SWIFT: Exceptionally strong message growth in 2007

  • 6-18-2008

SWIFT announced today 18 june 2008 that message traffic growth exceeded expectations in 2007. Message traffic increased 22.2 % compared to 2006 while operating revenue before rebate rose by 6.3%. During the same period, the average price of a SWIFT message decreased by 16.2 %.Traffic performance was well above projected levels due to exceptional market volatility: 3.5 billion FIN messages were processed compared to a forecast of 3 billion. This performance was driven by strong securities traffic, which increased by 32.2 %. Payments messages increased 16.1 %, driven by increased securities and foreign exchange settlements, and customer credit transfers. High volatility in the foreign exchange market led to a 24.6% increase in Treasury messages. The average daily volume was 14 million messages.

In line with its strategic goal to cut the average message price by 50% between 2006 and 2011, SWIFT reduced overall FIN prices by 10 % and announced a 15% rebate on all messaging services, representing savings of EUR 57 million for customers (versus 2006: EUR 26 million). Net profit reached EUR 36 million. Total operating revenue before rebate increased by 6.3% from EUR 588 million in 2006 to 625 million in 2007. This result was primarily due to strong FIN traffic and interface sales. This provides a solid basis to finance investments and reduce message prices further.

La Hulpe, Belgium, June18 th, 2008


Source: SWIFT, La Hulpe, Belgium, WWW.SWIFT.COM

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