- Euroclear France engages Sterling Commerce to establish new client communication interface
London, April 27 2004 â Sterling Commerce, one of the world's largest providers of business integration solutions, today announced that its Connect:ExpressÃ¢ Unix solution has been selected by French bank SociÃ©tÃ© GÃ©nÃ©rale and the world leader in domestic and international securities transactions, Euroclear, to perform the companiesâ migration to IP-based SWIFTNet from its traditional FIN X.25-based network.
These two new partnership announcements follow the decision last year by BRED, a subsidiary of Banque Populaire, to deploy Connect:ExpressÂ® Unix for SWIFTNet to integrate its central financial system with the new SWIFTAlliance Gateway.
Sterling Commerce has held a unique partnership agreement with SWIFT (Society for Worldwide Interbank Financial Telecommunications) since 2002, when the industry-owned cooperative requested that all its members migrate to the new IP-based SWIFTNet.
SociÃ©tÃ© GÃ©nÃ©rale is a long-time user of the PeSIT Connect :Express file transfer solution and has now chosen Sterling Commerceâs Connect:Express for SWIFTNet Unix solution to rationalise its use of SWIFT interfaces and integrate file exchanges. The SociÃ©tÃ© GÃ©nÃ©rale previously had only 60 SWIFT interfaces and the aim of this new SWIFTNet migration is to establish a global platform for all file transfers.
Alain Huet, co-director of the project at SociÃ©tÃ© GÃ©nÃ©rale, said: "The existing partnership between Sterling Commerce and SWIFT was a guarantee of success for us. We have full confidence in Sterling Commerce who, as a proactive and flexible partner, has managed to develop a solution that is perfectly adapted to our needs."
Euroclear France provides securities services to major financial institutions located in more than 80 countries and has also selected Connect:Express for SWIFTNet Unix for its migration project. The objective of the SWIFT migration is to create new and additional client communication networks. Euroclear France now benefits from four file exchange channels (MQ Series, PeSit, FTP and SWIFTNet), which support the diversity of its clients disparate IT systems.
The SociÃ©tÃ© GÃ©nÃ©rale and Euroclear France have worked in partnership to establish file transfer capability based on the SWIFTNet FileAct service and the project is now in its operational phase. Implementation of the Connect:Express for SWIFTNet solution was realised in tight collaboration with Sterling Commerceâs Paris consulting team.