New Swift Category Approved

The Society for Worldwide Interbank Financial Telecommunication said its shareholders unanimously approved a new membership category for financial regulators.

Swift said the new category, which includes the payments and securities markets, would help build global regulatory responses and solutions to financial problems.

"The addition of financial market regulators … is a tangible example of how we are helping our customers meet their regulatory requirements," Swift's chief executive, Lazaro Campos, said in a press release Thursday.

The cooperative organization supplies messaging software to nearly 8,100 financial institutions in 207 countries.

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