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Swiss plan bank

SIS Segaintersettle, the Swiss national and international clearing and settlement organisation based in Zurich, is pushing forward plans to establish a Swiss securities transaction bank, with preliminary plans to be made by April.
The new bank would enable customer banks to hive off back-office functions and save on investment in systems and information technology.
The potential cost savings from the system have been estimated at around 50%.
Four to five Swiss banks will be announced as pilots for the scheme this month.

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