*Letters

SIA Submits Comments to Society for Worldwide Interbank Financial Telecommunication on the Giovannini Barrier 1

Published on:
February 14, 2006

The Cross-Border Subcommittee of the Securities Industry Association (SIA)* provides comments to Society for Worldwide Interbank Financial Telecommunication (SWIFT)on the draft protocol recommendation for the removal of Giovannini Barrier 1. While SIA finds the proposal encouraging, it expects that Europeans would need the promised quantitative cost benefit and standards/messaging gap analyses to comprehend the full impact and judge the economic viability of the proposal.

*SIFMA is the product of a merger between the Securities Industry Association (SIA) and The Bond Market Association (TBMA) in 2006.

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