SWIFT’s custody and asset servicing offerings include:
SWIFT’s Corporate Actions solution combines ISO 15022 messaging standards and SWIFT connectivity to enable the standardisation and automation of corporate actions communication flows between information sources, market infrastructures, local agents, global custodians and investment managers. The solution is enabling financial institutions to reduce the costs and risks associated with processing corporate actions, and to build scale for this important function. In virtually all markets, ISO is replacing proprietary standards and is now the lingua franca for corporate actions.
SMBC made the strategic decision to invest in new IT infrastructure, in line with the on-going de-materialisation project at the Japanese central securities depository (JASDEC) in 2009. This was to offer a superior, straight through processing service for business transactions on JASDEC. SWIFT standards and messaging solution helped SMBC to attract new business from overseas clients and significantly increase its securities transactions revenues. Indeed, its settlement instruction volumes on SWIFT grew by 3566% over the period 2011-2012, with five main clients in three continents.
Acting as a local custodian in Japan, SMBC uses the complete suite of SWIFT settlement and reconciliation messages in accordance with industry recommendations and global market best practices. With a combination of its own highly effective processes, based on SWIFT standards and messaging solutions, SMBC was able to attract significant new securities business with international clients. For SMBC, SWIFT was the natural choice to service broker/dealers and global custodians outside Japan.
SWIFT and SmartStream, the financial Transaction Lifecycle Management specialist, have partnered to enable financial institutions to communicate with SmartStream’s TLM OnDemand Software as a Service (SaaS) reconciliation service via SWIFT. Existing SWIFT customers can reuse their SWIFT infrastructure to use SmartStream’s service, reducing transaction breaks, operational risk and time to process transactions, while maximising their return on investment and minimising total cost of ownership (TCO).
SmartStream over SWIFT