12 September 2013

Common Language in Wholesale Financial Services

This paper examines the idea of a common financial language (CFL) from both conceptual and practical perspectives. There can be no single CFL because there is no single underlying and unchanging financial reality. Potential efficiency and risk-management benefits from developing greater CFL for data management are large; but in practice CFL must be confined to a limited number of shared concepts, with fuller agreement on definitions and relationships for use by particular ‘communities of interest’ within firms and in specific operational processes. CFL will be a process of gradual evolution and adoption, not a once and for all linguistic revolution.

by Alistair Milne and Malcolm Chisholm

Download (1.07MB)

Call for Proposals

Two new Call for Proposals on offer - Driving Global Instant Payments: Challenges & Opportunities and Shortening the Settlement Cycle: The Move to T+2 and its Implications

Annual Report 2017

The SWIFT Institute Annual Report 2017 is now available.



The SWIFT Institute issues calls for research proposals on specific themes or topics on an on-going basis. Submissions are reviewed by the Advisory Council, and grants are awarded to support approved research proposals.
Proposals from prospective researchers must include a cover letter, CV, details of research experience, examples of published work, references, idea for research, methodology to be used, timeframe for completion, and expected output (e.g. working paper, presentation). Proposals should only be submitted in response to an issued Call for Proposal.
Once a sponsored research paper is ready to be published, the SWIFT Institute will publish it on its website as well as the academic journal repository SSRN. The SWIFT Institute will issue a press release on the paper and may even feature the newly published research in its quarterly newsletter. After the SWIFT Institute publishes the research, the research and its content belong to the researcher to publish, giving credit to the support given by the SWIFT Institute.

Submit your paper

If you have a paper that is of relevance to the financial industry and you would like it to be considered for publication on the SWIFT Institute website, please send us your request by using our Contact Form.

Contact Us