Financial Market services

Enhanced regulatory demands, increased regionalisation, and new technologies are driving macro-level market shifts

Financial market macro-level shifts

Since the financial crisis, significant macro-level changes have moved the financial markets. Every link of the transaction chain feels the effects. Financial Market Infrastructures (FMIs) sit at the heart of their market-participant communities and must respond to these needs.

Firstly, the demands of enhanced regulations, including tighter oversight, the need for efficient use of liquidity and collateral need for trade reporting, and a clear imperative to enhance infrastructure resilience.

Secondly, there has been a structural shift toward regional harmonisation, with examples in Europe, Latin America, Africa and Asia Pacific. A common standard, such as ISO 20022, will allow the rationalisation of multiple formats, support cross-border transactions and reduce inherent inter-market friction. Progressive strides toward regionalisation are leading to market harmonisation, interoperability and integrated economies.

Finally, markets have shifted to accommodate new technologies. With the ubiquity of mobile technology and the internet, end customers expect a 24/7/365, real-time experience. This is resetting expectations for both the financial institutions and the underlying market infrastructures that support these communities.

MI Forum

The Market Infrastructure (MI) Forum highlights industry experts’ insights

Real-time Payments

Read our white paper on the global adoption of real-time retail payments systems

Resilience

Read our white paper on reducing risk and increasing resilience in RTGS payment systems

Responding to a changing landscape

  • Deliver reliable, secure, efficient services, with high volumes of transactions
  • Respond to market and regulatory pressures, all whilst minimising risk
  • Provide cost-effective solutions to financial institution clients

Financial market infrastructures must, at extreme scale, deliver secure, reliable, efficient and cost-effective services that successfully process financial transactions for an entire community, whilst responding the shifting market landscape and operating within a defined cost-basis.

Whilst steady and consistent delivery of their fiduciary responsibilities, at minimal risk, remains paramount, financial market infrastructures must also respond to the shifting market and support their entire community.

Our solutions

Real-time Payments

Peer-to-peer clearing for real-time payments

With the demand for real-time payments, SWIFT is developing infrastructure components for a distributed real-time payments clearing for Australia. Scheduled to go live in 2017, the underlying technology has the potential to be re-deployed in other markets.

Global Financial Messaging

Secure, standardised messaging

In the light of increased cyber threats, SWIFT provides secure, standardised messaging that links the FMI with their respective community of members, customers and counterparties – both domestic and cross-border.

Payments messaging

Supports high-value RTGS and low-value ACH business flows: customer and institutional credit and debit transfers, interbank payments processing, liquidity management and report management.

Securities messaging

Supports numerous CSD and CCP business flows: clearing and settlement, securities reconciliation, collateral management, corporate actions, netting, regulatory trade reporting and cash and liquidity management.

Copy Services

The service enables the sender of a message, or file, to automatically trigger a copy to be sent to a third party for processing or authorisation, for example, a central bank. It supports payments, treasury and securities transactions.

Resilience

Market Infrastructure Resiliency Service (MIRS)

MIRS is a generic RTGS system that provides operational and business continuity to RTGS operators in case of failure. MIRS acts on behalf of the RTGS and helps payment MIs comply with CPMI-IOSCO principles.

SWIFT for ISO 20022

ISO 20022 Standards Tools

MyStandards is a web platform that supports the management of global standards and market practice. It allows FMIs to create, maintain, document, publish, share, compare and consume ISO 20022 and significantly reduces implementation costs.

ISO 20022 Consulting and Training

As communities plan their move to ISO 20022, SWIFT has a range of consulting services that support the migration process, including ISO 20022 impact assessment.

ISO 20022 Interfaces, Integration Tools and Connectors

All of SWIFT’s interfaces, integration products, conversion tools and connectors are fully compatible with ISO 20022 messaging products.

Our commitment to market infrastructures and their communities means

  • world-class operational excellence and security
  • access to 230+ global market infrastructures
  • drive for standardisation, harmonisation and interoperability