The european primary placement facility S.A. (“eppf“), a securitisation vehicle established under Luxembourg law and supervised by the Commission de Surveillance du Secteur Financier (CSSF), has joined SWIFT (S.W.I.F.T. SCRL), as an active member. SWIFT, which is headquartered in Belgium, is a global member owned cooperative and the world’s leading provider of secure financial messaging services.
Following its successful onboarding, from 16 October 2021 onwards, eppf is connected to a global network comprising 11,000 banks and member institutions in 200 countries. eppf appears under its SWIFT/BIC identifier EPPFLULL.
The direct communication with SWIFT members will help eppf provide increased efficiency in financing transactions to its clients across the lifecycle. For example, SWIFT messages in the highly secure environment will be employed when sending payment instructions upon completion of a bond issuance or subsequent bond interest payments as means of communication with various eppf platform members. These include, for example, paying agents, central securities depositaries and custodian banks, client treasuries, investment and transaction banks depending on the specific transaction structure. eppf remains focused on large financing transactions in highly secure environments.
Over the course of the next months, eppf will expand its SWIFT connectivity to also allow for order routings into various marketplaces. Overall, this should improve the transaction finality and security for the entire market.
Saskia Devolder, Head of Europe North at SWIFT said: “We are delighted to welcome eppf to our community of 11,000 banking and securities organisations, market infrastructures and corporate customers in more than 200 countries and territories. Connecting to SWIFT will enable eppf and its members to benefit from robust, reliable and secure financial messaging. Together with our capital markets community we are on a journey to deliver future-proof solutions to some of today’s most pressing post-trade challenges. These collaborative efforts will enable smarter securities processes that will help prevent fails, reduce costs and deliver enhanced customer experience.”
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Robert Koller, CEO of the eppf Group said: “We are extremely excited to count with our own address in the SWIFT system after having passed the rigorous joining process. Only regulated financial entities are able to join the SWIFT system. It is another sign of how the eppf Group is becoming more and more an integral part of the financial system and we are very much looking forward to communicating with our counterparts over SWIFT and to working with the SWIFT team, reducing settlement errors, easing reconciliation and completing the only true end-to-end digital solution in capital markets available today.”
Fabian Vandenreydt, Special Advisor to the eppf Group added: “The further automation and simplification of the issuer to investor value chain is a must do for the industry globally. By being part of the SWIFT ecosystem eppf will bring its market leading smarter issuance technology to the 6,000 securities firms connected to the network allowing them to further reduce cost and improve time to market of the issuance process.”
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