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How can SWIFT be used on the Russian Securities Market?

How can SWIFT be used on the Russian Securities Market?. Steven Palstermans Head of Russia, CIS & Mongolia. Eligibility criteria – 27 SWIFT user categories. Members. Non shareholding Members. CREST Participants. Sub-members. Securities System Participants. Payments System Participants.

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How can SWIFT be used on the Russian Securities Market?

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  1. How can SWIFT be used on the Russian Securities Market? Steven Palstermans Head of Russia, CIS & Mongolia

  2. Eligibility criteria – 27 SWIFT user categories Members Non shareholding Members CREST Participants Sub-members Securities System Participants Payments System Participants Trading Institutions Brokers & Dealers Participants in MA-CUGs Corporates IMI’s SWIFTCommunity Central Depositories& clearing Institutions Treasury Counterparties Recognised Exchangesfor Securities & relatedfinancial Instruments Financial Market Regulators Securities Market Data Providers Money Brokers Securities Electronice TradeConfirmation Service Providers Fund Administrators Treasury ETC Service Providers Registrar & Transfer Agents Subsidiary Providers of custody & Nominee Services Securities Proxy voting Agencies Travellers Cheque Issuers Trust or Fiduciary Services Companies Representative Offices Non shareholding Financial Inst.

  3. CIS : Traffic Share Source : FIN_per Sales Area

  4. Russia : Messages by market Russia CIS

  5. Russia : Weight Domestic Traffic per Market Weight: 54% Weight: 26% Weight: 70% Weight: 15%

  6. Securities Market Infrastructures on SWIFT>80 institutions from 50 countries Hungary Indonesia Ireland Keler KSEI Euroclear UK & Ireland Argentina Caja de Valores Singapore Slovakia The Central Depository (Pte) Ltd Monetary Authority of Singapore Bank of Slovakia CDCP Australia Australian Securities Exchange Austraclear Israel Tel Aviv Stock Exchange Austria OeKB Slovenia Central Securities Clearing Corporation – KDD Italy CCGMonte Titoli Belgium Euroclear Belgium Euroclear BankMTSNational Bank of Belgium South Africa STRATEJSE Ltd Japan Bank of JapanJasdec Spain IberclearMEFFMTS Kazakhstan Central Securities Depository Kazakhstan Stock Exchange Brazil CBLC Canada CDS Korea Korea Securities Depository Sri Lanka Central Bank of Sri Lanka (LankaSecure) Croatia Sredisnja Depositarrna Agencija Latvia Bank of LatviaCentral DepositoryOMX Czech Republic UNIVYC Sweden NCSD Sweden – VPCOMX OMX VP Denmark Lebanon Midclear Central Depository Switzerland SISSIS x-clear Estonia Estonian Securities Depository OMX Lithuania OMX Taiwan Taiwan Depository & Clearing Corporation Luxemburg Clearstream Banking SA Egypt MCSD MISR for Clearing, Settlement and Depository Thailand Thailand Securities Depository Co. Ltd. Mexico S.D. Indeval Finland NCSD Finland – APKOMX Turkey ISE Settlement and Custody Bank INC Netherlands Euroclear NederlandMTS UAE - Dubai DIFX France Euroclear FranceEuronext Paris – MATIFMTS New Zealand RBNZ Austraclear NZX Ltd United Kingdom Euroclear UK & IrelandLCH.ClearnetLondon Stock Exchange Germany Eurex ClearingClearstream Banking AGMTS Norway VPS USA Chicago Mercantile ExchangeClearing CorporationDTCCFederal Reserve BanksOmgeoOptions Clearing Corporation Poland National Depository for Securities – KDPW Greece Central Securities DepositoryBank of Greece Portugal Banco de Portugal – SITEMEMTS Hong Kong Hong Kong Exchanges and Clearing Hong Kong Monetary Authority (CMU) Russian Federation The National Depository Center Depository Clearing Company Zimbabwe Reserve Bank of Zimbabwe

  7. How can we talk to each other in one language: ISO Standards?

  8. Existing standards working groups for CSDs Giovannini working groups • Global CSD working group • Consolidate CSD views • on standards

  9. National Market Practice Groups www.smpg.info NMPG countries NMPG countries specified on EIG

  10. Market Need– Manual data entry problem Issuer Issuer Issuer Registrar On-Line (very few markets) CSD Custodian ISO 15022 Investor

  11. Market need– Corporate Actions • Challenges • Significant shortfall in message quality and market practice compliance • Limitations of software vendor solutions • Difficult business case – management buy-in for improvement projects • Drivers • Losses / risk mitigation • Operational efficiency • Reducing costs • Regulatory compliance • Customer Service • Maximise portfolio performance • Achieve scalability • The Drive for STP • Standards • Market practice and tools • Best practices

  12. STaQS for Corporate Actions • Simulation Testing and Qualification Service (STaQS) • Test MT 564 Notification and MT 566 Confirmation messages for compliance to market practice … a health check for Corporate Actions messages • What can you do with this service? • Measure conformance • Identify improvement areas • Benchmark progress • Improve counterparty automation

  13. How to make it easier and cheaper to use SWIFT?

  14. Institutions 300,000 5,700 180 1,000 40,000 Low volume customers High volumecustomers 80% Medium volumecustomers Low volumecustomers 18% 2% Messages per day

  15. Alliance Lite Product Simple connectivity • Easy to order, install and use • SWIFT security • FIN and FileAct enabled • Attractive price • Available now.

  16. Attractive pricing EUR/month 1 item = 1 FIN MT, or 1 FileAct chunk of 100 KB, sent or received 1 EUR/item 850 Flat Fee Pay as you go 200 Monthly billing Items/month 650 4,000 Subscription for 1 year, tacitly renewed, cancellation with 3 months notice

  17. Questions?

  18. Thank you

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