Which of the following statements regarding SWIFT are not true?

SWIFT is an acronym for Society for Western Interbank Financial

Telecommunications.

Provides around$-$the$-$clock international payments between more than $11,353$

financial institutions in $200$ countries.

Uses proprietary secure messaging system in which each message represents a

transfer of currencies for payments, treasury, securities$,$ and trade.

None of the options are true.