Financial markets software

The Society for Worldwide Interbank Financial Telecommunication (SWIFT), legally S.W.I.F.T. SC, is a cooperative established in 1973 in Belgium () and owned by the banks and other member firms that use its service. SWIFT provides the main messaging network through which international payments are initiated. It also sells software and services to financial institutions, mostly for use on its proprietary "SWIFTNet", and assigns ISO 9362 Business Identifier Codes (BICs), popularly known as "SWIFT codes".

The System for Transfer of Financial Messages (), abbreviated SPFS (), is a Russian equivalent of the SWIFT financial transfer system, developed by the Central Bank of Russia. The system has been in development since 2014, when the United States government threatened to disconnect the Russian Federation from the SWIFT system. Since June 2024 the system is banned by the European Council for EU banks outside Russia, and in an alert issued in November 2024 the US OFAC warned that institutions that join the system after the issuance of this alert will be subject to aggressive targeting.

financial markets payment system