Market Infrastructures are at the core of SWIFT’s 2020 strategy. CSDs are undergoing fundamental transformation, triggered by new business models such as T2S, new regulatory requirements, regionalised initiatives such as MILA or SADC and the adoption of ISO 20022. SWIFT is enhancing its value proposition for CSDs and their participants by developing a community framework, which includes standards, products and services combined with competitive commercial conditions. Join this session to hear about what we can bring to answer your challenges in this space.
The role of Real Time Gross Settlement (RTGS) systems remains vital for financial stability. RTGS systems were and remain central to the economy, processing high-value payments but also settling payments for ACHs, CSDs and new RTP solutions. With the rise of cyber threats, best-in-class resilience and operational excellence feature more than ever on the radar of any RTGS operator. Discover how SWIFT’s services and solutions support high value payments settlement systems in meeting resilience recommendations set by industry organisations such as BIS.
By the time Sibos Geneva takes place, 12 out of the 21 CSDs migrating to T2S will have completed their transition, taking with them half the settlement volumes of Europe. By Sibos Toronto next year, the Central Securities Depositories Regulation (CSDR) will also be law, giving issuers and investors the opportunity to freely choose any CSD in Europe. With national monopolies being broken up, CSDs and custodian banks find themselves at a crucial decision-point. How will they plan their future strategy? What does it take to implement it ?
The banking community is under increasing pressure to push towards 24/7 instant payments. But the investment to adapt IT applications and infrastructures is substantial. So, the question remains the same - how will these costs be recovered? What is the business case to ‘go instant’? Join this session to hear a cross-section of views from banks and market infrastructures who have had success and encountered pitfalls on this path towards instant payments.
Distributed ledger technology (DLT) has become one of the hottest topics being discussed by financial market infrastructures. Some argue that it hails the end of securities market infrastructures, others that there will be no revolution, just a natural evolution of what already exists. Join this session to hear market experts share their views on how DLT could be used to enhance by central securities depositaries (CSDs) and potentially change core CSD services such as transaction settlement and issuance.
Until recently ICSD's were the only name in the game managing Funds Hubs. Today alternatives are beginning to emerge. Some CSD's have started to offer competing alternatives and the ECB has also indicated that it is looking at including funds settlements in T2S. What are the drivers for this new trend? What are the obstacles that need to be overcome and will this be a serious challenger for the transfer agency model?
Domestic real-time retail payments systems are offering reach and ubiquity in many smaller communities through indirect memberships and service hubs. In larger communities, such as the U.S. and Euro-zone, multiple operators are positioning their solutions. But the desire (or obligation within a single currency zone) to interoperate comes with new challenges: how can operators guarantee finality to each other within seconds? Can instant payment confirmations be returned instantly through multiple players? What is the role banks can play in ensuring interoperability?
Some markets are responding to the real-time payments trend by engaging with their stakeholders in strategic thinking to determine how best to move towards a single, multi-functional platform for all payments, not just domestic payments. What makes the business case to justify a major overhaul? What are the benefits, challenges and risks in creating a single, fast, hybrid infrastructure? And what role will new technology and new entrants play in this re-invention?
A functioning Single Market stimulates competition and trade, improves efficiency, raises quality, and helps cut costs. Complemented by the Capital Markets Union, the European Commission’s vision is to create deeper, and more integrated, capital markets which aims to lower costs and makes the market more resilient. How far are we from achieving this vision? What is the role of Financial Market Infrastructures? What will be the tangible benefits for market participants and end-users?
In a time of growing cyber threats, ensuring infrastructures are resilient is top of mind for markets worldwide. The June 2016 CPMI-IOSCO report underscores the need for financial market infrastructures (FMIs) to “anticipate, withstand, contain and rapidly recover from disruption caused by a cyber-attack”, and highlights the need for formal governance, identification, protection, detection, response and recovery processes.