Securities post trade initiatives, Alexandre Kech, SWIFT
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Transcript of Securities post trade initiatives, Alexandre Kech, SWIFT
Securities Stream9 July 2014
Your host:
Alexandre Kech, Director, Securities Market Infrastructure, SWIFT
2
Securities Markets Trends
ASEAN Regional Securities Initiatives
3
Confidential
Investor ServicesDeutsche Bank
ASEAN Post Trade Settlement
July 2014
ConfidentialInvestor Services
Deutsche Bank
Agenda
5
1 ASEAN Trade Link
2 ASEAN Post-Trade – Current Model
3 ASEAN Post-Trade – Proposed Model
4 ASEAN Post-Trade – Benefits
Confidential
Deutsche Bank
Investor Services
ASEAN Trade Link Developments
Overview
6
Source: Asia Etrader Q3 2012
ASEAN 2015 Vision
— Seeds were sown during the 12th ASEAN Summit in January 2007, where ASEAN leaders affirmed their commitment to accelerate integration and trade into and amongst the community
— Goals: (1) Promoting ASEAN as an asset class (2) Lower funding costs for listed companies (3) Improving trading efficiency and lower trading cost locally and abroad
Definition
— A platform designed to link the various national exchanges in ASEAN
— First step to develop a single market access for ASEAN capital markets
— Aims to cover 6 countries, 7 exchanges, >3,600 companies, and 540 million people
Progress till date
— BMB, SET, and SGX are currently the only exchanges on the ASEAN link (Together, they represent more than two-thirds of the USD 2 trillion market capitalization of the ASEAN exchanges)
— PSE expected to join in 2015
— Exchanges appoint Deutsche Bank as Sole settlement Bank in April 2014.
IndonesiaIDX
MalaysiaBMB
PhilippinesPSE
SingaporeSGX
ThailandSET
Vietnam HOSE & HSE…..
ConfidentialInvestor Services
Deutsche Bank
Executing Exchange
ASEAN Post-Trade – Current Model
7
Sponsoring Broker (SB)
Originating Broker’s
Local Bank
EXECUTING EXCHANGE ORIGINATING EXCHANGE
Originating ACE
Originating Broker (OB)
(A)
Investor A buys
Executing Clearing House
Trading
Trade Order1Matched Trades2
Trades executed3 Pre-settlement files4
Funding for settlement5
Executing Depositary
Shares will be held either under OB A/c OR
OB A/c Investor
Settlement Files (Gross)
6
1
1
OB – Originating Broker SB – Sponsoring BrokerOD – Originating Depository ED – Executing Depository
ConfidentialInvestor Services
Deutsche Bank
ASEAN Post-Trade – Proposed Model
8
Executing Exchange
Sponsoring Broker (SB)
Originating Depository
EXECUTING EXCHANGE ORIGINATING EXCHANGE
Originating ACE
Originating Broker (A)
Investor A buys
Executing Clearing House /
Depository
Trade Order1Matched Trades2
Safekeeping
Shares will be held either under OD A/c OR
OD A/c Investor
Settlement Files (Gross)
1
1Matched
Trades2
Confirmation
OB (A) Account
(Note: Shares position reflected in segregated structure)
Trading
Settlement Hub
OB – Originating Broker SB – Sponsoring BrokerOD – Originating Depository ED – Executing Depository
ConfidentialInvestor Services
Deutsche Bank
•No significant regulatory change on Day 1
•Provide efficiency in cash management across Exchanges
•Better Foreign Exchange Management across Exchanges
•Better servicing model for holiday coverage
•Promote accessibility for broker-dealers to trade ASEAN securities through a single window
9
Benefit of ASEAN Link
Confidential
Deutsche Bank
Investor Services
Disclaimer
Marketing material
This document is intended for discussion purposes only and does not create any legally binding obligations on the part of Deutsche Bank AG and/or its affiliates (“DB”). Without limitation, this document does not constitute an offer, an invitation to offer or a recommendation to enter into any transaction. When making an investment decision, you should rely solely on the final documentation relating to the transaction and not the summary contained herein. DB is not acting as your financial advisor or in any other fiduciary capacity with respect to this proposed transaction. The transaction(s) or product(s) mentioned herein may not be appropriate for all investors and before entering into any transaction you should take steps to ensure that you fully understand the transaction and have made an independent assessment of the appropriateness of the transaction in the light of your own objectives and circumstances, including the possible risks and benefits of entering into such transaction. For general information regarding the nature and risks of the proposed transaction and types of financial instruments please go to HYPERLINK “http://www.globalmarkets.db.com/riskdisclosures “ www.globalmarkets.db.com/ risk disclosures. You should also consider seeking advice from your own advisers in making this assessment. If you decide to enter into a transaction with DB, you do so in reliance on your own judgment. The information contained in this document is based on material we believe to be reliable; however, we do not represent that it is accurate, current, complete, or error free. Assumptions, estimates and opinions contained in this document constitute our judgment as of the date of the document and are subject to change without notice. Any projections are based on a number of assumptions as to market conditions and there can be no guarantee that any projected results will be achieved. Past performance is not a guarantee of future results. This material was prepared by a Sales or Trading function within DB, and was not produced, reviewed or edited by the Research Department. Any opinions expressed herein may differ from the opinions expressed by other DB departments including the Research Department. Sales and Trading functions are subject to additional potential conflicts of interest which the Research Department does not face. DB may engage in transactions in a manner inconsistent with the views discussed herein. DB trades or may trade as principal in the instruments (or related derivatives) discussed herein. Sales and Trading personnel are compensated in part based on the volume of transactions effected by them. The distribution of this document and availability of these products and services in certain jurisdictions may be restricted by law. You may not distribute this document, in whole or in part, without our express written permission. DB SPECIFICALLY DISCLAIMS ALL LIABILITY FOR ANY DIRECT INDIRECT, CONSEQUENTIAL OR OTHER LOSSES OR DAMAGES INCLUDING LOSS OF PROFITS INCURRED BY YOU OR ANY THIRD PARTY THAT MAY ARISE FROM ANY RELIANCE ON THIS DOCUMENT FOR THE RELIABILTY, ACCURACY, COMPLETENESS OR TIMELINESS THEREFORE. Deutsche Bank AG, including its subsidiaries and affiliates, does not provide legal, tax or accounting advice. This communication was prepared solely in connection with the promotion or marketing, to the extent permitted by applicable law, of the transaction or matter addressed herein, and was not intended or written to be used, and cannot be used or relied upon, by any taxpayer for purposes of avoiding any U.S. federal income tax penalties. The recipient of this communication should seek advice from an independent tax advisor regarding any tax matters addressed herein based on its particular circumstances. DB is authorized under German Banking Law (competent authority: BaFin – Federal Financial Supervising Authority) and regulated by the Financial Services Authority for the conduct of UK business.
Copyright © July 2013 Deutsche Bank AG. All rights reserved.
10
Confidential
India
Maldives
Sri Lanka
NepalBhutan
BangladeshBurma Laos
Thailand
Cambodia
Brunei
Vietnam
Malaysia
Indonesia East Timor
PhilippinesHong Kong
Taiwan
South Korea
North Korea
Japan
China
ASEAN + 3 Bond Market ForumProgress
12
Australia
• Phase 3 focusing on implementation of SF1 and concluding SF2 work
• Market guide updates• Country visits• NMPG build-up
• SWIFT Involvement: Report reviews Market Guide updates NMPG buill-up
Singapore
Planned for 2014-15NMPG existing
Cross-Border Settlement Infrastructure Forum (CSIF) outcome
• CSD-RTGS linkage model• Standardisation and harmonisation of flows and data• ISO 20022
Source : (ADB) CSIF Basic Principles on establishing a regional settlement intermediary and next steps 05/05/2014
13
India
Maldives
Sri Lanka
NepalBhutan
BangladeshBurma
Laos
Thailand
Cambodia
Brunei
Vietnam
Malaysia
Indonesia East Timor
PhilippinesHong Kong
Taiwan
South Korea
North Korea
Japan
China
APAC Market Infrastructures Connected to SWIFT
14
Australia
Singapore
Most MIs connectedAll MIs connected
RTGS/CSD/CSD
RTGS/CSD/CSD
RTGS/CSD/CSD
RTGS/CSD/CSD
RTGS/CSD
RTGS/CSD/CSD
RTGS/CSD/CSD
RTGS/CSD/CSD
RTGS/CSD
RTGS/CSD/CSD
RTGS/CSD
RTGS
RTGS/CSD/CSD
RTGS
RTGS
RTGS/CSDRTGS/CSD/CSDRTGS/CSD/CSDRTGS/CSD/CSD
JP
CN
HK
TW
KR
SG
MY
PH
VN
ID
BN
KH
TH
MM
LA
AUNZINLK
MI (cash, eq, gvt)CC
15
SWIFT supporting regional integration projects
• Sharing our experience and know how
• Standardising
• Support Integration
• Deepen Domestic Market
Focus on SMIs and
participants, broadening their
connectivity, messaging and
standards
Focus on domestic
markets to become
interoperable for
regionalization
Standard infrastructure,
service provider,
communications, management & consultation
Natural role to facilitate regional
integration and harmonisation
We
By
16
ISO 20022, cross-border communicationSWIFT involved in major regional projects
Clearing & Settlement
• Standards strategy• Impact assessment• Specifications review• Development of 100 new
messages• Maintenance support for
existing messages• MyStandards• Implementation support• Testing of systems• Etc.
Clearing & Settlement
• Standards strategy• Specifications writing and
review• Community engagement• Implementation support
• Cross-border connectivity• Regional market practice
support• Local integration • Project management• MyStandards• Implementation support• Etc
17
SWIFT Funds Update
Update on Funds initiativesin Asia Pacific
SWIFT Business Forum - Funds in AP - July 2014 - Public
SWIFT Business Forum - Funds in AP - July 2014 - Public
The market
Regional insight
SWIFT Business Forum - Funds in AP - July 2014 - Public Source: EY, Global Fund Distribution, June 2014
Market insight
SWIFT Business Forum - Funds in AP - July 2014 - Public Source: EY, Global Fund Distribution, June 2014
USA
Number of x-border funds & registrations
SWIFT Business Forum - Funds in AP - July 2014 - Public Source: PWC, Benchmark your Global Funds Distribution, 2014
SWIFT Business Forum - Funds in AP - July 2014 - Public Source: PWC, ALFI Global Funds Distribution ppt, 2011
Europe still leading in funds registrationBut Asia is THE opportunity for UCITS
SWIFT Business Forum - Funds in AP - July 2014 - Public
Hubs
• Automation• Straight through Processing (STP)
SWIFT Business Forum - Funds in AP - July 2014 - Public
Trends in automation & standardisationHow has funds processing evolved
Ensuring Scalability
• Establish market practice• Agree on common language• Central processing venue (usually MI)• Common communication protocol
Opening distribution
• Agree on common best practices• Adoption of ISO standards• Use standard network, international highway• Facilitate distribution via platforms
DistributingX-border
Evo
lutio
n / T
ime
Fund PlatformsDrive by market infrastructures
• TAIWAN• HONG KONG• KOREA• AUSTRALIA• CHINA
SWIFT Business Forum - Funds in AP - July 2014 - Public
LIVE
• SINGAPORE• INDONESIA• VIETNAM
*
* Indirect SWIFT adoption via service providers: BBHi, Calastone, Euroclear
THINK…ing
Domestic X-Border
TrailerFees
AssetServicing
TransferSettle /Pay
ReconcileOrderTransformAccountOpening
Platforms functional processing coveragefor x-border distribution
SWIFT Business Forum - Funds in AP - July 2014 - Public
DistributionAgreements
FundSettle, VestimaOutsourced Outsourced
Calastone
KSD
HKMA OutsourcedOutsourced
TDCCOutsourced*
* Indirect SWIFT adoption via service providers: BBHi, Calastone, Euroclear
Covered by ISO 20022
BBHinfomediary ?
SWIFT Business Forum - Funds in AP - July 2014 - Public
Fund Passports
Why all the fuss?
SWIFT Business Forum - Funds in AP - July 2014 - Public
SWIFT Business Forum - Funds in AP - July 2014 - Public
945
SWIFT Business Forum - Funds in AP - July 2014 - Public
945Imagine an investor pool
3 times the size of the US population
million people
The number of middle class population in Asia ex-Japan by 2015
Source: PWC presentation ALFI Global Distribution Conference 2012 and CLSA Asia-Pacific Markets
30% of UCITS sales in Asia Pacific
• Replicate success of UCITS scheme – Sell funds from one country to the investors of another country– The UCITS Directive entered into force in 1988 – now UCITS V … VI– Key driver contributing to the significant development and success of
the European Investment Fund industry
• Create wealth in the region and export success– New revenue streams & keep investments in the region– The various AP ‘mutual recognition’ agreements will bring intra-
regional growth. Grow local/regional asset management business
SWIFT Business Forum - Funds in AP - July 2014 - Public
APAC Distribution Markets
SWIFT Business Forum - Funds in AP - July 2014 - Public Source: EY, Asia-Pacific fund distribution, March 2014
Fund passportingCountries involved (as of Apr 2014)
PRC-HK Mutual Recognition
Asean fund passport initiative
APEC Asia Region Fund Passport
(ARFP)
HK SG
AU
KR
TW ?
TH
MY
CN
SG
NZ
TH
PH
SWIFT Business Forum - Funds in AP - July 2014 - Public
Timeline Fund passportingAsia Pacific schemes
• Most advanced scheme
• Carries a lot of weight in the region
• Can extend to TW• Task force ongoing
with SFC and CSRC
• Recommendation out by 1H 2014
PRC-HK Mutual Recognition
• Scheme that has been discussed for the longest
• With only 3 countries could work
• Revived in reaction to CN and HK news
Asean fund passport initiative
• Project mixing domestic markets (AU, NZ) with x-border ones (KR, SG)
• Enlarged in April 2014 to include TH and PH.
• Consultation paper
APEC Asia Region Fund Passport
(ARFP)
No scheme is live yet
SWIFT Business Forum - Funds in AP - July 2014 - Public
Potential models between countries
One to one
One to many
Many to many
Country A Country B
Country A Country B
Country A Country B
SWIFT Business Forum - Funds in AP - July 2014 - Public
AP map of interactionsCountries involved (as of April 2014)
Beijing
Taipei
One to one
One to many
Many to many
Manila
SWIFT Business Forum - Funds in AP - July 2014 - Public
SWIFT Business Forum - Funds in AP - July 2014 - Public
SWIFT Funds in numbers
Messaging Coverage
• X-border flows into LU and IE funds
• Domestic market coverage
• Strong presence in Asia Pacific
Services
• From account opening to asset servicing
• Link to your payment services
• Price reporting
• 70 ISO 20022• > 150 MM funds
related messages processed/year
• Yearly double digit growth
1,000 users in > 80 countriesMarket infrastructures, Transfer Agents, Distributors,
Platforms
Funds traffic statistics> 30% growth year on year
SWIFT Business Forum - Funds in AP - July 2014 - Public
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec0
1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
7,000,000
8,000,000
9,000,000
2008 2009 2010 2011 2012 2013 2014
Thank you
42
Securities Post-Trade Initiatives
43
How SWIFT is helping and can help you
Securities Trends
ISO 20022 adoption
Corporate Action, Collateral management & C&S
Agenda
- linking to other FMIs (both horizontally and vertically)
- Internationalisation/ regionalisation initiatives
- new services (like U2A, liquidity mgt, collateral), new markets (APAC, Latin Am.)
- Geographical operational hubbing by market participants
- further standardisation and automation (from proprietary to ISO)
- scalability- Compliance cost
- increased need for high quality collateral
- better manage financial shocks – regulatory principles requiring enhanced resiliency, reliability, availability
- resiliency, reliability, availability etc
- increased need for compliance data
- cyber security
- increased efficiency and transparency
- Increased reporting and control requirement
- E.g. trade reporting, PFMIs etc
Securities Markets Trends
44
Regulatory pressure Business risk mitigation
Operational risk mitigation
Business interoperability Cost efficiency Innovation
Upward Trending FIN Messaging
SWIFT 2013 statistics 45
Americas; 21%
Asia Pacific; 13%
EMEA; 67%
Securities – Best Growing Market for 2013
46
Annual FIN Message Volume and Market Growth Securities Messages Annual Growth
47
How SWIFT is helping and can help you
Securities Trends
ISO 20022 adoption
Corporate Action, Collateral management & C&S
Agenda
ISO 20022 adoption drivers
• New initiatives– Market infrastructures– Global harmonisation & regulation – Regionalisation initiatives– Sanctions screening, anti-money laundering– Automation in specific markets, STP
• New players– Corporates, fund managers
• New technology– XML, SOA, web services
48
From early adopters to ‘followers’
DTCC, US
JASDEC, JP[Post-trade]
Euroclear
Clearstream
ANBIMA, BR
T2S, EU
CSD, LI
CSD, PL
49
CSD, EE
CSD, LT
ASX, AU
Live
Live
Global ISO 20022 Adoption by SMIs
SGX, SG[Post-trade]
JASDEC & TSE, JP
[Corp.Act]
BN
Live
CN
Live
BR, CSD
Live
KSEI, ID
VP, DK
Live
SGX, SG[Corp-Act]
Live
Live
IPFA
SEPA,EU
BR
DK
CH
FED, US
CPA, CA
IPFA
T2, EU
AU
Zengin, JP
CNAPS, CN
IN
Low-value
High-value
BOJNet, JP
CPA, CA Live
Live
Live
NZ
SG
CO
PE
Live
PG
CL
ZA
PL
BN
CNAPS, CN
SADC
UK
Global ISO 20022 Adoption by PMIs
Live
Live
The ISO 20022 adoption mApp
51
ISO 20022 adoption mApp
adoption
mApp
ISO 20022 A free IOS tablet app, that provides an overview of initiatives adopting ISO 20022 around the world
> Information provided by initiative* owners > Covers all regions & business segments> Easy to use, contribute to and maintain
Facilitating adoption and fostering dialogue
* Initiatives who plan to adopt the official ISO 20022 messages registered on www.ISO20022.org
> 80
initiatives
Which initiatives can you find in the mApp?The initiative classification
52
RegionBusiness segment
StatusMigration
type
ISO 20022 initiatives *
* Initiatives who plan to adopt the official ISO 20022 messages registered on www.ISO20022.org.
Africa Asia AustraliaEuropeNorth AmericaSouth America
CardsPaymentsSecuritiesTrade FinanceTreasury
Big BangMigrationPhased Migration
LivePlannedRoll-out/TestingUnder discussion
All of the initiatives have given their agreement to be published in the ISO 20022 adoption mApp. At this stage, more than 80 initiatives are included in the mApp. More initiatives will be added on a continuous basis.
53
How SWIFT is helping and can help you
Securities Trends
ISO 20022 adoption
Corporate Action, Collateral management & C&S
Agenda
India
Maldives
Sri Lanka
NepalBhutan
BangladeshBurma Laos
ThailandCambodia
Brunei
Vietnam
MalaysiaSingapore
Indonesia East Timor
PhilippinesHong Kong
Taiwan
South Korea
North Korea
Japan
China
APAC Securities Market Infrastructures Corporate Action
54
Australia
• SMIs looking for new revenues or solving a community problem
• Custodians in demand for golden copy solution
• SWIFT Strengths: SWIFT CA
automation track record
ISO standards knowledge
Past regional and global work
Reach
Talking aboutService life or planned
ISO 20022
India
Maldives
Sri Lanka
NepalBhutan
BangladeshBurma Laos
ThailandCambodia
Brunei
Vietnam
Malaysia
Singapore
Indonesia East Timor
PhilippinesHong Kong
Taiwan
South Korea
North Korea
Japan
China
APAC Securities Market Infrastructures Local equity clearing & settlement
55
Australia
• Technological refresh• Internationalisation• Regional integration
• SWIFT Strengths: SWIFT C&S
automation track record
ISO standards knowledge
Past regional and global work
Reach
Talking aboutLive or planned
ISO 20022
India
Maldives
Sri Lanka
NepalBhutan
BangladeshBurma Laos
Thailand
Cambodia
Brunei
Vietnam
Malaysia
Indonesia East Timor
PhilippinesHong Kong
Taiwan
South Korea
North Korea
Japan
China
APAC Securities Market Infrastructures Collateral management projects
56
Australia
• SMIs looking for new revenues or solving a community problem
• Clearstream/Euroclear• Regulation
• SWIFT Strengths: SWIFT automation
track record ISO standards
knowledge Past regional and
global work Reach
Singapore
Talking about itProject planned or life
Renewed Priority for Collateral
Needs Availability
Collateral Management
• Regulatory push – e.g. strengthen bilateral risk management, capital requirements, transparency and back-office efficiency
• Address concerns w.r.t. daily margin obligations, managing segregated accounts and potential systemic impact
• Adaptation and consolidation of IT applications and framework for interoperability. Increase STP with counterparty & custodians.
• Regulatory push – e.g. strengthen bilateral risk management, capital requirements, transparency and back-office efficiency
• Address concerns w.r.t. daily margin obligations, managing segregated accounts and potential systemic impact
• Adaptation and consolidation of IT applications and framework for interoperability. Increase STP with counterparty & custodians.
• Increase demand for high quality collateral under different legal agreements and market models (bilaterally cleared vs centrally cleared)
• Push for collateral optimization and mobility, request for collateral upgrade/transformation
• Cross product margining and settlement netting
• Increase demand for high quality collateral under different legal agreements and market models (bilaterally cleared vs centrally cleared)
• Push for collateral optimization and mobility, request for collateral upgrade/transformation
• Cross product margining and settlement netting
• Ability to deal and manage diverse counterparties: brokers, banks, custodian, clearing houses
• Definition of collateral segregation structure with clearers and 3rd party custodians for collateral protection
• Ability to deal and manage diverse counterparties: brokers, banks, custodian, clearing houses
• Definition of collateral segregation structure with clearers and 3rd party custodians for collateral protection
Operations
Funding &Liquidity
Counterparty management
SWIFT Collateral Management view
Solution Coverage
Messaging SolutionsProcesses
Collateral Management
Upstream(Margin management,
Reporting, Others)
Bilateral Collateral Management
(MTs & MXs)
X-Asset Class
X-Segment incl. CCP Collateralisation
Triparty Collateral Management
(MTs)
CSD/(I)CSD & community flows
CCP – (I)CSD flow
Downstream(Settlement,
Reconciliation, Reporting)
Settlement & Reconciliation
(MTs & MXs)
Payments Messages (cat1,2,9)
Securities Messages (Cat 5)
58
Collateral Management trends and implementations
Collateral Giver
Collateral Receiver
2. Insourcing triparty collateral management services: CETIP, ASX, Strate, Iberclear, CDS, HKMA
3. CCPs using MX ISO20022 substitution messages
1. Communication with tri party agent via established FIN messages
60
How SWIFT is helping and can help you
Securities Trends
ISO 20022 adoption
Corporate Action, Collateral management & C&S
Agenda
How SWIFT Can Help?
61
Standards, Operational Improvements
Migration and
Integration Support
Forming Connections(domestic, cross-border)
Interfaces(e.g. operational consulting, implementation, testing)
Standards Consulting(e.g. mapping, training, implementation)
After Sales
(marketing, education)
Security, Accessibility, Reliability, Resiliency, Reusability, Compliance
MI-Brokers MI-IMsMI-BanksMI-MI
LINKAGES
62
Community Building
ISO SupportStandards
Implementation
Training
EnablersAdoption assistance
User Groups
NMPG
ConnectivityS,M,L players
Close collaboration with
MI
Localising Operations
Partners
Vendors
SWIFT VAP
International and local standardised reach
Automation efficiency
Domestic competitiveness
63
Strategy Design Internal preparation Testing Go Live Operate
Business Case Solution design
Integration services and ISO 20022 ‘enterprise architecture’
Go Live assistance
More than connectivity, services
Implemen-tation
services
Testing assistance
Support Services
End-to-end project management
Training and knowledge transfer- Generic ISO 20022 courses- Initiative specific training
Business mapping
Gap analysis
New message development & registration
Impact assessment
Community consultation
and implementation
strategy
Market practice
management
Community testing
services
Strategy Design Internal preparation Testing Go Live Operate
ISO 20022 Business
Model
Supporting tools
Testing portals
Knowledge base
MBL
Standards editors
Case studies
Watch statistics
Adoption reporting (mApp)
Test cases
MyStandards
Reusable mappings
and process flows
Integration tools
64
65
ISO 20022, Post-trade, CA and CMInvolved in all major APAC SMI’s projects, examples.
Clearing & Settlement• ISO 20022 strategy• High level and detailed
gap analysis review• ISO governance support
(maintenance and new)• MyStandards• Implementation support• Trainings
Corporate action (with TSE)• Specification co-writing
and maintenance• ISO governance support• MyStandards
Clearing & Settlement
• Standards strategy• Specifications review• MyStandards• Implementation support• Community engagement
Corporate action• Specification co-writing
and maintenance• ISO governance support
Corporate action • Standards strategy• Community engagement• Specification writing and
maintenance• MyStandards
Post-trade• Standards strategy
Collateral Management• Specification co-writing
and maintenance• MyStandards
Fund & InvestmentManagers
BrokerDealers
CustodiansFund
Distributors
MarketInfrastructures(Exchange, CCP,
CSD, TR)
• Investors
• Collateral Management• Settlement & Reconciliation• Corporate Actions
• Confirmation/Matching• OTC Clearing• Collateral Management
• Clearing• Collateral Management• Settlement & Reconciliation• Corporate Actions• Trade Reporting • Collateral Management
• Settlement & Reconciliation• Corporate Actions
• CollateralManagement
• Settlement & Reconciliation
• Corporate Actions• Trade Reporting
• Clearing• Collateral Management• Settlement & Reconciliation• Corporate Actions• Trade Reporting
• Funds order Processing
• Fund price• Reconciliation• Transfers• Corporate Actions
• Funds order Processing
• Fund price• Reconciliation• Transfers
Securities Solutions According to Needs
67
68
Singapore Exchange Updates
DTCC Trade Repository Update
69
Helping firms meet regulatory requirements
70
Reporting party
Report File in DTCC format
DTCC GTRMap into
DTCC format
SSI
Back office
Data to be reported
Standards Mapping Conversion Connectivity
TMS
dsfsos
29 September-2 October 2014Boston Convention and
Exhibition Center
Back-up slides about Dubai
Conference
200+ sessions450+
speakers
Exhibition200+
exhibitors
Networking
7650+ attendees
Sibos Dubai by numbers
Who came…by region
EMEAAPACAmericas73%
11%
16%
Who came…by business focus
23% Cash managementDerivativesFXPaymentsSecurities TradeOther
17%
17%
10% 27%
4%
2%
Who came…by type of institution
Commercial BankRetail BankCentral Bank Market InfrastructureSecurities Organisa-tionsCorporatesVendorsOther
33%24%
18%
5% 9% 5%4%
2%
Open theatres
Community sessions
The conference streams
• The banking industry has made huge progress since the last crisis, but technology and political developments are posing new challenges for the future.
• Regulation still focused on the last crisis instead of averting the next. It is also a factor preventing banks from fulfilling their role of supporting the economy.
• Banking is not global while half the world’s population remains unbanked. Mobile technology is vital in this space.
• Cyber crime is increasing and banks need to address it as a risk issue, not an IT issue. Important to invest in defences.
• But, despite these common challenges, there was also much talk about growth, innovation and opportunities.
Some key messages…
Why people come to Sibos…
The amount of senior level people, and the access you have to them are second to none.
It’s a global meeting place…you meet people from the entire banking industry.
It’s networking, customer relationships, and finding out in which direction the industry is moving.
I have been coming to Sibos since 2007…and every year is a new adventure here.
We are both a client and a partner. Sibos links the two and meets the objectives of people to speak about that relationship. Sibos
keeps innovation
going strong.
dsfsos
29 September-2 October 2014Boston Convention and
Exhibition Center