A Value Proposition - SWIFT-LESS

SS&C now offers seamless delivery of SWIFT formatted reconciliation files from custodians to the Recon™ platform. SSCNet can now act on behalf of customers as an ETC Service Bureau to collect and distribute SWIFT messages to non-SWIFT-enabled customers. Becoming a member of the SWIFT network is no longer a requirement to receive SWIFT messages for the purpose of reconciliation.

In early 2008, SS&C obtained approval to accept messages on behalf of its clients via SS&C's internal Bank Identifier Code (BIC). This now allows SS&C to deliver SWIFT messages in an ASCII file format to a customer's environment.

Some of the benefits of using SSCNet and Recon include:

1. Avoid SWIFT subscription fees
2. SWIFT provides industry standard messages that are already integrated with Recon™
3. No need to maintain SWIFT software/hardware infrastructure to receive messages
4. Faster transition when converting from one custodian to another
5. Tighter integration with SSCNet provides the option to conduct confirmation/affirmation reconciliation

Special Note
Recon users should note the following types of files that client generally use for reconciliation purposes are:

1. 535 messages for Holdings reconciliations
2. 940/950 messages for Cash Activity and Cash Balance reconciliations

To benefit from this service, customers only need to become subscribers of SSCNet.

The SWIFT messages currently integrated with the Recon™ product are: