Read this article now - Try Goliath Business News - FREE!   
You can view this article PLUS...

• Over 5 million business articles
• Hundreds of the most trusted magazines, newswires, and journals (see list)
• Premium business information that is timely and relevant
• Unlimited Access

Tell Me More   Terms and Conditions

Purchase this article for $4.95

...instructions, reports sent to regulatory bodies, and cash management are a few examples. Maximizing profit on every exchange is gained by moving the transactions closer to real-time processing.

Automated transactions are often routed through the S.W.I.F.T. (Society for Worldwide Interbank Financial Telecommunications) network, an industry-owned cooperative supplying secure messaging services and interface software to 7,000 financial institutions worldwide.

SwiftML, or the S.W.I.F.T. Markup Language, is an XML vocabulary used to automate Swift messages. The design of SwiftML accounts for the interoperability issue between different financial XML implementations through the use of SWIFTStandards Modeling, This new standardization approach allows the separation of the business standard from its physical representation in XML syntax. All this information is stored in the SWIFTStandards Repository. This allows different languages, even those that are non-XML, to interoperate through the use of the common business model. SwiftML is in line with major XML standardization initiatives (e.g., ebXML, a global initiative to achieve common and predictable usage of XML cross-industry). Consistent and uniform SwiftML messages come from the...

NOTE: All illustrations and photos have been removed from this article.



More articles from XML Journal
Remember ebXML? Doing business in real time.(Standards), February 01, 2004
Web-services transactions: from Loosely Coupled--the Missing Pieces of..., February 01, 2004
Rendering a connected tree using XSLT: the ideas behind XSLT and XPath..., February 01, 2004

Looking for additional articles?
Search our database of over 3 million articles.

Looking for more in-depth information on this industry?
Search our complete database of Industry & Market reports by text, subject, publication name or publication date.

About Goliath
Whether you're looking for sales prospects, competitive information, company analysis or best practices in managing your organization, Goliath can help you meet your business needs.

Our extensive business information databases empower business professionals with both the breadth and depth of credible, authoritative information they need to support their business goals. Whether it be strategic planning, sales prospecting, company research or defining management best practices - Goliath is your leading source for accurate information.