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swift（敏捷的） SWIFT Open categories: finance, banking An introduction to.SWIFT Two.SWIFT features Three.SWIFT message representation 1. project representation 2. date representation 3. digital representation 4. currency representation Four. Common item representation in letters of credit 1. L / C L / C 2. amendment of L / C An introduction to.SWIFT SWIFT, also known as global interbank finance and Telecommunications Association, is an international inter bank cooperation organization established in 1973. Most banks in most countries in the world now use the SWIFT system. The use of SWIFT has enabled bank settlement to provide safe, reliable, fast, standardized and automated communications, thereby greatly improving the banks settlement speed. Since the format of SWIFT is standardized, the format of the letter of credit is mainly SWIFT message, so it is necessary to understand the SWIFT. Two.SWIFT features 1.SWIFT needs membership. Most of the specialized banks in China are members. 2.SWIFT costs less. The same amount of content, SWIFT costs only about 18% of TELEX (telex), only about 2.5% of CABLE (telegraph). 3.SWIFT is more secure. SWIFT test than test telex, reliability high security, automation and high. The format of 4.SWIFT is standardized. For SWIFT messages, the SWIFT organization has a uniform requirement and format. Three.SWIFT message representation. 1. project representation SWIFT consists of items (FIELD), such as: 59 BENEFICIARY (Beneficiary), is a project, 59 is the code name of the project, can be two digit representation, or two digits plus letters to indicate, such as 51A APPLICANT (applicant). Different codes mean different meanings. The project also specifies a format, and various SWIFT messages must be represented in this format. In the SWIFT message, some items are required items (MANDATORY FIELD), some items are optional items (OPTIONAL FIELD), is must have the required items, such as: 31D DATE, AND, PLACE, OF, EXPIRY (validity of the letter of c