DUBLIN -- Putting an end to years of debate, the Society for Worldwide Interbank Financial Telecommunication announced this week that it is welcoming broker-dealers and investment managers to become members of the bank-owned payment messaging network.

The unanimous decision of Swift's board of directors last month reflected the adoption of a law in the United States that has broken down the barriers between banks and brokerages, Swift said, and a recognition that securities firms are the fastest-growing category of the network's users.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.