GTC launches @GlobalTrade Dynamic Message Converter to help banks get ready for swift MT 798

Toronto, Canada, February 10, 2011 – GlobalTrade Corporation (GTC) today announced the launch of @GlobalTrade Dynamic Message Converter, a new product designed to help banks convert traditional SWIFT Category 7 trade messages into the new MT 798, German DTA, proprietary XML and ISO 20022 standards.

‘We have developed this middleware product to assist banks with a variety of back office systems to quickly prepare to support their corporate clients with new SWIFT MT 798 trade messages. Using our Dynamic Message Converter (DMC) banks will be able to achieve this objective for a fraction of internal development costs,’ said Nick Pachnev, GTC’s CTO.

‘We very much welcome GTC’s initiative’ said Urs Kern, Senior Market Expert, Trade and Supply Chain Solutions for the EMEA region at SWIFT. ‘More and more corporates are confirming their interest to use SWIFT’s trade standards for communication with their banks. GTC’s converter enables banks to prepare in an easy and cost-effective way.’

DMC has the capability not only to convert traditional SWIFT MT 700 messages to MT 798 but also to convert messages between different standards. DMC can be used as a stand-alone application or integrated into existing messaging systems. DMC’s design is based on the concept of a ‘Master Record and ‘Star Architecture’ making it extremely flexible and highly expandable to accommodate variations of the existing standards.

About GTC

GlobalTrade Corporation (GTC) is a software developer and applications service provider whose product solutions improve the world of trade finance and trade services. Our @GlobalTrade systems help buyers, sellers, traders, and financial institutions communicate faster and more efficiently while reducing risk and improving monitoring and control. Our customers include both business enterprises that need consolidated access to multiple banks as well as financial institutions that require supply chain finance solutions to meet their clients’ needs. @GlobalTrade™ is the registered trademark of GlobalTrade Corporation.

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