SWIFT message traffic with the overall activity on the SWIFT network, or with a set of peers. More information - Documentation

Confirmation Copy service

A SWIFT administered service using FINInform T-Copy infrastructure with its own service description and commercials. The service is used to copy Category 3 and 6 MT messages to third- party central matching platforms. Documentation

Connector for Sanctions

A business package that facilitates the integration of customers' business applications with the Sanctions Screening service. The Connector for Sanctions enables a customer to send messages to the Sanctions Screening service hosted at SWIFT. The Connector for Sanctions is designed to screen any message types and any message formats, using either of the following configurations: the Connector for Sanctions based on Alliance Access Integration Platform (IPLA), and integrated within the messaging flows processed on Alliance Access, or the Connector for Sanctions based on SWIFT Integration Layer (SIL) running independently from a SWIFT messaging interface. Optionally, customers can integrate the messaging flows processed with Alliance Lite2 AutoClient for the messages sent over the SWIFT network. More information - Connector for Sanctions Service Description

Connector for SWIFT gpi

A SWIFT product from the interface portfolio that enables developers to easily integrate the Tracker API within their business applications in a standard, re-usable way, reducing overall Web Service complexity.

Corporate Actions

A messaging solution based on ISO 15022 standards and using FIN. The Corporate Actions solution consists of five message types (that is, the notification, the election, the status, the confirmation, and the narrative messages). This set of messages is used in the communication between an account servicer and an account owner for income distribution and corporate actions. An InterAct, store-and-forward solution based on a set of 13 ISO 20022 messages for Corporate Actions has been developed. These messages are interoperable with the ISO 15022 messages. More information - Documentation

Corporate Packs

SWIFTRef products for Corporates. The Corporate Packs are a bundle of other SWIFTRef products and Directories. Pack 1 contains Bankers World Online access and a monthly download of IBAN Plus. Pack 2 contains Bankers World Online access, a monthly download of IBAN Plus and Bank Directory Plus, and the SAP-compatible Bank Directory for SAP . Pack 3 combines the look-up capability of Bankers World Online with a daily xml datafeed or monthly file update of the full Payments Plus directory. The SAP-compatible Bank Directory for SAP is also part of this package. More information

Corporate Rules

The Corporate Rules specify the different SWIFT user categories as approved by the General Meeting of shareholders, and the SWIFT user admission and termination processes. It also describes inter alia the role of the National Member and National User Group established in each country where SWIFT users are present, the SWIFT organisation, the General Meeting of shareholders, and the Board of Directors. SWIFT Corporate Rules

Correspondent Banking Suite

The Correspondent Banking Suite combines SWIFT Cloud-based interface, managed and operated by SWIFT, Alliance Lite2 with SWIFT s products and services for correspondent banking from Financial Crime Compliance, Reference Data and Business Intelligence portfolio. It provides banks with the capabilities to issue payments to/from correspondents that they know, to strengthen their defences against cyber threats and financial crimes as well as access to correspondent banking traffic and payments reference data.

Correspondent Monitoring

Correspondent Monitoring is an online optional add-on to Compliance Analytics that enables the ongoing monitoring of correspondent banking relationships. Correspondent Monitoring uses reporting and notifications to provide automated transaction monitoring of specific, unusual or high- risk activity patterns for review as part of business-as-usual AML processes. More information - Documentation

Country, Currency, and Holiday Directory (CCH)

A SWIFTRef directory that provides the country ISO codes, the currency ISO codes, and the holidays by country. The Countries, Currencies and Holidays Directory is essential to validate payments to ensure that they will not be delayed or rejected. It is updated on a monthly basis and included in the BIC Directory and the BICPlus IBAN directory. More information - Documentation

CREST over SWIFTNet

The service that provides Euroclear UK and Ireland customers with a single interface to a wide range of UK and European securities, services and counterparties. SWIFT has been accredited by Euroclear UK & Ireland as a Service Provider to carry data between its customers and the CREST system using the data communication facilities offered by the SWIFTNet network and leveraging SWIFT Alliance interfaces located at the customer site. More information - Documentation See also Central Securities Depository.

Crisis Executive

The person who co-ordinates the incident or crisis recovery with the Crisis Team. (S)he is the Head of the command centre team in crisis situations.

Crisis Team

The team consists of a core team of executives who gather to decide on a strategic way-forward to complement the recovery activities lead by the Crisis Executive and the command centre team. The team focuses on handling the political side of the problem, protecting SWIFT's reputation, containing the crisis impact beyond today, and defining the high-level media crisis communication strategy.

Customer Operations

The SWIFT department that fulfils customer orders end-to-end, administers customer data and contracts, and ensures secure customer access to SWIFTNet services. The Customer Operations department also collects and publishes official information (for example, BIC and directories) and is responsible for the system and the network's provisioning that enable customers to work with SWIFT. The department also takes care of the maintenance and support of the internal IT and applications, including the infrastructure security. Ordering page on www.swift.com

Customer Premises Equipment (CPE)

A router at the customer site that bridges the customer's private IP network and the SWIFT secure IP network.

Customer Security Management (CSM)

The SWIFT department that administers security for SWIFT user. Customer Security Management assists the SWIFT trusted third-party organisation (internal audit) with delivery investigations, claims, and authorisations for straight-through processing. It acts as the SWIFTNet Registration Authority for SWIFTNet security officers, and the administrator for SWIFTNet Public Key Infrastructure. The Customer Security Management also issues SWIFTNet Link Tuxedo passwords.

Customer Security Programme (CSP)

The programme that SWIFT has set up to help the SWIFT user community improve cybersecurity and to facilitate cybersecurity risk assessment by and amongst users directly. The Customer Security Programme includes initiatives such as those set out in the SWIFT Customer Security Controls Framework (CSCF), the SWIFT Customer Security Controls Policy (CSCP), or the SWIFT ISAC. More information - Documentation See also The KYC Registry.

Customer Shares Destination (CSD)

The primary BIC of a customer designated as SWIFT legal parent of other customers in the same group.

Customer Support Centre (CSC)

The first-level helpdesk facility for customer queries and problems. Support contact information

D

Daily Validation Reports

Daily Validation Reports are part of SWIFT's financial crime compliance portfolio and the Customer Security Programme. They help to mitigate the risk of lost records by providing daily activity and risk reporting of your previous day s SWIFT transactions. Reports are delivered via a completely separate, secure online channel, direct to your compliance/operations teams for monitoring. More information- Documentation

Data Distribution

A solution that enables SWIFT users and securities market data providers to exchange corporate action data (in ISO 15022 format) and other securities-related market data over SWIFTNet, using either FIN or FileAct. Documentation

Delayed Message trailer (DLM trailer)

A trailer that the FIN service adds to user-to-user messages that it has not been able to deliver after a certain time. This delivery time is 15 minutes for urgent-priority messages, and 100 minutes for normal-priority messages.

Direct Link for Alliance Lite2

The Direct Link option for Alliance Lite2 provides an alternative connectivity for automated flows. It supports the interactive connection between the back-office and Alliance 2, while it offers an ad-hoc integration and transformation capability.

Directories Download Automation

A facility that enables customers to automate the download of the monthly directory files (for example, the BIC Directory).

Directories over FileAct (DOFA)

An optional distribution service for users connected to SWIFTNet for an automated (push mode) reception of data files through FileAct. Documentation

d

delayed NAK

A negative acknowledgement that the FIN service sends to the sender of a command or request. A delayed negative acknowledgement indicates that, although the FIN service has positively acknowledged the original command or request, it cannot execute or fulfil it. An error code indicates the reason for the rejection. The FIN service returns a delayed negative acknowledgement as a response to all user commands for which normal responses do not contain provision for an error code.

delivery instructions

User-specified rules that define how FIN queues messages of a particular priority, category, or type at the Regional Processor in the delivery subsets for a destination.

delivery monitoring

The facility that enables the sender of a message or a file to request a non-delivery warning, a delivery notification, or both, for that message or file.

delivery notification

A system-generated message that confirms that the system has effectively delivered a message or file for which the user has requested the delivery monitoring feature. The notification provides the date and the time of delivery.

delivery queue

A sequence of output message or files stored while awaiting delivery to a particular destination.

delivery subset

A subset of the output messages for a destination that FIN stores in a specific delivery queue, according to the user's delivery instructions.

destination

The identity of a SWIFT user organisation at a specific location. The 8-character BIC identifies a destination.

digital signature

The mathematical result calculated using a publicly available algorithm and a private key on a unit of digital information. Anyone who has the unit of information and the corresponding public key can, through verification, accurately determine whether that mathematical result was created using that private key, and whether the unit of information has been altered since that mathematical result was calculated. See also verification.

direct loss

A non-recoverable loss of funds. This loss represents the principal amount of FIN authenticated messages or transfers, and any loss of interest that occurs as a result.

distribution router

An IP router within the secure IP network Point of Presence that connects the PoP to the secure IP network.

documentary collection

The instruction of the seller to the bank to collect the value of the documents from the purchaser. The bank may either hand over the documents against payment, or get a commitment to pay (generally, the acceptance of a draft). The bank makes sure that the payment is received but does not make any commitment to pay. The Uniform Rules for Collections (URC) of the International Chamber of Commerce (ICC) govern documentary collections.

documentary credit

A firm commitment by an issuing bank to pay a specified sum in a specified currency provided that the conditions included in the documentary credit meet a specified time frame. The documentary credit cannot be cancelled (or its terms amended) without the prior consent of the seller (beneficiary). The Uniform Customs and Practice (UCP) of the International Chamber of Commerce (ICC) govern documentary credits.

dormant mode

The mode for a copy service that SWIFT has defined, but that is not yet in live operation.

double authentication

An optional mechanism used in FINCopy, which enables the service administrator to verify the origin and integrity of copied data. Double authentication also enables the recipient of a user-to- user Y-Copy mode message to verify that the service administrator has authorised the message.

E

EBA CLEARING

A provider of pan-European payment infrastructure solutions. Founded in 1998, the Company is owned by 51 of the major banks operating in Europe and based on a country-neutral governance model. EBA CLEARING manages two Systemically Important Payment Systems, the large-value euro payment system EURO1 and STEP2, a pan-European payment infrastructure platform for mass payments in euro. EBA Clearing also manages RT1, a pan-European real-time payment infrastructure platform for euro transactions.

Entity Plus

A SWIFTRef directory that financial institutions use to do the following: look up the formal identifiers of legal entities using names and addresses look up an identifier from another identifier (cross-referencing) find the relationships between a legal entity and its domestic and foreign branches

EUCLID Connector (ECC)

SWIFT-developed connector that enables SWIFTNet access to the Euroclear Bank Service, EUCLID, through Alliance Gateway. Documentation

Euro Banking Association (EBA)

The Euro Banking Association plays a major role in the financial industry as a forum for discussing and driving pan-European payment initiatives. The Euro Banking Association is a country-neutral banking association. Also known as Association Bancaire pour l'Euro (ABE).

Euro-Related Information (ERI)

A computer-readable method by which financial institutions can indicate ERI in the free-text fields of messages. Financial institutions used ERI during the dual-currency transition period for the euro from 1999 to 2002. It is now also available for other dual-currency information and for future euro- transition periods.

EURO1

A euro payments-clearing and settlement service managed by EBA CLEARING. EURO1 uses the FIN service and FINCopy, InterAct, SWIFT WebAccess, FileAct, and central processing provided by SWIFT. The central processing authorises payment messages for delivery, only when the result of processing the payments is to keep both the sender's and the receiver's positions within limits. EBA CLEARING acts as business administrator and manages the settlement process.

EURO1/STEP1 Directory

The Directory that enables EURO1/STEP1 participants and sub-participants to list other banks for which they act as correspondents for payments sent through the EURO1/STEP1 system. The directory is updated on a monthly basis. It reflects the list of BICs that participate in EURO1, or STEP1, or both, and the banks entered by EURO1/STEP1 participants as reachable destinations. The directory is cross-referenced with the BIC Directory to reflect changes in BICs or membership in EURO1/STEP1. More information - Documentation

e

encrypt DN

The Distinguished Name of the entity for which the sender has encrypted an InterAct message. To encrypt the message, the sender uses the encrypt DN public key infrastructure certificate . To decrypt the message, the holder of the PKI certificate uses its private key.

end of service

The end of service date for a product or service is the date on which SWIFT terminates all related contractual undertakings, and stops all operational and support activities.

end of support

The end of support date for a specific release of a product or service is the date on which SWIFT no longer supports that specific release. More information

end user

An individual that accesses one or more services within a customer's organisation.

eStatements

eStatements enable financial institutions to securely transmit period end, legal bank statements over SWIFT eliminating the need for paper-based statements, printing, transportation and storage, therefore leading to cost savings and risk reduction.

F

Failure is Not an Option (FNAO)

A key element of delivering excellence capabilities at SWIFT. FNAO aims to foster a culture of continuous improvement and commitment to provide services that meet the highest levels of security, reliability, and resilience. It is about anticipating problems, going the extra mile to find a solution, and educating to prevent recurrence

File Transfer Adapter (FTA)

An Alliance Gateway option that automates the emission and reception of files over FileAct. File Transfer Adapter uses FileAct to automate incoming and outgoing file transfers. When a file becomes available locally on Alliance Gateway, the File Transfer Adapter handles the FileAct exchange automatically (including retransmission attempts and file signature verifications). The File Transfer Adapter also sends an acknowledgement for receipt. File Transfer Adapter will be phased out in 2018. It is supported till January 2020.

File Transfer Integrated (FTI)

Alliance Gateway enables third-party file transfer middleware to exchange files over SWIFTNet. To achieve this, the middleware can invoke the File Transfer Integrated commands and pass a set of parameters as arguments. The middleware manages all other elements of the file exchange (for example, it manages monitoring, error handling, retry mechanism, and address maintenance). File Transfer Integrated will be phased out in 2018. It is supported till January 2020.

FileAct

An automated messaging service that SWIFT has designed to enable customers to exchange files. FileAct supports both interactive and store-and-forward modes. It is particularly suited for the exchange of large volumes of data. More information

FIN

/messaging application/ The financial messaging application, which together with the General Purpose Application, makes up the FIN service. /messaging service/ The messaging service that enables the secure and reliable exchange of MT messages in store-and-forward mode. User-to-user, user-to-SWIFT, and SWIFT-to-user messages are sent and received within the FIN service (that is, within both the General Purpose Application and the FIN application). More information - Documentation

FIN address

A 12-character string that identifies the sender and the receiver in the header of a FIN message. The string consists of an 8-character BIC, a logical terminal code as the ninth character, and a 3- character branch code.

FIN bridge

The component within FIN that forms a bridge between the FIN service and the SWIFTNet access and transport infrastructure.

FIN vendor testbed

A network used to test applications or interfaces before deployment on the FIN production network. The FIN vendor testbed is reached through the integration testbed.

Financial Information Exchange (FIX)

A message standard that facilitates the electronic exchange of information that relates to securities transactions. See also FIX Protocol Ltd..

FINCopy

FINCopy enables the sender of a message to trigger a full or partial copy of a FIN message to a pre-defined third party (eight-character BIC) for further processing, including optional authorisation. FINCopy operates in T-Copy mode and Y-Copy mode. More information - Documentation

FINCopy service identifier

A unique 3-letter code in field 103 of a FIN message user header, which identifies a FINCopy service message. FINCopy also uses this field, for the same purpose, in undelivered message report and abort notification to the users.

FINInform

FINInform automatically generates a full or partial copy of a pre-defined set of FIN message types, and forwards the copy to a pre-defined third party (eight-character BIC or eleven-character BIC). The message copy can be sent to up to three destinations. There is no impact on the original message flow. FINInform operates in T-Copy mode. More information - Documentation

FINInform copy destination

An eight-character BIC or an eleven-character BIC that the FINInform service administrator has identified as the destination that receives copies of the FIN messages, based on the service parameters that the FINInform service administrator has defined. The copy destination may belong to the FINInform service administrator or another SWIFT user.

FINInform service identifier

A 3-letter code that identifies the FINInform service. The FINInform identifier code appears in the header of the received copy of a message.

FIX engine

A software application the primary function of which is to maintain Financial Information Exchange trading sessions between itself and one or more counterparties.

FIX Protocol Ltd. (FPL)

An international group of committees that owns and maintains Financial Information Exchange as a public domain specification.

Front-End Processor (FEP)

A processor at a SWIFT operating centre or a user site.

Funds

The solution that covers transactional and reporting flows related to global fund distribution. Funds comprises a set of ISO20022 (XML) standards, a rulebook, and InterAct (in store-and-forward mode, with central validation and non-repudiation). More information - Documentation

FX Performance Insights

A productised consultancy service using Watch that enables a firm to measure their FX business against those of their peers.

f

file transfer interface

The file transfer interface of Alliance Gateway embeds two optional components: the File Transfer Adapter and File Transfer Integrated. These components enable file transfer between correspondents over SWIFTNet. Customers use the Alliance Gateway Admin GUI to manage both components. The File Transfer Adapter and the File Transfer Integrated enable file transfer either in real time or through the store-and-forward delivery mode of FileAct.

file transfer local agent (FTLA)

A component of SWIFTNet Link that provides FileAct functionality.

financial institution

For SWIFT purposes (for example, for message validation), a financial institution is an organisation that is eligible as a SWIFT user, except Treasury Counterparty (TRCO), non-financial institutions in a Member-Administered Closed User Group, Corporates (CORP), and Securities Market Data Provider (SMDP) categories.

financial supply chain

An end-to-end sequence of financial processes that take place in a commercial transaction. The financial supply chain starts with the issuance of a purchase order and ends with the post- settlement reconciliation between the buyer's accounts payable system and the seller's accounts receivable system.

follow the sun

The expression that indicates that a service is implemented through two, three, or more service centres across the world, each covering a part of the service opening hours. Customer requests can be handed over from one centre to the next at the end of the local opening hours. For example, Support is available 24 hours a day. The three main Customer Support Centres (Asia Pacific [AP], Europe Middle East Africa [EMEA], and Americas [AM]) operate during their local working hours.

force majeure

Force majeure refers to certain events or circumstances resulting in a party being prevented from performing or being delayed in the performance of its obligations, as further specified in the SWIFT General Terms and Conditions.

full function mode (FFM)

A Test and Training mode in which users can exchange FIN messages with other training users (subject to a message routing restriction tables), with themselves, or with the system. See also local test mode.

G

General Distribution

The date when SWIFT makes available, to customers, a qualified version of SWIFTNet Link and the Alliance products for live operations and general distribution. More information

General Purpose Application (GPA)

The SWIFT application that establishes and controls the communication between a logical terminal and the FIN application. The General Purpose Application also controls the user's initiation and termination of FIN session.

Global Electronic Trade Confirmation

An ISO 15022 standard messaging solution backed by a set of market practices documented in an Implementation Guide to streamline securities allocation confirmation processing for buy and sell sides. More information

g

global cold start

The restoration of service from an empty or zeroed state for all messaging zones (that is, currently, both the Trans-Atlantic and the European zones). More information

global operating centre (global OPC)

The global operating centre acts as back-up for both regional operating centres.It stores and processes FIN messages from both messaging zones.

H

Handbook

See User Handbook.

Hardware Security Module (HSM)

A tamper-resistant hardware device within which the user generates and stores its SWIFTNet Public Key Infrastructure private keys. The HSM performs cryptographic operations such as signing the data that is sent over SWIFTNet. More information - Documentation

Hardware Security Module box (HSM box)

A hardware box that can store multiple SWIFTNet Public Key Infrastructure private key. SWIFTNet Link can access the HSM box over the local area network (LAN). See also Hardware Security Module.

Hardware Security Module card (HSM card)

An Integrated Circuit Card that the user inserts in a card reader and that can store one SWIFTNet Public Key Infrastructure private key. The user connects the card reader to a PC through a Universal Serial Bus (USB) port. See also Hardware Security Module.

Hardware Security Module token (HSM token)

In the context of SWIFTNet Link and Alliance Web Platform Server-Embedded, a token that the user inserts in the Universal Serial Bus (USB) port of a PC. An HSM token can store one SWIFTNet Public Key Infrastructure private key. See also Hardware Security Module.

Health Check

A thorough analysis of the customer's prime production SWIFT infrastructure. The goal of this analysis is to identify potential security, configuration, and performance risks that can result in degraded service for any of the installed SWIFT applications. The Health Check verifies that all SWIFT applications, and the respective operating systems and environments (including connectivity to SWIFT), are in accordance with the requirements and recommendations set by SWIFT. The Health Check comprises a collector script and a questionnaire that is sent to the customer. SWIFT reviews the information received from the customer and their systems, and after completing the health check, SWIFT issues a report that contains the results, including any recommendations for improvements. See also Premium Support and Premium Plus Support.

h

head office declaration

A document that the parent entity completes to provide information about the legal status of a sub- member (that is, a branch or subsidiary).

header

The portion of a message that contains control information (for example, the sender, the receiver, the message type, and the priority information).

high-value payments

Payments that, because of the amount involved, the urgency or the need for settlement finality, are of particular concern to the financial industry.

high-value payments

Payments that, because of the amount involved, the urgency or the need for settlement finality, are of particular concern to the financial industry.

hold queue

A queue that holds the message input reference of messages that are pending authorisation from the central institution of a FINCopy service that operates in Y-Copy mode.

host adapter (HA)

Bi-directional transport mechanisms that route incoming messages from applications to the Alliance Gateway/Alliance Access, and route outgoing messages from the Alliance Gateway/Alliance Access back to those applications identified as message partners. To facilitate message transport, the host adapter concentrates message traffic, and dispatches it between Alliance Gateway/ Alliance Access and the applications.

I

IBAN Plus

A SWIFTRef product that helps financial institutions and corporates to validate IBANs and to derive the BIC from the IBAN. IBAN Plus provides the solution for Regulation (EU) No 260/2012 of the European Parliament and of the Council (the IBAN only rule). More information - Documentation

Innotribe

Innotribe seeks to reinforce the importance of collaboration when it comes to innovation, supporting all actors of the FinTech sphere, including SWIFT, to move forward together. Innotribe is a SWIFT initiative. More information

Input Application Sequence Number (IASN)

IASN and Output Application Sequence Number refer to application sequence numbers (input and output) that a network interface uses to keep track of both messages sent to an application for processing, and output messages received from an application to be sent to the network.

Input Protocol Sequence Number (IPSN)

IPSN and Output Protocol Sequence Number refer to sequence numbers that a network interface uses to keep track of messages that pass between two applications.

Input Regional Processor

The primary logical node of the FIN service that establishes a session with the FIN sender, and validates all FIN messages that come from the sender. See also Regional Processor.

Integration Platform (IPLA)

A licence option for Alliance Access that extends Alliance Access with integration functionality. Installing Alliance Access installs the Integration Platform. More information - Documentation

InterAct

A messaging service that enables the interactive (real-time) and store-and-forward exchange of messages between parties. InterAct is particularly suited for mission-critical and time-critical applications. More information

Interactive Workstation (IWS)

A SWIFT WebAccess interface that bank members use to interact with the EURO1 and STEP1 clearing services. Bank members can use this service to monitor bank positions, limits, and on-hold payments.

International Central Securities Depository (ICSD)

An institution that clears and settles international securities transactions by book entry (that is, by the adjustment of participants' accounts). The stock is domiciled in the native countries' national Central Securities Depository.

International Drawdown (IDD)

International Drawdown is an alternative that SWIFT offers to customers that have difficulty in arranging their direct debit with a bank that is connected to the European and US Automated Clearing Houses (ACH). IDD uses the existing international-correspondent, banking-payment infrastructure to process payments automatically from a client-designated payment account. The IDD service is a global cash-management system offered by an international third-party provider.

International Organization for Standardization (ISO)

The organisation that develops international standards. The ISO is based in Geneva.

International Securities Identification Number (ISIN)

A code that uniquely identifies a specific issue of securities. Its structure is defined in ISO 6166. The ISIN is a 12-character alphanumerical code that does not contain information characterising financial instruments, but serves for uniform identification of a security.

International Swaps and Derivatives Association

(ISDA) The industry association for the world's leading participants in privately negotiated swaps and related derivatives transactions. Members include financial institutions, government entities, corporations, and service providers.

IPsec

Internet Protocol security. An industry standard technology that SWIFT uses to secure all IP-based communication flows between the customer premises and SWIFT.

ISAE 3000

The International Standard on Assurance Engagements (ISAE) 3000 is the internationally recognised industry standard that enables service providers (for example, SWIFT) to obtain independent assurance on their control objectives and processes. Together with the annual report, SWIFT publishes an ISAE 3000 report that provides information about the security and reliability controls that SWIFT implements.

ISO 15022

The standard that enables the securities industry to design message types on the basis of ISO 15022 syntax and message design rules, a dictionary of data fields, and a catalogue of messages. SWIFT is the ISO 15022 Registration Authority.

ISO 20022

The standard that describes the agreed methodology used by the financial industry to create consistent message standards. ISO 20022 uses a modelling methodology to capture financial business areas, business transactions, and associated message flows in a syntax-independent way. It also uses a central dictionary of business items used in financial communications.

ISO 20022 (Financial) repository

The repository that the ISO 20022 Registration Authority maintains. SWIFT is the ISO 20022 Registration Authority. The ISO 20022 (Financial) repository contains a data dictionary and a business process catalogue (that includes models and derived message definitions).

ISO Registration Authority

A competent body that ISO has appointed to ensure that an international standard developed by an ISO technical committee is maintained or implemented (or both) effectively. SWIFT is the ISO Registration Authority for ISO 9362 (BIC), ISO 10383 (MIC), ISO 13616 (IBAN), ISO 15022 (scheme for securities messages), and ISO 20022 (universal financial industry message scheme).

i

initial secrets dematerialisation

The secure infrastructure (internal SWIFT systems and processes) that enables convenient access to the initial secrets required for SWIFTNet Link installation and configuration at the customer's site. Upon successful entry of an authentication string, this infrastructure grants access to a Customer Security Management-created file over the secure IP network.

input message

Any message that a user sends to the FIN messaging service, or to another user, by means of the FIN messaging service.

input sequence number (ISN)

A sequential, 6-digit number that is assigned to each FIN input message.

input window

See window.

input/output identifier

A 1-letter code in the application header that indicates whether the FIN message is input (I) or output (O).

instant payments

The Euro Retail Payments Board (ERPB) has defined instant payments as electronic retail payment solutions available 24/7/365 and resulting in the immediate or close-to-immediate interbank clearing of the transaction and crediting of the payee s account with confirmation to the payer (within seconds of payment initiation). This is irrespective of the underlying payment instrument used (credit transfer, direct debit or payment card) and of the underlying arrangements for clearing (whether bilateral interbank clearing or clearing via infrastructures) and settlement (for example, with guarantees or in real time) that make this possible.

institution code

party prefix

institution DN

The Distinguished Name of the SWIFT user. The DN includes the BIC and no other details.

integration testbed

The SWIFTNet integration testbed is available to market infrastructures, service providers, and application vendors to test the integration of the software applications with SWIFTNet services. It is also available to application developers on a recurring basis to test their software applications and services against new releases of SWIFTNet services.

integrity

The mechanism that enables the originator of a message to provide the recipient with the means of verifying that the message has not been modified during transmission.

integrity protection

The mechanism that ensures that no unauthorised persons have modified a message or payload during storage or transmission.

interactive

The messaging model that indicates a conversational exchange of messages (for example, when a user enters a question or command and the correspondent responds immediately).

interactive customer consultation (ICC)

Interactive customer consultations are part of SWIFT's customer consultation programme, an ongoing dialogue with our global community of shareholders and users. They are online surveys that typically focus on future product releases and prioritise specific features. These surveys poll a broad sample of the SWIFT community. SWIFT communicates survey results through summary reports, which it may use afterwards in regional conferences and at Sibos.

interface applications

Business applications that SWIFT sells and markets, and that operate with the Alliance portfolio of products. More information

interoperability

The ability of computers, protocols, and message standards to communicate with other computers, protocols, and message standards. Interoperability is required for Straight-Through Processing.

K

Key Management Application (KMA)

The application that certifies (or recovers) an end user that has been registered and set up for certification (or recovered) using the Local Registration Application.

Knowledge base

The Knowledge Base is the SWIFT online database that enables SWIFT Support-registered customers to search for solutions and tips to known problems. The knowledge base also provides answers to frequently asked questions. Link to the Knowledge base on www.swift.com:

KYC Adverse Media

An optional service that can be ordered by customers of The KYC Registry. It gives customers of The KYC Registry access to the third party supplier database of News articles about financial institutions, and to Profile notes, official statements and announcements from regulators and authorities (for example, enforcement actions, investigations, fines). More information - Documentation

KYC Security Attestation Application (KYCSA)

The online portal designed for SWIFT users to submit their self-attestation data which confirms their organisation s level of compliance with SWIFT s customer security controls defined in the SWIFT Customer Security Controls Framework. The application helps to increase community transparency by enabling users to share their self-attestation data with their counterparties, and also to request data from others in order to apply risk-based decision-making concerning their business relationships. More information - Documentation

k

key pair

Two mathematically related cryptographic keys. One key is private and protected. The other key is public and available to correspondents within a certificate. See also private key and public key.

l

leased line (LL)

A standard connection line to SWIFTNet. Leased lines have bandwidths up to E1/T1. They offer a permanent connection between the customer premises and the Point of Presence of the SWIFT Network Partner.

left security officer (LSO)

A role that carries joint responsibility with the right security officer for the configuration and the management of the security functions within Alliance. Documentation

legal entity identifier (LEI)

ISO standard 17442 specifies the elements of an unambiguous scheme to identify the legal entities relevant to any financial transaction. More information

local test mode (LTM)

The Test and Training mode in which a user can simulate a message transmission to other users, or to the system. See also full function mode.

location code

party suffix

logical terminal (LT)

The logical entity through which users send and receive FIN messages.

logical terminal code

A single, alphanumeric character that identifies a specific logical terminal within a destination. The logical terminal code is the ninth character of a full FIN address.

The NAK that the FIN service returns in response to a failed Login command attempt. An error code indicates the reason for failure. Documentation (FIN System Messages)

The acknowledgement that FIN returns after a successful login attempt. Documentation (FIN System Messages)

Part of the FIN login, a sequential 4-digit number that is part of the Login command process and the login authentication.

logout

The process of terminating the logical connection between a logical terminal and the FIN service.

L

LEI File

A file which is included in the Entity Plus package and gathers data from the consolidated file issued by GLEIF (Global Legal Entity Identifier Foundation). Documentation

Loans

A solution that caters for electronic agent notification messaging for the loans market.

Local Authentication (LAU)

LAU security is mandated between the caller application at the back office side and the gpi connector. The LAU key is associated to the back-office application per service (and version) through the configuration of the API proxy. Based on this configuration, when an HTTP request is received from the back-office, the API Proxy will analyse the request to match the backoffice application from which the request comes from.

The LAU key associated with that back-office application will then be used to verify the signature of the request. The signature must cover the JSON request or response payloads, the API specific part of the URI and the http headers. The algorithm to compute LAU signature must use “HmacSHA256” and “UTF-8” encoding.

Local Command Team (LCT)

The team that leads emergency actions and recovery activities during a SWIFT site disruption in a specific location. The team is under the supervision of the Site Manager.

Local Language File

A file that includes national bank codes (also called bank sort codes) in their local language and format. Documentation

Local Registration Application (LRA)

The application that the security officer uses to register an organisation's users and manage an organisation's certificate.

Logical Terminal Control (LTC)

Part of the FIN General Purpose Application.

The process by which a logical terminal establishes a connection and opens a General Purpose Application session with FIN. The first login establishes the physical connection.

LT-directed queue (LTDIR queue)

A special delivery subset called LTDIRa that is assigned to each logical terminal. The a represents the logical terminal code of the receiving logical terminal. All system output messages are queued to LTDIRa. Exceptions are the MT 076 (Certification Error), MT 081 (Daily Check Report), MT 087 (Certification Response), MT 092 (SWIFT-to-User Message), MT 094 (Broadcast), and MT 096 (FIN Copy to Central Institution).

LT-ID

A unique 9-character identifier for any logical terminal. The LT-ID consists of the 8-character BIC for that destination and the logical terminal code. The LT-ID is also known as the BIC9.

m

main message flow (MMF)

The processing invoked by customers to send and receive messages and files to each other. The main message flow is performed by applications, messaging interfaces, communication interfaces (including SWIFTNet Link at the sender side), the central messaging infrastructure (that is, Front- End Processor, switches, the FIN bridge, and FIN), and the receiver's communication interface (including SWIFTNet Link, the messaging interface, and the applications).

managed customer-premises equipment (M-CPE)

The network equipment that is located at the customer's site, and managed by SWIFT and its SWIFT Network Partner. The managed customer-premises equipment consists of one or more VPN box and one or more network routers.

market infrastructure (MI)

A multilateral system among participating institutions, including the operator of the system, used for the purpose of clearing, settling or recording payments, securities, derivatives, or other financial transactions. This includes, for example, payment systems such as real-time gross settlement systems and automated clearing houses, central counterparties, central securities depositories, securities settlement systems and trade repositories. This market infrastructures pricing applies to these many-to-one configurations.

market practice

The geographical, functional, and sectorial agreement about how standards should be used in a specific business scenario, for a specific market, to guarantee efficient execution of a financial transaction.

master destination

A FIN destination for which synonym are defined. A master destination can have up to 99 synonyms. Each of these synonyms has a unique address.

master LT

A logical terminal of a FIN master destination. A master LT can retrieve messages that synonyms have sent or received. Unsolicited reports are delivered to the master LT.

message

A collection of data in a structured format that a user or an application sends or receives. A message consists of blocks of data that contain information about addressing, optional features, control information for processing and delivery, security information, and the actual payload or message text. Messages are typically used to exchange individual transactions or short reports.

message category

A series of message type that relate to a particular class of transaction, as indicated by the first digit of the message type number. Documentation

message delivery

The process of sending a FIN message from the Output Regional Processor to the address specified in the header of the message, and receiving a positive or negative acknowledgement from the receiving interface.

message input reference (MIR)

A unique reference number assigned to every FIN input message. This number consists of the message input date, the FIN address of the sender, the input session number, and the input sequence number.

message output reference (MOR)

A unique reference number assigned at each delivery attempt of a FIN message. This reference consists of the message output date, the address of the receiver, the output session number, and the output sequence number.

message partner

The representation, in an application interface, of an external application (for example, printers, or mainframe connections). The application interface sees a message partner as the recipient or sender of a message. It stores the characteristics of each message partner in its corresponding message partner profile.

message priority

A 1-letter code that the sender of a FIN message assigns to indicate the priority of that message for output or delivery queuing. Possible values are: S (System), U (Urgent), or N (Normal).

message reception registry (MRR)

The registry where SWIFT stores the central routing rules. Each receiver defines its own rules and provides them to SWIFT. SWIFT uses these routing rules to determine where to deliver traffic (that is, to which store-and-forward queue or to which SWIFTNet Link).

message routing restriction tables (MRR tables)

The tables that specify the FIN message types, or message categories, that users can exchange with other categories of users. Documentation (FIN Service Description)

message type

See MT.

message user reference (MUR)

A free-format field in the optional user header of FIN messages. It enables senders to add information of up to 16 characters.

messaging service

A service that is available on the SWIFT secure IP network and that enables financial institutions worldwide to securely and reliably exchange financial messages and files, and to browse securely through online portals. The messaging service suite includes the exchange of MT messages over FIN, the exchange of MXs messages over InterAct, the support for specific high-throughput Market Infrastructure solutions through MI Channel, and the secure access to online financial portals using SWIFT WebAccess.

multi-vendor secure IP network (MV-SIPN)

The SWIFT architecture based on a network model that uses state-of-the-art security (secure IP network). The multi-vendor secure IP network also improves resilience and capacity, while avoiding dependency on a single network supplier.

myConfig

The tool that enables SWIFT customers to view their configuration, licence information, and SWIFTNet service details. It also enables users to report planned maintenance on their systems. myConfig is free of charge. Link to myConfig on www.swift.com: myConfig.

mySWIFT

The one-stop portal that helps you manage your SWIFT products and services, keep track of your order and invoices, and access online support. mySWIFT is tailored to your profile and shows a dynamic view of the information linked to your personal account. Link to mySWIFT on www.swift.com: mySWIFT portal

M

Market Identifier Code (MIC)

An International Organization for Standardization (ISO 10383) code that identifies exchanges, trading platforms, and other regulated or non-regulated markets. SWIFT is the ISO 10383 Registration Authority. More information

Market Infrastructure Resiliency Service (MIRS)

A generic payment settlement system operated by SWIFT on behalf of a market infrastructure in the event that the market infrastructure's Real Time Gross Settlement (RTGS) system is completely unavailable. It is designed to supplement the operational resilience of the market infrastructure's RTGS service by serving as an additional backup site in addition to their existing primary and backup sites. This generic payment settlement system processes and settles payments on a transaction-by-transaction basis in real time. It settles gross payments between members starting from the balances held at the market infrastructure at the time of failure. More information - Documentation

Market-Infrastructure Closed User Group (MI-CUG)

A Closed User Group implemented in support of a service managed by a Market Infrastructure (MI).

Member-Administered Closed User Group (MA- CUG)

Member-Administered Closed User Group. A SWIFT-operated, member-managed service that uses messaging service. The Member-Administered Closed User Group is designed to enable users that participate in the Closed User Group to exchange SWIFT messages bilaterally with the service administrator, or with the administrator-related participant. More information - Documentation

Message Format Validation Rules (MFVR)

The document that provides complete information about the validation procedures that the SWIFT network applies to the text block (block 4) of FIN user-to-user messages. Documentation

Message Reference trailer (MRF trailer)

A trailer that the system adds to FINCopy MT 096 messages, to specify the message reference of the original user message.

Message User Group (MUG)

A group that FIN user must belong to if they want to receive a particular category of standard messages, or specific message type. Users that have not registered for a particular Message User Group cannot send or receive the messages specified for use in that Message User Group.

MI Channel

MI Channel (Market Infrastructure Channel) is a messaging channel that is designed to enable customers to access large market infrastructures in an efficient manner. It relies on the SWIFTNet store-and-forward platform, and optimises the exchange of large amounts of data between the market infrastructure and their participants, while offering a simplified mode of operation and facilitating integration. More information - Documentation

MQ Host Adapter (MQHA)

The MQ Host Adapter supports applications that communicate with Alliance Gateway through WebSphere MQ queues. To send and receive messages, these applications invoke the WebSphere MQ API. All such messages are consistent with both the WebSphere MQ and the Alliance Gateway syntax. Applications can communicate with the Alliance Gateway MQ Host Adapter over different queue managers. Alliance Gateway offers such platform independence for applications provided by the MQ Host Adapter.

A traditional message type for use on the SWIFT network.

MTs

The portfolio of traditional 'tag:value' message types for use on the SWIFT network. Documentation

An XML message definition for use on the SWIFT network. Most MX message definitions are created by SWIFT, using the ISO 20022 methodology.

MXs

The portfolio of XML message definitions for use on the SWIFT network. Documentation

MyStandards

A collaborative web application that is used to manage standards definitions and industry usage in a more efficient way. MyStandards enables users to reduce time, effort, and risk to manage and implement standards. The MyStandards service also includes the MyStandards Usage Guideline Editor, an offline application that makes it possible for users to define and maintain their own usage guidelines. MyStandards is hosted and managed by SWIFT and accessible by everyone across the global financial community. More information - Documentation

MyStandards Base Libraries

A coherent set of machine-readable standard definitions for standards implementers. More information - Documentation

MyStandards Readiness Portal

A Web application built on top of MyStandards that simplifies customer on-boarding and migration by providing customer-facing standards testing capabilities. It provides a tailor-made experience to customers, including an advanced message validation service and direct links to relevant documentation in MyStandards. Documentation

MyStandards Readiness Portal for T2S

A Web application that helps T2S-directly connected participants assess their readiness for T2S and simplify their acceptance and testing processes. Documentation

N

NAK

Negative acknowledgement. The term that is often used in communication protocols to acknowledge the rejection of a message input to a messaging service. An error code indicates the reason for the rejection. NAK stands for negative acknowledgement.

Name Screening

Name Screening is a SWIFT-hosted service that combines a web-based screening application, automatic list updates, and an alert management service. Name Screening offers real-time online screening of single names. Name Screening supports effective sanctions compliance by enabling customers to efficiently screen single names of their own customers, suppliers and employees against sanctions and PEP lists. More information - Documentation

National ID History File

The file that contains National ID (also known as bank sort codes) and CHIPS codes that are currently not published anymore.

National Member Group (NMG)

The National Member Group acts as the representative of the local community of shareholders towards SWIFT. The National Member Group is a forum for discussions and is consulted from time to time by SWIFT or the Board of Directors on specific topics, including on local practices and regulations that may have an impact on the SWIFT community. It has an advisory role on policy and strategic issues that are addressed at Board level and that could affect shareholders. More information

National User Group

The National User Group consists of SWIFT users within the same nation that organise themselves to discuss SWIFT matters of an operational nature. They develop a forum that facilitates collective planning and coordination of their operational activities such as an implementation schedule for the migration of SWIFT services and products, standards releases, local training and other matters of an operational and technical nature. More information - Documentation

Netscreen Redundancy Protocol (NSRP)

A proprietary protocol that selected Netscreen and Juniper devices support to provide high- availability services.

n

naming and addressing

Naming assigns an identity to an entity (for example, an institution, an individual, or an application) that sends or receives SWIFTNet messages. Addressing links the identity (the name) with a means of routing (the address). Documentation

naming tree

See PKI tree.

network boundary

The logical boundary within which only the secure IP network core and Point of Presence elements reside.

next hop

An intermediate connection in a string of connections that links two network devices. The next hop is the first device in the path from the VPN box to the SWIFTNet Link.

non-connected BIC

The BIC of an organisation that is not connected to the SWIFT network.

non-delivery warning

A system message that warns that the message or file for which delivery monitoring has been requested was not delivered within the period specified for that message or that file.

non-repudiation

non-shareholding member

An organisation that qualifies as a SWIFT shareholder but, to the extent permitted under SWIFT By-Laws and Corporate Rules, decides not to buy SWIFT shares.

non-supervised entity active in the financial industry

A legal entity that engages as main activity in financial services. It is not subject to supervision by a financial market regulator. The eligibility criteria are detailed in the SWIFT Corporate Rules.

non-SWIFT BIC

See non-connected BIC.

o

The character that is used to identify the organisation in the Distinguished Name.

obsolescence period

The period of time, expressed in units of 5 minutes, after which, if a FIN message remains not delivered, a Delayed Message trailer is generated and added to the message when it is delivered. If a non-delivery warning has been requested, it is also generated and sent at the expiry of the obsolescence period.

onboarding

The process to join SWIFT. More information

online customer services

The SWIFT service that provides customers with answers to technical questions and guidance to resolve problems in a quick and secure way. Online customer services consist of Support (knowledge base, documentation, download centre, dropbox, leased line usage report, case manager, myConfig, and operational status), secure channel, ordering and billing, and information services (BIC Portal, User Handbook Online, Watch). Access to these services is subject to registration by the customer.

open account

The payment method by which the seller ships goods and waits for payment. Open account represents the highest risk for the seller and the lowest risk for the buyer. It is the most common way for buyers and sellers to do business in international trade today (approximately 80 percent of the market).

operating centre (OPC)

The site from which SWIFT operates and controls its systems. SWIFT has several operating centres throughout the world.

The characters that are used to identify the organisational unit in the Distinguished Name.

output message

Any message that a FIN user receives from the FIN messaging service, or from another user by means of the FIN messaging service.

output sequence number (OSN)

A sequential 6-digit number that the FIN service assigns on each attempt to deliver a FIN output message.

output time

The local time for the intended recipient of a message when a FIN message is output.

output window

See window.

over-the-counter derivatives (OTC Derivatives)

Derivatives are instruments with a value that depends on the performance of an underlying security or asset. Over-the-counter derivatives are traded in some context other than on a formal exchange. This indicates that the ability to exercise the contract is dependent on the ability of the other party to meet the obligation.

O

Observer Insights for SWIFT gpi

The dashboard that gives access to historical information, trends, and level of compliance with selected business rules from the SWIFT gpi Customer Credit Transfer Rulebook based on aggregated gpi data, as well as to UETRs for targeted flows. More information - Documentation

Output Application Sequence Number (OASN)

The Input Application Sequence Number and the OASN are application sequence numbers that a network interface uses solely to track messages sent to an application for processing, and output messages received from an application to be sent to the network. As output messages are sent to a network interface, they are assigned an OASN by the transmitting application. The OASN is a running sequence that is unique to the application. During recovery, the network interface passes the OASN to the application as an indication of the last output message received by the network interface from the application. The important thing to note is that the IASN and OASN are two unique numbers; there is not a one-to-one correspondence of IASN to OASN. One input message can result in more than one output message.

Output Protocol Sequence Number (OPSN)

The Input Protocol Sequence Number and the OPSN refer to sequence numbers that a network interface uses to keep track of messages that pass between two applications. The transmitting network interface assigns the OPSN. It is important to note that the OPSN that is assigned by the transmitting application is validated at the receiving end, where it is called an IPSN. The OPSN consists of source and destination application, and node and sequence number.

Output Regional Processor

The primary logical node that establishes a session with the FIN receiver, and handles all output message queuing. See also Regional Processor and Input Regional Processor.

P

Paper BIC Directory

A printed version of the BIC Directory. The Paper BIC Directory lists the BICs that SWIFT has registered according to the ISO 9362 standard (listed by country and in alphabetical order) and participants to market infrastructures (classified by country and by market infrastructure). It also contains SWIFT operational country information (for example, payment instruction cut-off time). SWIFT issues the Paper BIC Directory on a quarterly basis. More information - Documentation

Partner Programme

See SWIFT Partner programme.

Payment Controls

A centralised SWIFT service that enables subscribing customers to screen their payment instructions safely, in-network, before delivery, to detect illicit or unusual message flows. Customers define their own monitoring policy, controlling parameters to enable timely detection and prevention of out-of-policy or uncharacteristic and therefore potentially high-risk transfer requests.

Payments Clearing

The provision of SWIFT messaging solutions for both high-value and low-value clearing and settlement systems worldwide. The solutions include secure messaging, connectivity, and common message standards.

Payments Data Quality

Payments Data Quality is an advanced reporting and data analytics service that enables you to evaluate the quality of originator and beneficiary information in your SWIFT payment messages. It enables you to assess payments data quality across your global operations and with your correspondents, monitor information required for compliance with FATF Recommendation 16, and investigate specific data quality issues. More information - Documentation

Payments Market Practice Group (PMPG)

The Payments Market Practice Group has the following objectives: to take stock of payments market practices across regions, to discuss, explain, and document market practice issues (including commercial impact), to recommend market practices (covering end-to-end transactions), to propose best practice, business responsibilities and rules, message flows, consistent implementation of ISO messaging standards and exception definitions, to ensure publication of recommended practices, and to recommend payments market practices in response to changing compliance requirements. More information

Payments Plus

A SWIFTRef product containing the entire set of SWIFTRef directories. Payments Plus provides all the external reference data required for global payments operations, and this in a single relational database, for easy integration with customers' key systems. Payments Plus helps financial institutions and large corporates to easily validate payment instructions and select the appropriate payments routing. More information

PIN Entry Device (PED)

A handheld device that comprises a numeric keypad and an LCD screen. It is required to authenticate certain administrative commands on the Hardware Security Module box. To do so, customers insert a PED key in the PED and type the associated PIN code on the PED keypad.

PKI client

The software that a customer requires to access the Public Key Infrastructure services and that is embedded in SWIFTNet Link. The PKI client performs the signing, signature verification, encryption, and decryption functions. The PKI client also manages the unique private key of the customer and its certificates.

PKI cryptographic module

The software that is embedded in the customer's SWIFTNet Link. The PKI cryptographic module secures messages and manages certificate. The PKI cryptographic module performs the signing, signature verification, encryption, and decryption functions, and manages the unique private key of the customer and its certificates.

PKI tree

The X.500-based data structure that enables the user to record information about any end points. PKI-tree information can include names, certificate, and addresses. SWIFTNet Link uses the PKI tree to retrieve correspondent certificates and Certificate Revocation List.

Point of Presence (PoP)

The access point that connects user with the SWIFT Network Partner's network.

Policy Management Authority (PMA)

The body that determines certification parameters and controls the quality of certification practices. In the context of the SWIFTNet Certification Authority, SWIFT fulfils the role of the Policy Management Authority.

Possible Duplicate Emission trailer (PDE trailer)

A trailer that the sender adds to a FIN message. The PDE trailer warns the receiver that the same message may already have been input to the FIN service. See also reconciliation of traffic.

Possible Duplicate Message trailer (PDM trailer)

A trailer that the FIN system adds to a FIN message. The PDM trailer warns the receiver that the same message may already have been output by the FIN service. See also reconciliation of traffic.

Premium Custom Support

The highest level of support that SWIFT provides. The Premium Custom Support package includes all the features included in the other Support levels, and additional features that the customer may require. SWIFT works directly with the customer to provide a programme that meets specific Support requirements. More information - Documentation

Premium Plus Support

SWIFT has designed Premium Plus for high-volume and highly resilient infrastuctures that require high availability and reliability. It provides high levels of proactive support and personalised incident and crisis management. More information - Documentation

Premium Support

SWIFT's first level of additional, optional support. SWIFT has designed Premium for medium-size customers that operate business-critical infrastructures and must recover operations in the shortest possible time frames. More information - Documentation

Production

The environment on which SWIFT makes available, to customers, the messaging functionality on the network. The Production environment is used for the following services: pilot, Test and Training, and Live. More information

Proxy Voting

An InterAct store-and-forward solution that relies on eight ISO 20022 XML messages. These messages support announcements, entitlements, voting, confirmation of votes, and results for shareholders' meeting activity between the issuers and the beneficial owner, and through all intermediaries (such as custodians, exchanges, market infrastructures, and proxy agencies). Documentation

Public Key Infrastructure (PKI)

A security infrastructure, based on public key cryptography, that provides digital signatures and the supporting certification services.

p

partial copy service

A mode in which the SWIFTNet copying service only copies certain pre-defined fields of a message.

partner identifier code (PIC)

A code that identifies a SWIFT registered provider. The partner identifier code is equivalent to the BIC.

party prefix

The element that, together with the country code and the party suffix, identifies a business party within a country. The party prefix consists of four alphanumeric characters. The ISO 9362 standards defines the business party prefix as 4 alphanumeric characters. The registration authority has defined a more restrictive implementation of 4 alphabetic contiguous characters. More information See also business party identifier.

party suffix

The element that, together with the party prefix and the country code, identifies a business party within a country. The party suffix consists of two alphanumeric characters. More information See also business party identifier.

payload

The part of an InterAct request or response that contains the business content of the request or response.

payment in advance

The payment method by which the buyer pays the seller before the shipment of the goods. This represents the lowest risk for the seller and the highest risk for the buyer. Payment in advance is rare.

point of service (POS)

In the area of remittances, a physical or a virtual location where a financial institution offers remittance services to its customers. Physical locations are locations where cash can be handled and the physical presence of the customer is required (for instance: bank branch tellers, automated teller machine, retail cashiers). Virtual locations are locations where the remittance is processed through a remote channel and the physical presence of the customer is not required (for example, e-mail ordering, phone banking, internet banking, mobile banking).

prime Regional Processor (prime RP)

The Regional Processor with which a FIN user is normally associated, and to which all normal Login command are made. All output message are typically directed to the receiver's assigned prime regional processor. See also Input Regional Processor and Output Regional Processor.

private infrastructure

A direction to SWIFTNet, that is, where the SWIFTNet connectivity infrastructure is owned and operated by the customer.

private key

The key of an asymmetric key pair that the owner keeps secret. The private key is mathematically related to a unique public key. Within a Public Key Infrastructure, the owner uses the private key either for signing or for decryption.

processing rules

The rules or conventions that describe, in an unambiguous way, how to process data.

provisioning

A set of activities that ensure that SWIFT updates the SWIFT target systems according to customer requests. Provisioning activities include data entry of the requests in SWIFT's databases, validation of this data, and extraction and generation of provisioning commands to execute on the different SWIFT target systems (for example, the multi-vendor secure IP network and FIN's General Purpose Application).

pseudo logical terminal (PLT)

A logical entity within the FIN system that receives system message from users and makes the appropriate responses. Examples of such pseudo logical terminals are those entities that process message retrieval requests and generate the daily check reports.

public key

The key of an asymmetric key pair that is published in a certificate and that relates mathematically to a unique private key. Within a public key infrastructure, the public key verifies signatures and encrypts business messages.

q

quit

The command that closes a FIN session.

R

Reach Plus

A SWIFTRef directory that financial institutions use to do the following: look up financial institutions' participation and reachability through domestic and international clearing and settlement systems look up financial institutions' participation in SWIFTNet services and FIN services look up the intermediary institution for indirect participants decide on the payment routing options

Recovery Point Objective (RPO)

The maximum period during which data may be lost following a site outage. It is linked to the required off-site back-up frequency.

Recovery Point Objective (RPO)

The maximum period during which data may be lost following a site outage. It is linked to the required off-site back-up frequency.

Recovery Time Objective (RTO)

The maximum service unavailability time in case of a single site disruption. It includes lead time (detection, escalation, decision) and internal system restoration time (also known as ISRT). ISRT is SWIFT's internal system restoration time.

Recovery Time Objective (RTO)

Regional Processor (RP)

The node of the FIN system that communicates with a user's logical terminal. The Regional Processor is primarily responsible for input message validation and output message queues for multiple destinations in a particular country. Within the flow for a single message, the Input Regional Processor and the Output Regional Processor may be the same node, depending on the location of the sender and the receiver. For an individual user, the Input Regional Processor is always the same node as the Output Regional Processor.

Regional Processor (RP)

Relationship Management Application (RMA)

A filter that enables the user to limit the correspondents he can receive messages from and the type of messages they can send to him. The use of the Relationship Management Application mechanism is mandatory for the FIN service. It is available on an optional basis for SCORE FileAct and Generic FileAct. More information - Documentation

Relationship Management Application (RMA)

Remote API

The remote API concentrates SWIFTNet traffic between Alliance Gateway and service-specific products that run on remote machines that operate with SWIFTNet Link. Alliance Access and Alliance Entry are examples of such service-specific products. The remote API software emulates the SWIFTNet Link API calls towards the service-specific product. An application that runs over remote API is not aware that it communicates with Alliance Gateway because the underlying remote API emulates a SWIFTNet Link instance. The remote API also enables applications to exchange messages using the Alliance Gateway API. Remote API connections may be secured using a Tansport Layer Security. More information - Documentation

Remote API

Remote API Host Adapter (RAHA)

The Remote API Host Adapter supports applications and service-specific interfaces that emulate the SWIFTNet Link application programming interface to communicate with Alliance Gateway. The Remote API Host Adapter also supports applications that use the Alliance Gateway API to configure entities.

Remote API Host Adapter (RAHA)

Remote Authentication Dial-In User Service

(RADIUS) An authentication and accounting system that is used to check, by means of a RADIUS server,whether the username and the password are correct and authorise access.

Remote Authentication Dial-In User Service

(RADIUS) An authentication and accounting system that is used to check, by means of a RADIUS server,whether the username and the password are correct and authorise access.

Remote Management System (RMS)

The system that remotely manages the SWIFT footprint on customers' sites.

Remote Management System (RMS)

The system that remotely manages the SWIFT footprint on customers' sites.

Remote Support

A payable low-cost option to the existing support packages (Standard Support, Standard Plus Support, Premium Support, Premium Custom Support). With Remote Support, SWIFT enters your network area to help diagnose and troubleshoot SWIFT interface issues. More information

Role-Based Access Control (RBAC)

An optional SWIFTNet facility that enables customers to control the access of end users and applications to service functions. The service administrator defines the available user access profiles (roles) for use with RBAC. After provisioning, the security officer within an institution can grant roles to end users and applications. Documentation

RT1

An infrastructure solution, provided by EBA CLEARING, for the processing of instant SEPA credit transfers at a pan-European level. Since November 2017, financial institutions from all over Europe are able to use RT1 for any payment product in euro that is fully compliant with the SCT Inst Scheme of the European Payments Council (EPC) and in line with the ISO 20022 global messaging standards for real-time payments.

r

real-time

A direct communication or messaging methodology that enables users to exchange traffic immediately when both users are connected and operational at the same time. Examples include InterAct or FileAct used in real-time mode. See also interactive.

real-time

rebuild date

The date on which the information in the BIC Directory is updated and the update becomes effective on the network.

rebuild date

The date on which the information in the BIC Directory is updated and the update becomes effective on the network.

reconciliation of traffic

The process by which a sender compares the FIN messages that it has sent with the acknowledgements that it has received. Also the process by which a recipient checks received traffic for possible duplicates, such as those indicated by Possible Duplicate Emission trailer or Possible Duplicate Message trailer. FIN provides a number of reports that assist in this process, but the task remains the user's responsibility.

reconciliation of traffic

recovery (node recovery)

The process of recovering a system node.

recovery (node recovery)

The process of recovering a system node.

reference number

A unique identifier that, in combination with an authentication code, secures the communication channel with the SWIFT SWIFTNet Public Key Infrastructure during the user certification process.

reference number

A unique identifier that, in combination with an authentication code, secures the communication channel with the SWIFT SWIFTNet Public Key Infrastructure during the user certification process.

registered vendor

See SWIFT registered provider.

registered vendor

See SWIFT registered provider.

registration

The verification of a user's credentials that results in SWIFT's recognition of the user's right to access and receive the subscribed services.

registration

The verification of a user's credentials that results in SWIFT's recognition of the user's right to access and receive the subscribed services.

release type

The classification of a release as a major release, a minor release, an update, or a security update. More information

release type

The classification of a release as a major release, a minor release, an update, or a security update. More information

reporting options

The collective name for the user-specified criteria that generates the undelivered message report in the FIN service.

requestor

The SWIFT user that sends a request through InterAct or FileAct.

requestor DN

The distinguished name of the sender of an InterAct message or a FileAct file.

resilience

The measure or ability of a business service, network, or system to remain available in the event of stress, a disturbance, or a malfunction.

responder

The SWIFT user to which the requestor addresses a request that it sends through InterAct or FileAct.

responder DN

The distinguished name of the receiver of an InterAct message or a FileAct file.

retrieval

A facility that enables a user to request and receive from FIN the history of a message. The user can obtain the message history with or without the message text. The history includes information about the sender, the sending time, and any delivery attempts.

right security officer (RSO)

A role that carries joint responsibility with a left security officer for the configuration and the management of the security functions within Alliance. Documentation

S

S.W.I.F.T. SCRL

Society for Worldwide Interbank Financial Telecommunication, Soci t Coop rative Responsabilit Limit e (limited co-operative society). More information See also SWIFT.

Sanctions List Distribution

A hosted solution that provides customers access to public sanctions lists issued by the various authorities and that are standardised, cleansed, and enriched by SWIFT. More information - Documentation

Sanctions List Monitor

A free SWIFT service for member institutions that notifies them immediately by e-mail about changes to specified sanctions lists. More information

Sanctions Screening

A centralised SWIFT service that scans MT messages sent and received over the FIN messaging network. For customers that subscribe to the service, the selected MT messages are routed to a central application that screens the messages against public sanctions lists in real time. More information - Documentation

Sanctions Testing

A centralised SWIFT service that enables customers to test and tune their sanctions screening filters or systems, through the automatic generation of test data and analysis of sanctions screening results. The service ensures that test files are up-to-date by monitoring and recording changes to public sanctions lists in real time. Subscribers download the test files as regularly as they want, and run them through their sanctions filters. Test results generated by the sanctions filters are securely submitted to the central service for analysis and interpretation. More information - Documentation

SCORE

Standardised Corporate Environment. SCORE enables corporates to use SWIFT's single, secure, and reliable messaging platform to access the services that their financial institutions can provide (for example, cash management services). Standardised Corporate Environment is based on a Closed User Group that caters for financial messaging between corporates and financial institutions. Once registered to use Standardised Corporate Environment, a financial institution can interact with any corporate that is also registered in the Closed User Group. Conversely, a corporate registered in the Closed User Group can interact with any financial institution that is a member of Standardised Corporate Environment. More information - Documentation

Secure Channel

SWIFT's central application for the management of security officer and business officer. Secure Channel enables registered security and business officer to submit and manage security officer profiles, SWIFTNet offline interventions, PKI delegation and authorisation setting changes, and FINCopy security-related changes. Secure Channel allows Alliance security officer to view Alliance interface licence keys. More information - Documentation

Securities Market Practice Group (SMPG)

The global securities-industry initiative facilitated by SWIFT with the objective to define harmonised market practices for the use of securities standards, using the ISO framework (ISO 15022 and ISO 20022). The ultimate goal of these practices is to ensure that transactions can be straight-through processed end-to-end. More information

Select command

A General Purpose Application command that requests access to the FIN application. The logical terminal issues the Select command command.

SEPA Plus

A SWIFTRef product containing SEPA routing information, SEPA Credit Transfer,and SEPA Direct Debit adherence. These files help to find the available SEPA payment channels for a beneficiary bank. More information - Documentation

Service Directory

The SWIFTRef directory helping financial institutions and corporates to look-up financial institutions' participation in domestic and international payment and clearing systems. Documentation

Shared Infrastructure Programme

The Shared Infrastructure Programme defines eligibility criteria and operational standards for third- party service bureaux offering SWIFT connectivity - ensuring quality, security and reliability. More information - Documentation

Sibos

The annual conference, exhibition, and networking event, that is organised by SWIFT. Sibos brings SWIFT customers, SWIFT partners, solution providers, and SWIFT together to discuss critical issues. Shareholders of the wider SWIFT community attend Sibos to be informed, to move the industry forward, and perhaps most importantly, to expand business relationships and opportunities. Originally, Sibos was the acronym for SWIFT international banking operations seminar. Today, Sibos is a term on its own. The correct spelling is Sibos. It is not SIBOS nor sibos.

Single Euro Payments Area (SEPA)

The area in which all euro payments are considered domestic.

Single Shared Platform (SSP)

The infrastructure that Banca d'Italia, Banque de France, and Deutsche Bundesbank have developed for TARGET2. The three banks operate the system on behalf of the Euro system. The single shared platform offers a comprehensive set of mandatory and optional services and components, and is based on a modular approach.

Slice Processor (SP)

The processor within the FIN service that safestores and routes messages. Each Slice Processor owns (that is, is in control of) a number of specific destination.

SSI Diagnostics

SWIFT validates the SSIs that your institution maintains in its repositories against many validation lists. SSI Diagnostics is the detailed report that SWIFT generates to enable your institution to investigate and fix the bad SSIs. SSI Diagnostics is part of the SWIFTRef portfolio.

SSI Plus Directory

A SWIFTRef directory that contains all correspondent bank BICs of financial institutions worldwide that hold nostro accounts in foreign currencies at other institutions. The SSI Plus Directory provides the SSIs both for retail and wholesale payments. More information - Documentation

SSI Retail Directory

A SWIFTRef directory that contains all correspondent bank BICs of financial institutions worldwide holding nostro accounts in foreign currencies at other institutions. The SSI Retail Directory provides the SSIs for retail payments specifically. More information

SSI Wholesale Directory

A SWIFTRef directory that contains all correspondent bank BICs of financial institutions worldwide holding nostro accounts in foreign currencies in other institutions. The SSI Wholesale Directory provides SSIs for wholesale payments specifically. More information

Standard Plus Support

The support service level that SWIFT provides free of charge to all SWIFT customers. SWIFT has designed Standards Plus for low to medium-volume customers. More information - Documentation

Standard Support

The support service level that SWIFT provides free of charge for Alliance Lite2 customers, SWIFTRef customers, and customers that are not SWIFT users. More information - Documentation

Standards

See SWIFT Standards.

Standards release (SR)

The set of Standards changes that SWIFT introduces on a yearly basis. More information - Standards MT documentation and Standards MX documentation

Standards Release Guide (SRG)

A SWIFT publication that contains the Standards changes that SWIFT will implement on the SWIFT network as part of the next Standards release.

Standards Translation Rules

The Standards Translation Rules provide all the necessary information and rules to translate a particular MT or MX source message to its equivalent MX or MT target message. They provide clear field-by-field translation rules, including pre-conditional rules that aim to check the translatability of a message. Standards Translation Rules are intended for business and systems analysts. Documentation about Standards Translation Rules for Corporate Actions, Credit Transfers and Cash Management, Investment Funds, Settlement and Reconciliation

Standing Settlement Instructions (SSI)

Correspondent banking payment instructions that are to be used every time a payment to a Correspondent is made. More information

STaQS

SWIFT's central testing service that enables financial institutions to test and qualify compliance of their IT systems to message standards, usage rules, market practice, and business flows. More information

STEP1

A low-value, euro payments, clearing, and settlement system, which EBA CLEARING manages within the EURO1 system.

STEP2

A Pan-European Automated Clearing House processing mass payments in euro. The platform is one of the key clearing and settlement mechanisms in the Single Euro Payments Area (SEPA), both in terms of processing volumes and participating institutions. STEP2 supports the SCT, COR, B2B and SCC services with settlement in TARGET2 through the Multilateral Netting Module (MNM) provided by SWIFT.

Support

The SWIFT customer support service. All customers are eligible to receive support for the SWIFT services that they have subscribed to, and the SWIFT products that they have ordered. SWIFT is the single point of contact to report all problems and queries that relate to SWIFT services and products. Different levels of support are available to cover the customer's needs. SWIFT also offers troubleshooting guides and courses, and additional resources such as a comprehensive knowledge base to help solve issues. More information

SWIFT

The trading name of S.W.I.F.T. SCRL and other entities of the SWIFT group. SWIFT is a trademark of S.W.I.F.T. SCRL. See also S.W.I.F.T. SCRL.

SWIFT address

For FIN addressing purposes, a 12-character code that is made up of an 11-character BIC plus an additional character, known as the logical terminal code. Documentation

SWIFT broadcast

A FIN message that SWIFT sends to all destination, or to a specified set of destinations. SWIFT sends a broadcast message either at the request of a user, or on its own initiative. FIN Operations Guide

SWIFT Business Partner

SWIFT Business Partners are an extension of SWIFT. They provide tailored, expert commercial support to specific customer groups in key markets. They are selected by SWIFT regional teams to promote, in an effective and professional manner, the increased use of SWIFT services and products. They benefit from the highest level of engagement with SWIFT based on their local market presence and expertise, as well as their established relationship with the financial industry. More information

SWIFT By-Laws

The SWIFT By-laws define the object to the company and set out the rules about inter alia the admission of shareholders, shareholding, election and functioning of the Board of Directors, and the holding of the General Meeting. SWIFT by-laws document

SWIFT Certificate Centre

A portal to the SWIFTNet PKI Certification Authority that enables end users to manage PKI certificates. For example, an end user may access the portal to activate a token or renew a PKI certificate. More information - Documentation

SWIFT Certified Application programme

The certification programme, part of the SWIFT Partner programme, that certifies selected third- party applications to ensure that they meet well-defined requirements around SWIFT standards, messaging, and connectivity. SWIFT provides certifications per specific market segment, including payments, trade, securities, and corporate. Each label category addresses a clear and specific set of SWIFT-related criteria. Certification requirements validate the capability of a product to provide automation in a SWIFT environment. They are re-evaluated each year to ensure alignment with evolving customer needs. More information - Documentation

SWIFT Certified Interface programme

The certification programme that is aimed at partners and customers that develop SWIFT interfaces. The programme ensures that the interface products meet SWIFT's requirements (correct adherence to protocols, implementation of mandatory features) and guarantees interoperability between messaging interfaces. To be certified, an interface provider must pass stringent integration testing and meet the conformance requirements defined by SWIFT. To ensure operability and business continuity, customers must connect to SWIFT through a certified interface. Documentation

SWIFT Certified programme

SWIFT acknowledges specific business applications and technology specialists for their capability to serve SWIFT customers. The SWIFT Certified relationship includes formal recognition of a component or individual's compliance with, and validation of certification prerequisites, and are subsequently entitled to publication by SWIFT. Providers of SWIFT Certified solutions receive labels or certificates to use in association with the certified component. The programme covers the following categories: the SWIFT Certified Application programme, the SWIFT Certified Specialist programme, and the SWIFT Certified Interface programme. More information

SWIFT Certified Specialist

In the scope of the SWIFT Certified Specialist programme, an individual who has successfully demonstrated his/her knowledge and understanding of certain SWIFT services and products, and who exhibits proficiency within a specific area of expertise and his/her ability to perform services directed at supporting the SWIFT user community. More information

SWIFT Certified Specialist programme

The Programme, part of the SWIFT Partner programme, that helps ensure that individuals who promote their services to SWIFT users meet the following requirements: demonstrate their knowledge and understanding of certain SWIFT services and products and exhibit their proficiency within a specific area of expertise and their ability to perform services directed at supporting the SWIFT user community. SWIFT Certified Specialists offer customers local accredited technical or consultancy assistance with SWIFT-related knowledge. More information - Documentation

SWIFT character set

The set of permissible characters for use in MTs. The list is available in Standards MT General Information.

SWIFT CLS Third Party Service

The Solution that CLS members can use to obtain a real-time validated and optionally authenticated copy of the MT 300 sent by a third party customer to confirm an FX transaction that is to be settled on CLS. Third-party customers are users of CLS that do not have a connection to the CLS Bank. More information - Documentation

SWIFT code

See BIC.

SWIFT Contractual Documentation

The form or contract executed by a customer with SWIFT to order or subscribe to SWIFT services and products, and any other documents included by reference that set out the terms and conditions governing the provision and use of the SWIFT services or products, as amended or supplemented from time to time in accordance with their terms. The SWIFT Contractual Documentation comprises in particular the relevant SWIFT standard terms and conditions and service descriptions.

SWIFT Crisis Co-ordination and Communication (SC3)

The mission of the SWIFT Crisis Co-ordination and Communication group is to promote operational order in the financial community in the extreme event of a total or partial SWIFT outage. The group comprises a dozen senior representatives from the financial industry (both key central banks and commercial institutions) and senior SWIFT staff. During a major crisis, the SWIFT Crisis Co-ordination and Communication group facilitates a two- way communication with existing crisis management structures of key financial markets. The group has a clear operational focus and it is not its intention to interfere with financial policy-related activities. The SWIFT Crisis Co-ordination and Communication group does not have the responsibility to manage a crisis at SWIFT (this is the responsibility of SWIFT).

SWIFT customer

A SWIFT user, service bureau, SWIFT registered provider, or another customer, in each case as and to the extent expressly permitted to use the relevant SWIFT services and products in the SWIFT Contractual Documentation.

SWIFT Customer Certification Programme for Staff

The SWIFT customer certification programme for staff enables managers to validate and benchmark their employees' skills, and help in the recruiting process. SWIFT Certified Experts demonstrate their knowledge, skills, and experience by correctly completing product and service specific exams. The programme is built on transparency, integrity, recognition, and validity. More information

SWIFT General Terms and Conditions

The document that constitutes the main set of SWIFT standard terms and conditions. They apply each time the form or contract executed by a customer refers to the SWIFT General Terms and Conditions. They govern the provision and use of most SWIFT services and products, such as messaging services, solutions, PKI, software, or other connectivity elements.

SWIFT gpi

The project that aims to improve customer experience in cross-border payments by increasing their speed, transparency, and traceability. To achieve this, gpi customers agree to respect service- specific business rules and technical requirements captured in rulebooks. The rules for the gCCT (gpi Customer Credit Transfer) service are described in the SWIFT gpi Customer Credit Transfer Rulebook which covers Customer Credit Transfers. A rulebook will be developed for each additional service. The SWIFT gpi product suite comprises three components, the Tracker for SWIFT gpi, the Observer Insights for SWIFT gpi, and the Directory for SWIFT gpi. More information - Documentation

SWIFT gpi Contractual Documentation

The form executed by a gpi customer with SWIFT to order or subscribe to SWIFT gpi Services and Products, and any other documents included by reference that set out the terms and conditions governing the provision and use of the SWIFT gpi Services or Products, as amended or supplemented from time to time in accordance with their terms. In addition to the relevant order forms, the SWIFT gpi Contractual Documentation comprises in particular the SWIFT gpi Terms and Conditions, the SWIFT gpi Service Description, and the SWIFT gpi Customer Credit Transfer Rulebook.

SWIFT gpi customer

One of the financial institutions involved in the transaction and subscribed to gpi.

SWIFT gpi Customer Credit Transfer

The first service implemented as part of the gpi initiative. More information - Documentation

SWIFT gpi Services and Products

The SWIFT gpi Services and Products include the SWIFT gpi service itself, the business rules and technical specifications as set out in the SWIFT gpi Customer Credit Transfer Rulebook, as well as the gpi product suite which includes the Directory for SWIFT gpi, the Tracker for SWIFT gpi, and the SWIFT gpi Observer as further defined in the SWIFT gpi Service Description.

SWIFT group

S.W.I.F.T. SCRL, its branches, and majority-owned subsidiaries worldwide. See also SWIFT.

SWIFT Index

A set of several fact-based indexes based on payments volume. The name SWIFT Index also applies to the methodology that SWIFT uses to derive Gross Domestic Product (GDP) growth estimates from the fact-based indexes. With the SWIFT Index data series, customers also receive an early indication of the short-term evolution of the GDP for a country or a group of countries. More information - Documentation

SWIFT Integration Layer (SIL)

A part of the SWIFT's interfaces portfolio. An integration framework, based on open technologies, that provides means of integrating customers formats and business flows with SWIFT messaging services. It can be used in various configurations: behind SWIFT main interface products (Alliance Messaging Hub and Alliance Access), for direct message exchange with SWIFT s Cloud Platform, for supporting stand-alone versions of SWIFT s vertical connectors like Connector for SWIFT gpi, or for providing Message Transformation services for non-SWIFT Interfaces (for SWIFT traffic only). More information - Documentation

SWIFT interface

A computer system that communicates with the SWIFT network. The SWIFT user provides and operates the SWIFT interface.

SWIFT ISAC

A web platform that contains information related to cyber threats potentially impacting SWIFT customers. This Information Sharing and Analysis Centre includes bulletins with detailed Indicators of Compromise in HTML, PDF and, where appropriate, machine-digestible formats. All registered users on swift.com can request access to the SWIFT ISAC. More information

SWIFT Network Partner

An independent network provider that SWIFT selects to provide an IP Virtual Private Network service offering to SWIFT customers. The service offering relates to technical and performance requirements that the SWIFT Network Partner has agreed with SWIFT.

SWIFT Offline Message Accountability (SOMA)

The software that reconciles message input to the system and message output to the users offline to detect any fault in the online message switching system. SWIFT Offline Message Accountability takes place at the end of each day.

SWIFT Partner programme

A global framework that provides technology companies and related institutions access to SWIFT services and products, alongside information resources to execute on certifications, to collaborate and to better address the SWIFT community priorities More information - SWIFT Partner Programme Terms and Conditions

SWIFT registered provider

A company registered under the SWIFT Partner programme that has initiated a relationship with SWIFT, which grants basic entitlements to SWIFT information and services. The status of registered provider is the pre-requisite to access any other relationship model with SWIFT under the SWIFT Partner Programme.

SWIFT Scope for Central Banks (CB)

A solution aiming at decreasing the cost of regulatory reporting for commercial banks while enabling central banks to stay up-to-date with economic developments in their country. The standard solution focuses on analysis of cross-border FIN payments (MT 103 and MT 202). Additional modules can be purchased to extend the scope of data. More information - SWIFT Scope Service Description See also SWIFT Scope portfolio.

SWIFT Scope for Global Transaction Banks (GTB)

The solution that is designed to help financial institutions get insights into their customers operations and identify new business opportunities. Documentation See also SWIFT Scope portfolio.

SWIFT Scope for Intraday Liquidity Reporting (ILR)

The solution that is aimed at financial institutions facing the challenge of compliance with intra-day liquidity reporting requirements. Its purpose is to provide customers with an effective way of monitoring intra-day liquidity and to shield them from the complexity of calculating intraday liquidity metrics (referred to as intraday liquidity monitoring tools in BCBS 248 Paper) across accounts, currencies and jurisdictions. More information - Documentation See also SWIFT Scope portfolio.

SWIFT Scope portfolio

The SWIFT Scope solution comprises a number of products built on the same principles but serving distinct business goals. The products are: SWIFT Scope for Central Banks (CB), SWIFT Scope for Intraday Liquidity Reporting (ILR), and SWIFT Scope for Global Transaction Banks (GTB). More information - Documentation

SWIFT Secure Signature Key

See 3SKey. 19.114 SWIFT Services (Consulting, Training, and Operational Services) SWIFT Services provide you with direct access to SWIFT experts who can help you optimise your business processes, identify best-practice enhancements for your SWIFT infrastructure, speed up your SWIFT integration projects, and reduce your total cost of ownership. SWIFT s services can be applied at any point in a customer s journey. These specialist services are based upon a mix of consulting, training and support services, and can be tailored to each clients needs. Whether for advice, adoption, integration, maintenance or guidance on key industry challenges. SWIFT consultants unique expertise and knowledge is leveraged to deliver the highest quality of service to its customers. More information

SWIFT services and products

The SWIFT service(s) or product(s) concerned, as described in detail in the relevant Service Description(s).

SWIFT shareholder

A SWIFT user that holds one or more shares in S.W.I.F.T. SCRL. Shareholders include banks, eligible supervised securities broker-dealers, and investment-management institutions. The SWIFT shareholder eligibility criteria are detailed in the SWIFT By-Laws and the SWIFT Corporate Rules.

SWIFT Standards

The collective name for message standards products, tools, and services that SWIFT delivers to the SWIFT community.

SWIFT Training

The SWIFT department that provides training solutions, from SWIFTSmart eLearning courses to tailored trainings or certification programmes. The department designs, develops, and delivers training programmes that cover the latest and most comprehensive information on all SWIFT related products and services. More information

SWIFT undertaking

A document that each applicant swift user completes to become a SWIFT user. The swift user application and status are governed by the SWIFT By-Laws and the SWIFT Corporate Rules.

SWIFT user

An organisation that SWIFT has admitted under the Corporate Rules as a duly authorised user of SWIFT services and products. The eligibility criteria to become a SWIFT user are set out in the Corporate Rules. Join SWIFT

SWIFT WebAccess

SWIFT WebAccess is designed to enable secure, browser-based access from an end user who uses a standard browser, to a service provider's web server over SWIFT. WebAccess is only for person-to-application use. It is meant for use in the context of HTML-based interfaces. WebAccess provides strong user authentication to the service provider's application. It also supports the use of non-repudiated transactions (security-sensitive exchanges) when used by the service provider. More information - Documentation

SWIFT's Solution for T2S

SWIFT's Solution for T2S is composed of SWIFT's VAN Solution for T2S and SWIFT's Value-added Services for T2S. More information

SWIFT's Value-added Services for T2S

A set of optional SWIFT components or services providing added value to T2S DiCoAs (Directly Connected T2S Actors).

SWIFT's VAN Solution for T2S

Defines the minimum set of mandatory components required for all DiCoAs (Directly Connected T2S Actors) to connect to T2S on SWIFT. VAN stands for Value-added Network.

SWIFTNet

The SWIFT, advanced IP-based messaging platform. SWIFTNet comprises services and products that enable customers to communicate mission-critical financial information and transactional data securely and reliably. Documentation

SWIFTNet central systems

Systems that provide the messaging service, or are used for data storage, administrative services, or service-management functions. SWIFTNet central systems are located in the SWIFT operating centre.

SWIFTNet Certification Authority (CA)

A SWIFT central system that produces and publishes digital certificate.

SWIFTNet Directory (SND)

An online repository of institutions that are connected to SWIFTNet. The SWIFTNet Directory also shows the Public Key Infrastructure certificate and Role-Based Access Control roles that the customer's security officer have issued to the operators, applications, and interfaces.

SWIFTNet Link (SNL)

A SWIFT software product to access and use the SWIFTNet messaging services, FIN, InterAct, FileAct, and SWIFT WebAccess. SWIFTNet Link embeds the SWIFTNet Public Key Infrastructure software. More information - Documentation

SWIFTNet Link alternative routing (SNL alternative routing)

A SWIFTNet Link licence option that enables a SWIFTNet Link instance (SWIFTNet Link ID) to use an alternative managed customer-premises equipment to access SWIFTNet.

SWIFTNet Link certificate (SNL certificate)

The certificate that enables SWIFT to authenticate the customer's SWIFTNet Link systems. The system creates the SWIFTNet Link instance certificate during SWIFTNet Link installation.

SWIFTNet Link heartbeat (SNL heartbeat)

An InterAct message that SWIFTNet Link instances that are configured for permanent connections regularly send out. SWIFT has designed the heartbeat process to identify quickly any TCP/IP sessions that network devices drop. The SWIFTNet Link heartbeat contains the output of the SWIFTNet Link command swiftnet status.

SWIFTNet Link ID (SNL ID)

The SWIFTNet Link identification code.

SWIFTNet Link-VPN connection (SNL-VPN connection)

The connection between the SWIFTNet Link host and the VPN box (managed customer-premises equipment). The SWIFTNet Link -VPN connection is under the sole responsibility of the user, which must secure and protect it.

SWIFTNet mandatory products

The products required for access to, and use of, the messaging service. The mandatory products are SWIFTNet Link, SWIFTNet Public Key Infrastructure, the Relationship Management Application, and the Hardware Security Module.

SWIFTNet offline intervention

The means by which security officer perform offline administration of their institution's data. Security officers submit a SWIFTNet offline intervention request to SWIFT, either through the SWIFT Secure Channel, or by phone, fax, or e-mail. This is known as offline administration because the security officers do not communicate directly with the SWIFTNet Registration Authority but with SWIFT (for example, if the security officers' activation secrets have expired).

SWIFTNet Online Operations Manager

An application that enables security officers to manage their SWIFTNet PKI certificates and delegate Role-Based Access Control roles through a SWIFT-managed SWIFT WebAccess service. It also provides functionality for SWIFTNet operations management (for example, changing the active routing rules). Documentation

SWIFTNet PKI profile

The file that contains the certified user's signing and encryption key pairs, the signature verification and encryption certificates, and the SWIFTNet Certification Authority verification certificate. When a customer stores a PKI profile, it is encrypted with the owner's password.

SWIFTNet Public Key Infrastructure (SWIFTNet

PKI) A pervasive security infrastructure based on public-key cryptography, which provides digital signatures and supporting certification services. SWIFTNet Public Key Infrastructure comprises the SWIFTNet Certification Authority, the SWIFTNet Registration Authority, and the SWIFTNet Directory. These authorities provide the customer with online certificate management capabilities.

SWIFTNet Public Key Infrastructure (SWIFTNet

SWIFTNet Registration Authority (RA)

A SWIFT-registered body that identifies and authenticates an institution and the initial users of the SWIFTNet Public Key Infrastructure (for example, an institution's security officer).

SWIFTNet security officer

An officer that is responsible for handling SWIFTNet security for an institution. The SWIFTNet security officer is an authorised representative for all communication with SWIFT about SWIFTNet security. Unless administered by another institution, an institution must have two security officers. The SWIFTNet security includes the following: the management of the institution's certificates and keys, the administration of the Role-Based Access Control roles for the insitutions' entities, and other SWIFTNet security matters. Documentation

SWIFTNet Service Profile

The set of operational parameters and their values that the service administrator has authorised. These include the definition of types, the fields that the service must copy, and the routing restrictions.

SWIFTNet switch

A SWIFTNet central processing unit that implements SWIFTNet functionality. All information shipped between SWIFTNet users through the SWIFTNet Link application programming interface travels through this node.

SWIFTRef

A secure utility where reference data owners, including banks, central banks, and code issuers can manage and publish their reference data to enable users to find all the data sets they need in one place. SWIFTRef is delivered by SWIFT. More information

SWIFTRef API

An optional distribution service over the Internet for an automated (pull mode) reception of data through Restful and Jason APIs. More information - Documentation

SWIFTRef Automated Download Service

An automated distribution service that SWIFTRef has developed for monthly and daily directory files through www.swiftrefdata.com. The service enables customers to receive automatically the monthly or daily updated directory files over the Internet. This is an alternative channel to the manual download or FileAct distribution. More information - Documentation

SWIFTRef Data Manager

A downloadable tool that enables you to manage SWIFTRef directory files and your own .txt files to meet your particular needs: use filters to refine a selected file compare files and view the changes between the two files For example, you can compare a BIC file from January 2015 with the BIC file from February 2015. merge a maximum of three files into a separate file For example, merge the BIC file with the Currency Code file. The merged file provides the currency code used per BIC in the file. More information

SWIFTRef Web Services

SWIFTRef Web Services are designed to ease the integration of SWIFT Directories with customer applications and interfaces. This is done by providing tailor-made queries and responses that can be used directly by software and applications, without any development for the end user. More information

SWIFTSmart

An interactive, cloud-based service that provides a full catalogue of courses for different levels of knowledge, in multiple languagues. With SWIFTSmart, you can train your staff anytime, anywhere, and from any device. The courses available range from SWIFT message standards for payments, trade, treasury and securities to SWIFT software and connectivity. To access SWIFTSmart, you must have a swift.com account. More information - Documentation

System Control Processor (SCP)

The component of the FIN service architecture that monitors and controls the entire FIN service. In particular, the System Control Processor validates all access requests for the FIN service.

System message trailer (SYS trailer)

A trailer that is added to system messages.

s

safestore

The storage of messages on two separate storage devices within the FIN system. A stored message can be retrieved for up to 124 days after it has been sent, but only by or on behalf of the sender or receiver of the original message.

secure code card (SCC)

The card that enables the security officer to submit SWIFTNet offline intervention requests through the Secure Channel application. The secure code card, in combination with a username and password on www.swift.com, provides a strong authentication mechanism.

secure IP network (SIPN)

SWIFT's worldwide, highly secure, and extremely reliable Virtual Private Network. SWIFT has based the secure IP network on IP and related technologies. The secure IP network provides transport services required by SWIFTNet services.

secure IP network backbone network

A SWIFT-managed, fully resilient, high-speed network that is based on IP and associated technologies. The secure IP network backbone network interconnects the SWIFT operating centre and the backbone access point.

secure login and select (SLS)

A SWIFT service that customers use to log in to the General Purpose Application and to select the FIN service.

securities system participant (SSPA)

An institution that is the regulatory authority or the administrator of the securities market infrastructure system. Alternatively, an institution that the regulatory authority or the administrator has authorised as a user of the securities market infrastructure system according to the access criteria of the securities market infrastructure system. The securities system participant is permitted to use SWIFT for the sole purpose of its participation in the securities-market infrastructure system.

security end point (SEP)

The entity in the naming tree that has a Public Key Infrastructure certificate that enables cryptographic operations and that authorises access to the SWIFTNet Link application programming interface and to SWIFTNet.

security officer (SO)

The person that manages security matters for an institution. SWIFT initially registers two security officers per institution. Documentation See also shared security officer, left security officer, and right security officer.

select sequence number (SSN)

A sequential 4-digit number that customers use within the FIN service as part of the Select command authentication process.

select state

The current status of a FIN session. The select state indicates whether there is a session open for a given logical terminal, and if so, whether the session is open for input, output, or both.

sender notification

A FINCopy service option in Y-Copy mode. The sender notification informs the sender of the status of the FINCopy message when the central institution confirms that it has processed the message.

server process

A server that processes requests coming through SWIFTNet. The server process implements a server-application code. It can act as a client process against another server process while it handles an incoming request. See also client process.

service administrator

The organisation, other than SWIFT, that approves the participation of customer in Closed User Group. The service administrator also defines the service parameters for the provision of the relevant SWIFT services and products in the Closed User Group.

service administrator destination

A valid SWIFT eight-character BIC that SWIFT assigns to the service administrator. The service administrator destination is used in digital signatures. The service administrator destination can be the same as the primary server destination.

service administrator related participant (SARP)

A SWIFT user that belongs to the same financial institution as the service administrator. To be considered as part of the same financial institution, SWIFT must register the service administrator related participant and the service administrator as belonging to the same group of customers for traffic aggregation purposes.

service agreement

An agreement between a service administrator and SWIFT. The service agreement defines the administration by or for the service administrator of the Closed User Group for a specific SWIFTNet service.

service bureau

A SWIFT user or non-user organisation that provides services to connect non-affiliated SWIFT users. The services offered by a service bureau typically include sharing, hosting, or operating SWIFT connectivity components, logging in, or managing sessions or security on behalf of SWIFT users . See also Shared Infrastructure Programme.

service description

A SWIFT document that describes a SWIFT service or product. The service description describes the rules, requirements, responsibilities, and operational parameters for the proper use of a SWIFT service or product.

service identifier

A 2-digit code that identifies the type of data being input or output. The service identifier appears in the basic header of a FIN message.

service name

The unique technical identifier of a Closed User Group.

service participant

A customer that the service administrator has admitted to participate in a Closed User Group- based service.

service type identifier

A numeric code contained in field tag 111 of a FIN gpi message that identifies the gpi service against which the gpi customer will be measured. The service type identifier for the gCCT service is 001.

session

In the context of FIN, the period between Login command and logout in the General Purpose Application, and between Select command and quit in the FIN application. During a session, a logical terminal can interact with FIN and a General Purpose Application.

session history

A retrievable summary of the activity in previous session for a BIC or destination. For example, a FIN session history provides details about the date and time at which the customer has opened and closed each session, the number of messages that the customer has sent and received, and the first and last input sequence number and output sequence number in each session for a logical terminal or group of logical terminals.

session number

A sequential 4-digit number that the FIN service uses to identify a particular session for a particular application. The session number increments by 1 each time a new session is opened for that application.

shared connection

The connection that occurs whenever different users connect through the same connectivity equipment so that the users can connect simultaneously.

shared infrastructure

An indirect connection to SWIFTNet. Users can do this through another SWIFT user (a shared connection) or by outsourcing the day-to-day operation of the connection to a third party (that is, a service bureau). See also Shared Infrastructure Programme.

shared security officer (SSO)

A security officer that manages Local Registration Application and Role-Based Access Control activities for multiple institutions (identified by different business party identifier). The shared security officer can manage multiple sub-trees for different institutions. Documentation

shareholder

See SWIFT shareholder.

signer DN

The Distinguished Name of the owner of a Public Key Infrastructure certificate that signs a message. Signer DNs apply only to InterAct and FileAct.

signing keys

The signing private key of the sender is used to sign the text; the signing public key of the sender is used by the receiver to verify the signature. The signing-key pair may be the same as the encryption-key pair, or can be different.

single window

Within the SWIFT environment, a concept that indicates the possibility to access multiple business services by means of the same connection to the secure IP network and the messaging service.

software

Software, materials, and documentation that SWIFT makes available to the customer for computer programs in object-code form that the customer has ordered to access or use SWIFT services and products.

solicited report

A report that the FIN service generates at the user's request.

sponsoring shareholder

A SWIFT shareholder that acts as the Member-Administered Closed User Group service administrator. The SWIFT shareholder can also permit one of its sub-members to be the administrator.

standards convergence

The migration from using a series of different standards or standardisation approaches to using a single, common one. The ultimate goal of standards convergence is to move to a single approach for standards development, based on a common methodology, common business models, a common set of components, and, when justified, a common physical representation. SWIFT promotes convergence towards the use of ISO 20022.

store-and-forward

A communication or messaging methodology that enables users to exchange traffic by means of a central storage facility. Messages are held temporarily in the central storage facility until the recipient is able to receive them. The correspondents need not be connected simultaneously to the central storage facility. Examples include the FIN messaging service service and standard e-mail services.

sub-member

A subsidiary or branch of a SWIFT sharehlolder. Sub-members must be more than 50 percent directly, or 100 percent indirectly, owned by a shareholder, and must meet the criteria given in the second paragraph of Article 8 of the SWIFT By-Laws. A sub-member does not own shares in SWIFT and does not have voting rights. A sub-member must fall under full management control of a shareholder.

subset sharing

A facility that enables customers to manage the distribution of output messages across multiple logical terminals (LTs).

supervised financial institution

A legal entity that engages in financial services under the supervision of a financial market regulator. The eligibility criteria are detailed in the SWIFT Corporate Rules.

supply chain finance

A category of solutions, processes, and technologies that banks and other financial services providers have designed for use with supply chain processes. The objective is to optimise the working capital and minimise the operational cost and risk associated with these processes.

synonym

A shared mode of operation for a FIN destination whereby the master destination performs the Login command and sends the Select command.

syntax

The set of rules that governs the structure and physical representation of standard messages and message components.

system message

A message that is sent from, or addressed to, the FIN system or a SWIFT department, identified as message category 0 (for example, MT 021, MT 074).

system MIR

The message input reference of a system-originated message. The date that the system MIR contains is always the message generation date expressed in GMT.

system time

The time on which the FIN service operates. The system time is expressed in GMT and is shown in all system-generated messages.

T

T-Copy mode

In T-Copy mode, SWIFT delivers the original message (or file) to the recipient, and at the same time provides a copy (of all or part of the contents) to one (or several) copy destination(s). Such a copy destination is typically the service administrator, or an entity designated by the service administrator. T-Copy mode can be used in FINCopy, FINInform, and can be used for messages or files sent in InterAct and FileAct in store-and-forward mode. See also Y-Copy mode.

TARGET2

The Eurosystem-owned European Real Time Gross Settlement (RTGS) system. TARGET2 went live in November 2007 and fully replaced the previous TARGET system in May 2008. TARGET2 is one of the largest high-value payment systems in the world.

TARGET2 Directory

The directory issued by the Eurosystem, that is used by the TARGET2 direct members to route payments within the Payments Module (PM) of the Single Shared Platform. The main purpose of the TARGET2 Directory is to provide information in the scope of the automation and the routing of payments.

TARGET2-Securities (T2S)

An infrastructure initiative launched by the Eurosystem in July 2006 to facilitate post-trading integration by offering harmonised delivery-versus-payment settlement in central bank money in substantially all securities in Europe. Its aim is to ensure efficient and sound clearing and payment systems. More information

Test and Training (T&T)

A service that enables users to simulate all the functions of FIN in test mode. This includes future message standards releases that are not yet available in live mode.

Test date

The date when SWIFT provides a technical testing environment for developers. This includes availability of SWIFTNet on the integration testbed and availability of the communication software. More information

The KYC Registry

SWIFT's response to the evolving regulatory obligations, requiring banks to enhance their KYC due diligence processes and improve the quality of the documentation and analysis of correspondent banks. The KYC Registry is designed to provide customers with KYC-related information and documents (to assist them in performing their KYC assessment when establishing new relationships or re-assessing existing relationships with correspondent banks) and to enable customers to upload, update, and manage their own KYC-related information and share it when requested by their correspondent banks KYC stands for Know Your Customer. More information - Documentation

Tracker for SWIFT gpi

The tool that provides information on the status of a transaction to gpi customers More information

Trade Services Utility (TSU)

A centralised data matching engine. SWIFT has designed the Trade Services Utility to enable banks to share costs and to enhance interoperability through increased standardisation. Banks can use the core functionality of the Trade Services Utility to offer competitive services that complement existing offerings. These services include supply chain finance, risk mitigation, management information, and in-sourcing of business processes (for example, data checking and account reconciliation). The Trade Services Utility enables better risk management for banks, increased certainty for corporates, and simpler transactions for both. More information - Documentation

Training trailer (TNG trailer)

A trailer added to all FIN Test and Training messages, that identifies those messages as training messages.

t

tank file

A repository of sample messages that are available to FIN users in local Test and Training mode.

text block

The part of a FIN message (block 4) that contains the substance of the message. The text format and structure varies according to the message type.

time of receipt

The time of receipt of a FIN message at the receiving terminal (for example, for cut-off purposes) is the delivery time of the output message.

time services

The services that provide indisputable time stamping for documents, time-dependent prices, and revocation requests.

trailer

An item of data that is contained within block 5 of a FIN message. The SWIFT system or FIN can add trailers too (for example, Delayed Message traileror Possible Duplicate Message trailer). Alternatively, a trailer can indicate that special circumstances apply to the handling of a message (for example, the Possible Duplicate Emission trailer).

training destination

A FIN destination that can send and receive training messages. Training destinations are defined in the SWIFT database in the same way as any other destination. They are identified by a zero in the eighth position of the BIC.

transaction delivery agent (TDA)

An Alliance Gateway option that exchanges messages between dedicated IBM MQ queues in two or more financial institutions.

transaction reference number (TRN)

An alphanumeric reference of up to 16 characters that the sender assigns to FIN messages. A transaction reference number is in fields 20 and 20a of a FIN message.

U

UETR (SWIFT tracking number)

A unique end-to-end transaction reference. This reference contains a Universally Unique IDentifier (UUID) compliant with version 4 of standard RFC4122. It is transported in field tag 121 of gpi messages.

UK SEPA IBAN Directory

The directory that provides a central repository of SEPA IBAN BICs for UK financial entities that are compliant with the SEPA Regulation(EU) 260/2012. This regulation stipulates that Payment Service Providers (PSPs) cannot request business identifier codes (BICs) from Payment Service Users (PSUs). Components of the directory include an online IBAN look-up tool to derive the SEPA BIC for any UK IBAN, a downloadable file, API access, and data management and reporting functionalities.

User Handbook (UHB)

The collection of the contractual, technical, and operational documents that SWIFT makes available to its customers. As part of the membership obligations, SWIFT users must subscribe to the User Handbook and pay an annual fee. This subscription grants access to the entire set of SWIFT documentation. Link to the User Handbook on www.swift.com: User Handbook Standards MT documentation and Standards MX documentation

User trailer

A trailer that the sender attaches to a FIN message. Examples of User trailers are the Training trailer and the Possible Duplicate Emission trailer.

u

undelivered message report

A report that the messaging service generates according to user-specified criteria. The undelivered message report lists all messages or files sent by a destination that remain undelivered at the time the report was generated.

unsolicited report

A report that the FIN service generates and automatically delivers to a logical terminal, without a specific user request. The FIN service generates unsolicited reports according to pre-determined criteria.

user

See SWIFT user.

user (security)

An individual within a user organisation that establishes General Purpose Application and FIN sessions. The term user (security) also applies to a user that sends and receives FIN messages. In automated systems, it also applies to those processes that perform operator functions such as session establishment and termination.

user acknowledgement

The acknowledgement that a user sends to the FIN service. The acknowledgement may be positive or negative. See also user negative acknowledgement and user positive acknowledgement.

user certificate

A certificate that is used to sign traffic sent on live services, sign traffic on test and training services, or authenticate the user of a service.

user header

An optional header that is contained in block 3 of a FIN message. The user header enables senders to add their own references (the message user reference). User headers also indicate special validation rules.

user negative acknowledgement (UNK)

A FIN user sends a negative user acknowledgement to reject a message. Checksum failure is the only grounds for the rejection of a FIN message.

user positive acknowledgement (UAK)

The acknowledgement that a user sends to FIN, which positively confirms safe receipt and acceptance of a FIN output message.

v

validation

The process that checks that a set of data conforms to a pre-defined structure and rules. See central message validation for checks that SWIFT performs.

value-date ordering

A process by which the FIN service outputs certain messages in sequence, according to the value date of the message.

verification

In relation to a given digitally signed message and public key, the process of accurately determining whether the digital signature on the message was created by the private key corresponding to that public key, and whether the message has been altered since the sender created the digital signature. See also digital signature.

V

Virtual Private Network (VPN)

A private network capability that provides the user with dynamic allocation of resources, and a uniform numbering plan over dispersed, geographically independent locations.

VPN box

The IPsec security device installed on customer premises. The VPN box enables SWIFT to create and manage a secure tunnel between the customer site and the SWIFT-managed backbone access point. SWIFT uses the secure tunnel to implement end-to-end security. More information

W

Watch

The SWIFT portfolio of business intelligence solutions that enables financial institutions to analyse the different aspects of their SWIFT business. Customers can monitor traffic flows, messaging costs, and other SWIFT expenses. Watch comprises two product categories: Watch Analytics and Watch Insights. Besides these products, a Business Intelligence Consulting Services Portfolio is also available. More information

Watch Analytics

The Watch online analysis product that enables financial institutions to analyse their messaging activity over SWIFT, from the point of view of traffic, message cost, and billing (total cost of ownership). Statistics now include currency and amount information extracted from the message payload. Watch Analytics comprise four bundles: the volume bundle (Watch Traffic Analytics and Watch Message Cost Analytics), the value bundle (Watch Banking Analytics), the value premium bundle (Watch Banking Analytics Premium), and the billing bundle (Watch Billing Analytics). All Analytics are accessible on www.swift.com. SWIFT updates figures on a monthly basis.

Watch Banking Analytics

An online analysis product that provides an overview of an institution's traffic volumes and an overview of the content of some messages (amount and currency) information. Customers can use this product to examine their SWIFT messaging volumes in an interactive and intuitive way. More information - Documentation

Watch Banking Analytics Premium

An online analysis product that provides an aggregated overview of an institution's FIN traffic and an aggregated overview of some targeted payload information from FIN messages (like amount, currency, and other data attributes), focusing on payments, trade finance, and treasury messages. More information - Documentation

Watch Banking Insights

The Watch online analysis product for Payments and Cash Management (Categories 1, 2, and 9) and Trade Finance (Categories 4 and 7).The offering consists of four different dashboards: Develop Footprint & Portfolio (Payments and Cash Management), Develop Footprint & Portfolio (Trade Finance), Manage Correspondent Network, and Improve Operational Efficiency & Quality (All Categories). More information - Documentation

Watch Billing Analytics

The Watch online analysis product that enables an institution to analyse its total cost of ownership (TCO) in SWIFT. Watch Billing Analyser provides all billing-related information, both network-based (Network Based Invoice) and non-network-based, including credit notes and invoices for all products and services over a 3-year period. More information - Documentation

Watch for Securities

The Watch segment of products that focuses on FIN category 5 traffic (Securities business in ISO 15022, more particularly Settlement and Asset Servicing messages) and that allows for more granularity and enrichment of attributes compared to the classic Analytics. Watch for Securities includes Watch Securities Analytics and Watch Securities Insights. More information See also Watch Securities Analytics and Watch Securities Insights.

Watch Insights

The Watch online analysis product that provides on-line access to actionable, visual, and dynamic dashboards, covering a specific business scope. Watch Insights offer fast and direct access to critical business data about customers (on a BIC level), their activity share in specific countries and/or corridors, as well as some optional peer benchmarking statistics. See also Watch Banking Insights and Watch Securities Insights.

Watch Message Cost Analytics

The Watch online analysis product that provides a consolidated view of an institution's billed FIN, InterAct, and FileAct traffic. Such information is available notably in terms of the average message price, fixed charges, number of chargeable units, and other measures. An institution can survey its messaging costs across multiple dimensions (for example, time, geography, or business solution) with the goal to reduce their message price, cross-charge costs internally or more strategically improve the operational efficiency. More information - Documentation

Watch Securities Analytics

An online analysis product that provides an overview of an institution's FIN category 5 (Securities messages) traffic volumes and some information extracted from the content of specific messages (amount and currency, place of settlement). Customers can use Watch Securities Analytics to monitor their SWIFT traffic in an interactive and intuitive way and, by comparing them with SWIFT totals, to deduct some useful insights for their Securities business. More information - Documentation

Watch Securities Insights

The Business Intelligence tool that provides on-line access to actionable, visual, and dynamic dashboards. Watch Securities Insights covers FIN category 5 (Securities messages) activity. More information - Documentation

Watch Traffic Analytics

The Watch online analysis product that provides an overview of an institution's traffic volumes. It enables institutions to analyse volume traffic by market, message type, and region, and to track individual counterparties. The objective is to understand, amongst others, how the institution's traffic volumes are evolving or which are its most important partners. More information - Documentation

w

web certificate

See Browse certificate.

window

A technique to improve communication efficiency by buffering message transmission up to a maximum number of sent messages (input window), or received messages (output window), that are awaiting logical acknowledgement.

window size

The number of packets that can be in transit between correspondents without acknowledgement. Window size is applicable at both network and application levels. For FIN, the window size is the number of FIN messages that a user can send without acknowledgement.

workflow engine

The internal SWIFT term for middleware for IP-based services and products.

wrapper

The software that SWIFT adds to a component to provide the five, standard interfaces that must be present in a SWIFT component. These standard interfaces are introspective, operation, support, management, and business. The wrapper ensures that the component's external interfaces conform to the Information Transport Layer (ITL) architecture.

Y

Y-Copy mode

A copying mode in which the service administrator authorises or rejects a message or file before the messaging service delivers the message or file to the intended recipient. Y-Copy mode can be used in FINCopy, FINInform, and can be used for messages or files sent in InterAct and FileAct in store-and-forward mode.See also T-Copy mode.

z

zone cold start

The restoration of service from an empty or zeroed state for a single messaging zone that is, currently either the Trans-Atlantic or the European zone).