Beruflich Dokumente
Kultur Dokumente
Steven Palstermans
Head of Russia, CIS & Mongolia
Central Bank of the Russian Federation, 27 June 2011
Agenda
Payment
processing
High-value payment MI
Participants
Direct Participants
Risk
management
ACH
(CSM)
Indirect Participants
Low-value payment MI
Participants
Payment
reporting
Direct Participants
Corporates
Service
administration
Operational
Statistical
Regulatory
Consumers
3
3
North America
Canada
US (TCH)
Western Europe
Denmark
Eurozone (EBAEURO1/STEP1
&TARGET2)
Norway
Sweden
Switzerland
UK
Africa
Angola
Algeria
Central African States (BEAC)
Ghana
Kenya
Mauritius
Morocco
Sierra Leone
South Africa
Tanzania
Tunisia
Zambia
Zimbabwe
West African States (BCEAO)
Botswana
Egypt
Lesotho
Namibia
Swaziland
Uganda
Comesa
Asia Pacific
Australia
Fiji
Hong Kong
New Zealand
Philippines
Singapore
Sri Lanka
Thailand
Type of system
RTGS
RTGS
RTGS
RTGS
Status
Implementation (Y-Copy)
Implementation (Y-Copy)
Implementation (Y-Copy)
Implementation (Y-Copy)
RTGS
Implementation (Y-Copy)
RTGS
RTGS
Implementation (Y-Copy)
Implementation (Y-Copy)
RTGS
Implementation (Y-Copy)
Regional RTGS
Implementation
RTGS
Implementation
RTGS
Implementation (Y-Copy)
RTGS
Implementation (Y-Copy)
Regional RTGS
Discussion
5
Africa
Ghana
South Africa
Tanzania
Zimbabwe
Payment Instruction
Authorisation request
SWIFTNet
1
3
- Copy
Authorisation response
Bank B
Bank A
4
2
5
5
3
6
6
SWIFT Interface
Central
Bank
Central
RTGS
application
Ancillary
systems
Standards
MX , ISO 20022 compliant messages
SWIFT supports the co-existence of the two main industry
standards MT and MX.
As stated, MT messages are the commonly used standard
message today for HVPS.
MX Messages have been created by SWIFT as a set of
standards
Covering payment initiation, inter-bank settlement and cash
management
ISO20022 compliant catering for high and low-value, single and
multiple, and urgent and non-urgent payments.
Standards
MX/XML in the context of an RTGS
The two key categories of SWIFT MX messages to be used within
the context of an RTGS willing to use ISO 20022 are :
Payments Clearing & Settlement PACS messages, which are
ISO20022 approved
Cash Management CAMT messages which are ISO 20022 approved
An industry group CGI(Common Global Implementation) is in the process of finalizing
usage rules.
Participant B
Internal
Payment system
SWIFTNet
InterAct
V-topology
SWIFT interface
Participant A
SWIFT interface
Payment Infrastructure
Payment processing
Bank A
Bank B
Copy model
InterAct Copy (MX) for single transaction
exchange using MX/ISO PACS
Participant B
Internal
Payment system
SWIFTNet
Copy
SWIFT interface
Participant A
Payment
message
Settlement
request
Payment Infrastructure
Authorisation/
refusal
SWIFT interface
Payment processing
Bank A
Payment message
(settled)
Bank B
10
Participant A,B,C
Internal
Payment system
SWIFTNet
FileAct/InterAct
SWIFT interface
Ancillary system
SWIFT interface
Payment Infrastructure
Payment processing
Bank A
Bank B
In series
Participant A,B,C
Internal
Payment system
SWIFTNet
InterAct
V-topology
SWIFT interface
Ancillary system
SWIFT interface
Payment Infrastructure
Payment processing
Bank A
Bank B
11
Participant B
Internal
Payment system
SWIFTNet
FileAct
SWIFT interface
Participant A
SWIFT interface
Payment Infrastructure
Payment processing
Bank A
Bank B
Copy model
FileAct Copy (MT/MX) for multiple
transactions exchange using MX/ISO PACS
Participant B
Internal
Payment system
SWIFTNet
Copy
SWIFT interface
Participant A
Payment
message
Settlement
request
Payment Infrastructure
Authorisation/
refusal
SWIFT interface
Payment processing
Bank A
Payment message
(settled)
Bank B
12
Browse information
Browse, provides secure user-to-application
browsing to access the market
infrastructures to monitor & control functions
Internal
Payment system
SWIFT interface
Participant B
SWIFTNet
Participant A
InterAct real-time
information exchange
and control
Secure instructions
InterAct, to support interactive monitoring &
control functions with MX/CAMT message
Browse online
Info query
SWIFT interface
Payment processing
Payment
Bank B
Bank A
Infrastructure
(HVP & LVP)
13
Report management
SWIFTNet Interact (MX) to support the sending
of balance report and statement messages on
an individual basis
Participant B
Internal
Payment system
SWIFTNet
SWIFT interface
Participant A
FileAct for
reporting
Payment
Infrastructure
(HVP & LVP)
InterAct for
statements
SWIFT interface
Payment processing
Bank A
Bank B
14
Participant B
Internal
Payment system
SWIFTNet
SWIFT interface
Participant A
InterAct for
Profile Mgt
Browse online
Info query
FileAct for
reporting
Payment
Infrastructure
(HVP & LVP)
SWIFT interface
Payment processing
Bank A
Bank B
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Integration
Connectivity options
Direct connection
SWIFT
software
VPN
Network partners
Indirect connection
Secure Internet
or VPN
SWIFT
software
Service Bureau
or Bank
Alliance Lite
Secure Internet
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Consulting
Implementation
Project
Management
Training
Customer support
Messaging
FIN,
InterAct
FileAct,
Browse
Copy
Security
CUG
PKI
HSM
RMA
Delivery
notification
Multi-site
Standards
Integration
MT messages
MX (ISO20022)
Market practices
Alliance Interfaces
Integration tools
Alliance Connect
Bronze/Silver/Gold
17
Advisory services
Analysis/mapping
Formal subsets
End-user testing
Training
Current state
ISO 15022 like proprietary messages
Complex flows; many actors
SWIFT role
Enable transition to ISO 20022
Benefit to SWIFT
Influence an entire market
20
Receive
PSMS
Non-stock exchange
transactions (DVP)
Non-stock exchange
transactions
(non-DVP)
Stock exchange
transactions (DVP)
Trading
Clearing/Pre-settlement
Settlement/registration
Cash/collateral Mgt
JDCC
TSE
participant
TSE
participant
Clearing
Member
Clearing
Member
Depository
Member
Depository
Member
Payment
bank
Cash settlement
proprietary messages
BETS
Tokyo Stock
Exchange
JSCC
BoJ
JDCC
Broker/
dealers
Investors
BETS
Depository
Member
Depository
Member
Depository
Member
PSMS
BETS
Depository
Member
Payment
bank
Depository
Member
Same as above
BETS
PSMS
Deliverer
Broker/
dealer
Asset
Manager
Receiver
Depository
Member
JDCC
(HOKURI)
BoJ
BoJ
JDCC
Receiver
Deliverer
21
22
Harmonisation analysis
Analysis showing where harmonisation makes sense, by reducing the number of messages to
gain efficiency (business processes) and save costs (less to implement).
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Project boundary
Description of business
3
process and sub processes
Use cases
Activity diagrams
24
25
TARGET2-Securities
A multifaceted, long-term, SWIFT Standards consultancy relationship
SCOPE OF
ISO 20022
MESSAGES
WORK REQUIRED,
BY
Business Areas
4CB
SWIFT
Standards
Existing
standard
Pillar II
New
Standard
Pillar III
T2S-specific
Maintenance (Regular
procedure involving
BVGs, industry
consultations, etc.)
---Development, by
SWIFT Standards
---Development, by
4CB, with SWIFT
Standards support
Developed
in the course
of T2S
Consultancy (extensive
project management and
business)
SWIFT Standards
involvement
Consultancy
(limited business) &
Development
Development
Consultancy
(extensive technical)
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27
Change Management
Reusable Content
Customization
Market Practice
Goal:
Reduce industry TCO by
200 million EUR / year
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SWIFT
8 Novinsky boulevard
121099 Moscow
Russia
T
Steven.palstermans@swift.com
www.swift.com
or + 32 478 40 30 23
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