Matching

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SWIFT BNL Forum 2012

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Matching

  1. 1. Matching Services Benelux Forum La Hulpe , May 24th 2012 RoadmapLife Cycle – Client Side TRADE ALLOCATE CONFIRM SETTLE Life Cycle – Market TRADE CONFIRM CLEAR SETTLE Side Internet/LITE SWIFT access OFFER Accord for Now Global ETC Securities Accord for messaging Accord for CCPLink Treasury (local Securities matching) SWIFT OFFER “Amigos” Accord 0 to 18 months (Front-End to “Bilateral FX Accord) Netting” Repository AccordRenewal SWIFT OFFER Generate Accord “Global Settlement 18 + months ETC Matching” Instructions Benelux forum May 2012
  2. 2. Accord: a family of services Same infrastructure – different service structure Treasury SecuritiesFlow model Messages exchanged between the Both parties submit messages parties, are copied to Accord. directly to Accord.Choice Individual: each party takes own Collective: both parties must decision as to how matching is done be Accord users, to obtain a (Manually, on Accord, or on local match. application)Reporting Exclusively Real-Time, in pull mode • Real time towards GUI/integration • GUI for operators • FIN-based reports at 15 • InterAct based API, for integration minutes intervals for integration in back-office applications (push mode) Benelux forum May 2012 Message types Matched in Accord Foreign Exchange & Derivatives Money Market MT 305 Foreign currency option MT 300 Foreign Exchange MT 306 Exotic foreign currency option MT 320 Fixed Loan/Deposit MT 340 Forward rate agreement MT 330 Call/Notice Loan/Deposit MT 341 Forward rate agreement settlement MT 360 Single currency interest derivatives MT 361 Cross currency interest rate swap MT 362 Interest rate swap reset / advice of payment Commodities MT 600 Commodity trade confirmation Securities MT 515 Client confirmation of purchase/sale Benelux forum May 2012
  3. 3. Accord for Treasury Single-slide overview Deal Confirmations: (MT 300,305,306,320, 330,340,341,360, 361,362,392, MT 600) Accord Subscribers (>470 in 70 countries) • Banks Accord • Brokers • Custodians SWIFT subscriber or • Fund mgrs non- subscriber • Corporates… Copies of non-SWIFT Copies of data: fax, e-mail, e-FX confirmations portals, Broker feeds, Reuters, etc. • Real-time reporting & exception handling • Integration available for various Accord Back-Office Systems • Real-time Confirmation Matching Service • Availability of >99.97% last 5 years • >90K msgs/hour observed matching capacity • Common matching rules + user-defined rules Benelux forum May 2012 • Financial Liability for Matching results Accord for Securities LCH MT548 Status ACCORD MT515 Confirm MT998 Status Confirmed Trade Chosen CCP CCP Broker MT518 Confirm AmigosTrade Euro/CCP Alternative MT515 Confirm CCPs MT998 Status X-Clear BNR CCP Broker Reduces Removes Full STP from costs of Counterparty CCP confirmation to settlement Risk settlement Benelux forum May 2012
  4. 4. Global ETC over SWIFT – ISO15022 end to end Overview Features: - Standards Re-usability BLOCK TRADE MT 513 - Downstream STP MT 514 ALLOCATION - Standard industry workflow CONFIRM MT 515 Investment MT 517 AFFIRM Broker/ models Manager Dealer - Secure, reliable, high- Global ETC availability platform - Highly scalable SETTLEMENT INX SETTLEMENT INX Benefits: CONFIRMATIONS CONFIRMATIONS STATUS STATUS STATEMENTS STATEMENTS - Simplicity - Meets ETC need Settlement - High STP Global Custodian Agent or - Low TCO CSD - Low Risk Benelux forum May 2012SWIFT’s Solution: Integrated & Flexible Increase use of SWIFT Global ETC messages Any-to-Any GETC Investment Manager Broker Normalised Data Investment Manager Transaction Broker status Amigos Workflow Brokers receive normalised Investment Manager Broker automated Accord link allocations. Link to Accord ACCORD matching Investment Manager Broker 750 Investment OMGEO Managers Oasys or CTM Broker Industry has a choice CustodianSingle portal to Investment Manager FIX see/ receive Broker instructions

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