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SWIFT for Securities: Another record year in the capital markets

SWIFT for Securities: Another record year in the capital markets

12 December 2018

Volumes continue double-digit growth

SWIFT Securities market

2018 has proved to be another busy year for securities messages exchanged on the SWIFT network, with double digit growth in traffic (11.5% YTD) including two record peak days, where over 17 million messages were exchanged.

Securities messages (ISO 15022, ISO 20022) carried over the SWIFT network now contribute 54% towards the total traffic on SWIFT, and the post-trade market activity generates at least 30% of the total payments traffic.

Over 6,000 securities users, including all major asset managers (accounting for 90% of all assets under management), broker-dealers, local and global custodians and central securities depositories (CSDs), now trust SWIFT to support them with their post-trade activities.

Looking forward

Going into 2019 and with an eye on 2020, SWIFT is continuing to serve our securities customers across a number of key strands, building off the back of recent additions to the SWIFT product portfolio, as well as continuing to adapt to changes in the market:

  • SWIFT gpi – The traceability, speed and transparency of payments provided by SWIFT global payments innovation (gpi) are delivering great value to our securities community. Customers are now able to predict the receipt of payments over SWIFT with greater accuracy, reducing their counterparty risk and improving their cash management to support more efficient use of collateral. As new features of gpi continue to be rolled out, SWIFT will continue to bring them to our securities community to generate further value from gpi. 
  • APIs - To realise the full potential of APIs, post-trade institutions will need to invest in data governance, data quality and aggregation, security at all levels, communication and data standards, and real time provisioning capabilities. We are therefore building API-based capabilities around specific use cases, so that we are positioned to serve new business flows and support the securities community in the evolution of the API economy.
  • FCC – With the growing regulatory scrutiny on securities and FX transactions, and the important payments activity of post-trade market participants, our range of Financial Crime Compliance solutions, including screening, compliance monitoring and KYC, will help capital markets participants remain compliant in an increasingly complex landscape.
  • Data – Building on our data offerings such as Watch for Securities, we are continuing to evolve our data strategy, using our rich bank of data to deliver richer products and services in a secure way.
  • CSP - SWIFT’s focus on cyber threats via our Customer Security Programme (CSP) has been embraced by our securities community. Given the complexity of capital markets and the high value and predictability of some securities transactions, we are continuing our work to roll out CSP and collaborate with our partners such as ISSA to preserve the integrity of the capital markets.

Keeping up momentum

It’s been another busy year for the securities market, with traffic continuing its trend of growth and increasing volumes of messages exchanged in emerging markets.

Juliette Kennel, Head of Securities and FX, SWIFT

“We can’t afford to be complacent, though. The financial industry is going through a phase of change triggered by many factors that include the need to comply with regulation, fear of cyber-crime and the opportunity of using new technologies such as APIs or DLT.

“These challenges mean we must continue our efforts in 2019 and keep an eye on the future to ensure that we keep delivering value to our securities customers.”

2018 in numbers
  • 54% of total traffic over SWIFT network
  • 30% of overall payments traffic
  • Over 6000 securities users
  • 11.5% YTD growth
  • Two record peak days, with 17million messages exchanged