SWIFT for Securities Market Infrastructures
Delivering secure, reliable, efficient and cost effective messaging to allow securities market infrastructures to process transactions, mitigate risk, and increase operational efficiency
Responding to structural shifts within the securities market infrastructure landscape
Securities market infrastructures (SMIs), which include Central Securities Depositories (CSDs), Securities Settlement Systems (SSS), Trade Repositories (TR) and Central Counterparties (CCPs), act as critical service providers.
SMIs are facing a multitude of challenges, including regional market integration, the need to become more cost-efficient, offer new services, adopt new standards and replace legacy systems. In addition they have to contend with the impact of market and regulatory reforms, which demands a more efficient use of liquidity and collateral, and new reporting requirements.
Alongside these changes, the emergence of ISO 20022 continues, with the standard rapidly becoming the de-facto choice of market infrastructures worldwide. This brings the additional challenge of ensuring a harmonised global approached to adoption of the standard.
These factors, coupled with the changing geopolitical landscape, growing cyber risks and the extensive IT dependencies result in the need for SMIs to demonstrate higher levels of risk management, transparency and operational resilience.
Securities Market Infrastructures have to work. Consistently and reliably.
- Ensure market and securities integrity and regulatory compliance
- Manage risks and costs
- Adapt to regionalisation
SMIs must deliver secure, reliable, efficient and cost-effective clearing, settlement and securities safekeeping for their community. SMIs are impacted by fast evolving and potentially disruptive technologies, by direct and indirect regulation, the need to control costs, and the ongoing evolution in standards.
SWIFT’s expertise in innovative technologies, messaging and standards enables us to partner effectively with FMIs to help address these challenges and find cost effective and reliable solutions.
Global Securities Messaging
Securities Clearing and Settlement
To support clearing and settlement for both Delivery-vs-Payment (DVP) and Free-of-Payment (FoP) between CSDs, ICSDs, SSS’ and their participants.
Securities Reconciliation and Reporting
To support position / portfolio reconciliation, statements of holdings and statements of transactions.
For bilateral and tri-party collateral transactions, CCP clearing models and OTC derivatives, Repos and Securities Lending. Messages include collateral instruction, claim, proposal, substitution, exposure statement, status and processing advice.
For the notification and instruction of asset servicing events and the full range of distribution, redemption and voluntary corporate actions.
Cash and Liquidity Management
Cash and liquidity management for liabilities, fees and liquidity obligations for securities trades covering credit transfer and direct debit, advice of cash movements and Nostro reconciliation.
Regulatory Trade Reporting
To allow the community to comply with regulations for the reporting of OTC Derivatives to a Trade Repository by providing reporting services, with unique identification via the LEI.
SWIFT's Value-Added Network (VAN) Solution for T2S provides secure exchange of information in ISO 20022 formats between T2S participants and the T2S platform.
T2S Back-office Integration
SWIFT’s optional products and services allow for a complete T2S connectivity solution, including the integration layer with the back-office.
Interoperability and Harmonisation
SWIFT is a leading provider for connectivity and interoperability services in the European clearing and settlement environment. We also have a strategic commitment to support ISO 20022 harmonisation across the market.
SMI Services and Consulting
Industry expertise, tailored to your needs
SWIFT has developed a complete portfolio of consulting and other operational services to help meet the needs of market infrastructures and their communities.
We offer business and technical consulting across the entire lifecycle of the project - from requirements gathering, business flow design, translation and conversion, testing and community migration services through to operational excellence.
ISO 20022 Expertise
SWIFT has specialist ISO 20022 tools and services, aimed at MIs and their communities that have decided to migrate to the standard, e.g. impact assessment, solution design, ‘start sets’, change management and an enhanced MyStandards platform.
SWIFT is uniquely placed to support securities market infrastructures and their communities
- Secure and resilient connectivity and messaging
- Continuous focus on reducing TCO for MIs and their communities
- ISO 15022 and 20022 expertise and standardisation capabilities