Connecting to SWIFT via NSD Service Bureau

10 March 2016
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National Settlement Depository has introduced services of the certified Service Bureau of SWIFT in the Russian market.

The SWIFT Service Bureau is a certified organization which provides full access to all SWIFT services and is responsible for organizing interactions with the global network. Connection through the Service Bureau allows clients to significantly reduce SWIFT services related costs.

The companies with the relatively low traffic of SWIFT messages are often not interested in incurring costs for direct connection to the system, as they need to buy the special SWIFT equipment, reorganize their infrastructures and personnel, regularly upgrade the software, and meet safety and business continuity requirements. The NSD Service Bureau incurs all costs for meeting these requirements and let other market participants connect to the system and use the SWIFT network through the NSD terminal.

NSD as Russia’s central securities depository and the largest settlement infrastructure organization works closely with SWIFT; NSD generates a high traffic of messages in the system and provides other market participants with an opportunity to connect to the network. After connecting to SWIFT via the NSD Service Bureau, an organization becomes a full member of the community as other organizations connected to SWIFT directly.

The detailed description of the SWIFT connectivity service is available here.

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