MegaCustody, the settlement module of the extensive Megara securities processing platform, was awarded the SWIFTReady Label in Securities Settlement for the eighth year in a row. MegaCor, VERMEGâs automated corporate actions solution, has been certified with the SWIFTReady Label in Corporate Actions ever since the Label was introduced in 2003.
In order to be accredited, both solutions had to meet SWIFTâs strict criteria, which are upgraded every year, to ensure maximum STP (Straight Through Processing) and compliance with the best international markets practices.
Christian Cure, VERMEGâs EVP, Sales said: âMegaCustody and MegaCor are the core modules of the Megara suite, our securities processing platform which is being adopted by a growing number of custodians on the market. These awards confirm the strong capacity of Megara to stick with Swift standard, automate the settlement and corporate actions process and keep totally up to date with all change in international market practices.â
HervÃ© Valentin, Senior Business Development Manager, Partner Management at SWIFT commented: âThe new SWIFT partner framework, unveiled last year by SWIFT, aimed to strengthen the value of SWIFT labels for the users of SWIFT certified products. The renewal of the SWIFTReady labels to MegaCustody and MegaCor makes Vermegâs custody platform ideally placed to efficiently serve the needs of any financial institutions willing to automate its cross border flows over SWIFTâ.