Sibos is an annual conference, exhibition and networking
event organised by SWIFT for the global financial
industry.
In just one week, some 7,000 decision makers and topic
experts from financial institutions, market infrastructures,
multinational corporations, and technology partners
gather in one place to do business and collectively shape
the future of payments, securities, cash management and
trade.
Attendance Sibos 2014 Boston
Americas
2,766
38%
APAC
1,060
14%
EMEA
3,512
48%
Total:
144
countries
By gender:
5,149 1,919
Male Female
Trade Services
16,34%
Securities
13,30%
Payments
34,21%
Not selected
12,05%
Derivatives
2,37%
FX/MM
3,41%
Cash Management
18,33%
Sales
15,74%
Product Management
7,25%
Not selected
12,05%
Marketing
7,96%
Business Development /
Strategy
2,37%
Customer Services
3,05%
Compliance / Risk Management
2,73%
Primary
Area of Responsibility
Primary
Business Focus
Standards
0,75%
Operations
9,06%
Innovation
2,02%
Information Technology
8,48%
Attendance Sibos 2014 Boston
Sibos 2014 – Market Infrastructure Forum Where the world market infrastructures met their peers
25
953 2
Speakers
Registrations
Days
Christine Cumming
Federal Reserve
Bank US
“Cyber security is a clear example of the need for collaboration across MIs”
Dr Alberto
Giovannini
“ “We need to be open to different models – alliances vs competition”
Phil Kenworthy
Bank of England
“The conversation on recovery and resolution is really only just started”
Tom Zschach
CLS
“Current innovation is around real time payments and collateral products”
CSD update to AMEDA – 201410 – nal
CSDs are at the core of SWIFT presence in securities markets
7
Status and way forward
Status
CSDs
• Market infrastructures (CSDs, ICSDs and SSSs)
• Communities (domestic and international)
Status
• Connections
• Usage
Strategy
• Market trends
• Grow messaging
• Expand portfolio towards CSDs and communities
CSD update to AMEDA – 201410 – nal
CSDs are critical for SWIFT activity
8
Usage growing up faster than in payment markets
Products
& Services
Messaging
30 % of FIN Cat 5 >50 % of IA
Reach
90 % of OECD
markets
Connected to 79 CSDs
• Strong in top and mature markets
• Maximum reach in Europe
• Still opportunities in Latam, APAC, Africa and Middle East
• Market share : 6 to 8 %
domestic and 15 %
globally
• Domestic settlement flows
concentrated in EMEA
• 2014 ramp up in US and
JP
• CSDs use SWIFT
services a lot less than
PMIs
• Concentrated in top
end/mature
• ISO 20022 opportunity
CSD update to AMEDA – 201410 – nal
SWIFT Footprint : a very good reach
9
90 % of OECD countries’ CSDs are connected
Not
Connected < 5 % 5 to 25 % 25%
SWIFT messaging market share in volume
CSD update to AMEDA – 201410 – nal
In your region :
- South Africa Strate
- Zimbabwe
-
CSDs’ market drivers
10
Under pressure to perform
Evolving
market
model
BAU
Pressures
Risk
Management
Drive
market
changes
CSD
Drivers
• Regional projects : T2S, ASEAN,
MILA
• Evolving links : CCPs, TRs, new
hubs with other MIS
• New functions : collateral, funds,
investor/issuer CSDs
• Increased and new competition
• CSDs become a
change engine
• Need to make
their community
evolve
• Move to ISO
20022
• Unquestionable resilience and
operational excellence
• Regulation : CPMI-IOSCO & regionals
• Strong measures for risk management
• Compliance
• Little bandwith
(< 100 staff)
• Continued
pressure to cut
costs (internal
and for
community)
CSD update to AMEDA – 201410 – nal
How do market infrastructures use SWIFT ?
11
Inventory
Valu
es :
part
of
gen
era
l p
ort
folio
used
in
sp
ecif
ic c
ases o
nly
under
explo
ration –
mig
ht
be u
sed b
y S
WIF
T a
lready
Core Community
Management
Operational
Risk Resilience
Messaging
IA, FA,
WebAccess
Readiness
Portal
Messaging
FIN
MyStandards
Support
services
Traffic recovery
services
Security
Management
Dashboard
Specific
messaging built
Y-copy & MI channel
Interface
& integration
Community
readiness and
testing
MIRS
Health checks
Infrastructure
Security
Assessment
Operational
Excellence
Assessment
Central
application &
operating
Set up as
community
Specific MI
connector
Tri-party
incident
resolution
Capacity
assessment
Community
on-boarding
Disaster
Recovery
Cold starts
24/7
operations
Standards
definition
Business
intelligence
& ref data
BI reporting to
MI &
FIN-inform
Connectivity
contingency
services
Business
continuity
Site take- over
Lifeline
Recovery drill &
stress test
support
Community
Monitoring
Dashboard
ISO 20022
CSD update to AMEDA – 201410 – nal 12
• A major trend in securities markets with the CSDs taking a leading
role
• SWIFT will not force any migration but rather support each
community and Mi in their project
o Messaging tools ( IA S&F)
o Standards tools : MyStandards, Readiness Portal
o Technical components ( IPLA… )
• At SIBOS, SWIFT was asked by the commmunity to take a more
leading role in the deployment of ISO 20022 to ensure coherence
between the different initiatives
o MyStandards is a key collaborative platform to ensure ISO
20022 implementations are aligned between different markets
CSDs are taking a leading role