Joining SWIFT through Treasury Counterparty (TRCO)
The TRCO model allows a corporate to exchange treasury deals confirmations (e.g., spots, forwards, currency options, money markets) with any financial institution on SWIFT (i.e., no need to register in a closed user group). This model can be used by both listed and non-listed companies. To register in this framework, the corporate needs to be sponsored by eight financial institutions which are members of SWIFT.
Note that the TRCO model does not cater for business needs other than treasury confirmations such as e.g., sending payment instructions, receiving statements, buying and selling securities. These other activities can be performed through SCORE or MA-CUG (note that these two models can also cater for the exchange of confirmations.)
