S 3 umsetzung market practice aus sicht banking system anbieter m_emmenegger
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S 3 umsetzung market practice aus sicht banking system anbieter m_emmenegger

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Presentation from the Swiss Standards Forum in October 2013

Presentation from the Swiss Standards Forum in October 2013

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S 3 umsetzung market practice aus sicht banking system anbieter m_emmenegger S 3 umsetzung market practice aus sicht banking system anbieter m_emmenegger Presentation Transcript

  • Implementation of the «Swiss Investment Funds Market Practice» for SWIFT MX in the Avaloq Banking Suite October 2013 Swiss Forum for Financial Standards Avaloq Evolution AG | Allmendstrasse 140 | 8027 Zürich | Schweiz T +41 58 316 10 10 | F +41 58 316 10 19 | www.avaloq.com 1
  • Agenda  About Avaloq  Project roadmap for implementation of the Swiss Market Practice / SWIFT MX for Funds into the Avaloq Banking Suite  Specification phase  Architecture and Implementation  Testing  Examples shown in the application  Conclusion and outlook 2
  • Securities Trading & Operations Team Members Matthias Schindler Dr. Markus Emmenegger Alexander Streule Head of Securities Trading & Operations Software Engineer Securities Trading & Operations Product Manager Payment, Securities Trading & Operations Avaloq Evolution AG Avaloq Evolution AG Avaloq Evolution AG matthias.schindler@avaloq.com markus.emmenegger@avaloq.com alexander.streule@avaloq.com 3
  • Avaloq Group – an International Market Leader No. 1 World’s leading wealth management software company  100+ leading banks in 20+ countries  USD 350mn revenues in 2012  >1,400+ employees in 14 offices Product innovation     Highest level of R&D in the industry (> 50% of productrelated revenues) Full front to back integration Ready to use model bank (Avaloq Banking Reference) Half year release cycles World class delivery     100% success rate in implementing our solutions 7 going lives in the last 12 months 1,200+ certified partners, involved in 90% of Avaloq projects Avaloq e-learning with success proven online trainings Independent operation    Independent provider for ASP / BPO Global Processing Network BPO centres in Switzerland and Germany, next in UK and Luxembourg 4
  • We have a proven capability to deliver Selection of reference clients 5
  • SKSF Roadmap Early involvement Today 6
  • Avaloq SWIFT MX Funds Roadmap 2014 2013 Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Analysis and Specification Implementation Internal Tests Pilot Phase: Systems integration & parametrisation support Specification review by representatives of selected customers   Specification acceptance Early access delivery Delivery of final software package & documentation Reference implementation in Avaloq Bankung Suite (ABS) Release 3.8 Delivery for earlier releases (R3.5 and higher, downbranch) Customer projects End of Rollout to all pilot phase customers 7
  • Analysis and Specification: Structure, Basis and Tooling Structure of the Specification • Use-Cases from a users perspective • Message flow diagrams • Functional requirements • Field mapping Basis • SWIFT Document «Securities Trade for Standards MX - Message Reference Guide» • SKSF Guideline on http://portal.gefeg.com/scfs-funds-mp.htm Benefit: setr.010 reduction of the number of fields from 1274 to 70 (!) • XML schema from http://www.iso20022.org/, http://www.swift.com/mystandards/ and http://portal.gefeg.com/scfs-funds-mp.htm • Workshop with experts from our customers Tools • Java-Tool to convert XSD -> Excel Flat List • Excel (Field Mapping, Message flow diagrams) / Word / Visio (Specification) 8
  • Analysis and Specification : Challenges and Decisions Special challenge: International customer base (Swiss Market Practice vs. global standard) Decisions • Messages compliant with ISO 20022 can be read and sent - all fields are available • Only Swiss Market Practice message types are supported - no bulk messages • For generating and processing messages, only Swiss Market Practice fields are considered by Avaloq product code • Switch messages are only read and sent, no business logic in Avaloq product code • Customers may extend functionality to • Implement international requirements • Add business logic for switch messages • Implement other customer specific requirements 9
  • Specification 1: Use Cases Process bank customer order with external provider Front Office Process and execute client order as intermediary Provider Client Cancel order Supported roles: Buy-side (instructing party) Sell-side (executing party) Intermediary (combination) ABS Trading desk ABS = Avaloq Banking Suite Back office 10
  • Specification 2: Message Flow Diagrams Normal flow Client (Avaloq, Buy-side) External provider (sell-side) Cancellation Client (Buy-side) g setr.004/setr.010 g setr.004/setr.010 f setr.016 (PACK) f setr.016 (PACK) f setr.006/setr.012 g setr.011/setr.005 Provider (Avaloq) Intermediary Client (Buy-side) Intermediary (Avaloq) Provider (sell-side) g setr.004/setr.010 f setr.016 (RECE) f setr.016 (PACK) g setr.004/setr.010 f setr.017 (CANP) f setr.016 (PACK) f setr.017 (CAND) f setr.006/setr.012 f setr.006/setr.012 setr.004.001.03 setr.005.001.03 setr.006.001.03 setr.010.001.03 setr.011.001.03 setr.012.001.03 setr.016.001.03 setr.017.001.03 RedemptionOrderV03 RedemptionOrderCancellationRequestV03 RedemptionOrderConfirmationV03 SubscriptionOrderV03 SubscriptionOrderCancellationRequestV03 SubscriptionOrderConfirmationV03 OrderInstructionStatusReportV03 OrderCancellationStatusReportV03 11
  • Implementation: Structure, Basis and Tools Structure of the Implementation • No MT-MX conversion, but native creation and processing of MX messages • Use standard Avaloq architecture framework • Import XML schemas from ISO 20022 Basis for the implementation • Specification (use cases, field mapping) • SKSF guideline on http://portal.gefeg.com/scfs-funds-mp.htm • XML schemas from http://www.iso20022.org/ and http://portal.gefeg.com/scfs-funds-mp.htm Tools • AvaloqScript, PL/SQL • Avaloq Messaging Interface (AMI) • Avaloq XSD Compiler (conversion of XSD into a Data Dictionary) • Avaloq ice (Customised Eclipse) 12
  • Implementation 1: Architecture for Systems Integration Networks, Builders and Handlers Message Builder SWIFT Message Handler MT502 MT515 SWIFT Messages FIX Orders Orders Orders New.. Exe. FIX Messages setr010 ISO 20022 Messages MX ISO 20022 setr004 13
  • Implementation 2: Architecture for Systems Integration Customer specific adaptions Avaloq Order SETR010 Message Builder (standard) Customer specific code SETR010 Message Handler (standard) Handlers & Builders exist for: setr.004.001.03 setr.005.001.03 setr.006.001.03 setr.010.001.03 setr.011.001.03 setr.012.001.03 setr.016.001.03 setr.017.001.03 RedemptionOrderV03 RedemptionOrderCancellationRequestV03 RedemptionOrderConfirmationV03 SubscriptionOrderV03 SubscriptionOrderCancellationRequestV03 SubscriptionOrderConfirmationV03 OrderInstructionStatusReportV03 OrderCancellationStatusReportV03 Customer specific code 14
  • Implementation 3: Architecture for Systems Integration Builder functionality Avaloq Order 15
  • Internal Testing ABS 1: Test using«echo chamber» Buy-side (instructing party) 2: Validation using validation portal (SKSF) Sell-side (executing party) ABS = Avaloq Banking Suite 3: Insert test messages 16
  • Application Demo 17 17
  • Demo 1: Use Case „Subscription of Client Order“, Normal Flow Client (Avaloq, Buy-side) External provider (sell-side) g setr.004/setr.010 f setr.016 (PACK) f setr.006/setr.012 setr.004.001.03 setr.005.001.03 setr.006.001.03 setr.010.001.03 setr.011.001.03 setr.012.001.03 setr.016.001.03 setr.017.001.03 RedemptionOrderV03 RedemptionOrderCancellationRequestV03 RedemptionOrderConfirmationV03 SubscriptionOrderV03 SubscriptionOrderCancellationRequestV03 SubscriptionOrderConfirmationV03 OrderInstructionStatusReportV03 OrderCancellationStatusReportV03 18
  • Demo 1 Screenshot 1/3 „Subscription of Client Order“, Normal Flow 19
  • Demo 1 Screenshot 2/3 „Subscription of Client Order“, Normal Flow setr.004.001.03 setr.005.001.03 setr.006.001.03 setr.010.001.03 setr.011.001.03 setr.012.001.03 setr.016.001.03 setr.017.001.03 RedemptionOrderV03 RedemptionOrderCancellationRequestV03 RedemptionOrderConfirmationV03 SubscriptionOrderV03 SubscriptionOrderCancellationRequestV03 SubscriptionOrderConfirmationV03 OrderInstructionStatusReportV03 OrderCancellationStatusReportV03 20
  • Demo 1 Screenshot 3/3 „Subscription of Client Order“, Normal Flow 21
  • Demo 2: Use Case “Cancellation of Redemption Order” Client (Buy-side) Provider (Avaloq) g setr.004/setr.010 f setr.016 (PACK) g setr.011/setr.005 f setr.017 (CANP) f setr.017 (CAND) setr.004.001.03 setr.005.001.03 setr.006.001.03 setr.010.001.03 setr.011.001.03 setr.012.001.03 setr.016.001.03 setr.017.001.03 RedemptionOrderV03 RedemptionOrderCancellationRequestV03 RedemptionOrderConfirmationV03 SubscriptionOrderV03 SubscriptionOrderCancellationRequestV03 SubscriptionOrderConfirmationV03 OrderInstructionStatusReportV03 OrderCancellationStatusReportV03 22
  • Demo 2 Screenshot: Use Case “Cancellation of Subscription Order” setr.004.001.03 setr.005.001.03 setr.006.001.03 setr.010.001.03 setr.011.001.03 setr.012.001.03 setr.016.001.03 setr.017.001.03 RedemptionOrderV03 RedemptionOrderCancellationRequestV03 RedemptionOrderConfirmationV03 SubscriptionOrderV03 SubscriptionOrderCancellationRequestV03 SubscriptionOrderConfirmationV03 OrderInstructionStatusReportV03 OrderCancellationStatusReportV03 23
  • Summary • Avaloq is implementing SWIFT MX for funds according to the Swiss Market Practice • Close collaboration with customers • Implementation completed, internal tests in progress • Solution designed for international deployment, ready to be adapted to global, market-specific or bilateral SWIFT MX specifications Next steps • Tests with external connectivity provider (test systems integration) • Pilot implementation with one of our customers • Rollout to all customers 24
  • Thank you for your attention 25