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SWIFT Business Forum
2015 in Moscow
Adopting ISO 20022: Connecting the dots
Moscow, 16 April 2015
ISO 20022
The pace of adoption is
accelerating
Business Forum, Moscow
16 April 2015
ISO 20022 adoption - context
3
200 initiatives Under discussion > planned > rollout > live
90 countries
Europe Asia Pacific
Americas Middle East & Africa
ISO 20022 Payments
Securities
Trade Services 51% Foreign Exchange
42%
4% 2% 1%
Cards
ISO 20022 adoption - context
Europe Asia Pacific
Americas
Middle East & Africa
Market
infrastructures T2S
As of 2015
Settlement & reconciliation
CSDs and NCBs communicating with T2S
CSD and NCBs
Services to customers
VP Securities DK, NSD RU, Euroclear ESES & FI
2015
TARGET2
EURO1/STEP1
High-value payment systems
Close to 1000 member banks
2017
Payments
systems in CH
All payment systems and instruments
Regional integration
Spill-over
Oversight pressure
As of
2016
ISO 20022 adoption - context
Europe Asia Pacific
Americas
Middle East & Africa
Market
infrastructures Jasdec
Live since 2014
ASX
Corporate Actions
New announcement service
AU-NPP
Real-time payments
New services to customers
2017
Brunei
New RTGS system
New services
Internationalisation
Regional integration
Live since
end 2014
Settlement & reconciliation
Live since 2014
Additional plans for post-trade with TSE
Part of ASEAN integration
ISO 20022 adoption - context
Europe Asia Pacific
Americas
Middle East & Africa
Market
infrastructures DTCC
Live since 2011
Galgo (BR)
Corporate Actions
New announcement service
CPA
All payments systems
New services to customers
Date to be confirmed
US
Business case assessment
New services
Automation
Transformation
Securities transformation
Live since 2011
Corporate Actions
Roadmap setting
Date to be confirmed
ISO 20022 adoption - context
Europe Asia Pacific
Americas
Middle East & Africa
Market
infrastructures SADC
As of 2015
Regional integration
Renewal of legacy systems
New services
13 countries in Africa
Low-value payments
Mobile-to-mobile payments
Potential securities initiatives
Other initiatives
Jordan
South-Africa
Adopting ISO 20022: speakers
• Georgiy Chirkov, Head of Section eBanking Product
Development, Unicredit
• Sergey Putyatinskiy, CIO, National Settlement Depository
• Elena Solovyeva, Global Head of Standards,ROSSWIFT
• Patrik Neutjens, ISO 20022 Programme Director, SWIFT
What are Market Infrastructures and banks telling
us?
9
Less variation,
more global
market practice
Provide a predictable
environment for
MI communities (versions, release mgt, ..)
Best practice sharing for community
adoption & implementation
1
2
3
10
Community management
Market practice
From fragmented market
practice to harmonized
and validated global and
community market
practice
Predictable
release cycle
Version manage- ment
Versions actively
managed in collaboration
with user community
Onboar-ding
Efficient community
onboarding &
readiness testing
Standardised
messaging setup
SWIFT’s community management
Powered
by MyStandards
SWIFT and ISO 20022
Efficient community
management
Resilient messaging
platform
Standards expertise
Unequalled contribution
to ISO 20022
SWIFT - the trusted source for your ISO 20022 initiative
Trusted consulting
partners for more
ISO 20022 initiatives
globally than anyone else
Only worldwide value-added network
designed specifically for ISO 20022
Highest standards of reliability,
availability and security
Selected as platform provider
for key ISO 20022 initiatives
in payments and securities
Forty years of community expertise Unique tools and established
processes to support communities
for ISO 20022
Coffee break
Moscow Business Forum Traffic trend and cost
Andre Boico
16 April 2015
Russia FIN traffic since connection in 1989
14 SWIFT – Moscow Business Forum – April 2015
?
0
10
20
30
40
50
60
70
80
90
100
1990 1995 2000 2005 2010 2014
430% growth
in 10 years
mn sent messages
2015
10%
14%
22%
10%
-2%
7% 10%
4%
10% 11%
-5%
0%
5%
10%
15%
20%
25%
-
1,000
2,000
3,000
4,000
5,000
6,00020
05
20
06
20
07
20
08
20
09
20
10
20
11
20
12
20
13
20
14
Millio
ns
SWIFT Growth
SWIFT FIN traffic growing 11% in 2014, adding another
500 Million FIN messages. Due to continuous stronger growth in Russia, the Russian share in the total SWIFT
traffic goes up to 1.7% (versus 0.7% 10 years ago).
16% 15% 19% 18%
-5%
15%
34%
21%
43%
28%
-10%
0%
10%
20%
30%
40%
50%
-
10
20
30
40
50
60
70
80
90
100
20
05
20
06
20
07
20
08
20
09
20
10
20
11
20
12
20
13
20
14
Millio
ns
Russia Growth Russia
15 SWIFT – Moscow Business Forum – April 2015 Figures are based on total yearly traffic
FIN yearly traffic evolution With an average yearly growth rate of 21% over the last 15 years, Russia
outperforms SWIFT total (growing 11% on average), EMEA region (11%) and
BRICS (16%).
0%
200%
400%
600%
800%
1000%
1200%
1400%
1600%
SWIFT total
EMEA
BRICS
Russia
16 SWIFT – Moscow Business Forum – April 2015 Figures are based on average daily traffic
2014 FIN Growth Russia outperforms BRICS and total SWIFT
-10%..0% < -10% > 0% Color coding:
Total Americas Asia-
Pacific EMEA Russia BRICS
Payments 8.6% 12.3% 11.8% 6.7% 31.4% 25.0%
Securities 15.0% 10.6% 15.2% 16.3% 17.0% 16.4%
Treasury 2.4% 4.8% 4.5% 1.3% -7.3% -0.2%
Trade -2.5% -5.5% 0.2% -4.2% 3.8% 0.3%
Total 11.0% 11.1% 12.2% 10.7% 27.7% 20.7%
FIN Average Daily volumes
Actual growth Full Year 2014 vs 2013
(*) Central and Eastern Europe: Albania, Armenia, Austria, Azerbaijan, Bosnia-Herzegovina, Bulgaria, Belarus, Switzerland, Czech Republic,
Germany, Estonia, Georgia, Croatia, Hungary, Kyrgyzstan, Kazakhstan, Liechtenstein, Lithuania, Latvia, Moldova, Montenegro, Macedonia,
Mongolia, Poland, Romania, Republic of Serbia, Russia, Slovenia, Slovakia, Tajikistan, Turkmenistan, Ukraine, Uzbekistan, Kosovo, Republic of
17 SWIFT – Moscow Business Forum – April 2015
2015 March YTD FIN Growth Off to a good start – March YTD best month ever with an average of 24.63 million
messages per day. 31 March was the first peak day of 2015 with 26,835,427
messages.
18 SWIFT – Moscow Business Forum – April 2015
PEAK DAY - 31 March 2015 26.84
18
19
20
21
22
23
24
25
26
27
Jan Feb Mar Apr May Jun Jul Aug Sept Oct Nov Dec
2013 Actuals 2014 Actuals 2015 Actuals Best month ever
Figures are based on average daily traffic
Tra
ffic
in m
illio
ns o
f m
essages –
all
mark
ets
2015 March YTD FIN Growth - Russia
19 SWIFT – Moscow Business Forum – April 2015
230
280
330
380
430
480
Jan Feb Mar Apr May Jun Jul Aug Sept Oct Nov Dec
2013 Actuals 2014 Actuals 2015 Actuals
Tra
ffic
in m
illio
ns o
f m
essages –
all
mark
ets
0
2
4
6
8
10
12
14
16
201
20
1
201
20
2
201
20
3
201
20
4
201
20
5
201
20
6
201
20
7
201
20
8
201
20
9
201
21
0
201
21
1
201
21
2
201
30
1
201
30
2
201
30
3
201
30
4
201
30
5
201
30
6
201
30
7
201
30
8
201
30
9
201
31
0
201
31
1
201
31
2
201
40
1
201
40
2
201
40
3
201
40
4
201
40
5
201
40
6
201
40
7
201
40
8
201
40
9
201
41
0
201
41
1
201
41
2
201
50
1
201
50
2
Millio
ns
Banking MI Securities MI SWIFT for Corporates Other
FileAct traffic – Monthly evolution Average daily number of Kchar
0
1,000
2,000
3,000
4,000
5,000
6,000
201
20
1
201
20
2
201
20
3
201
20
4
201
20
5
201
20
6
201
20
7
201
20
8
201
20
9
201
21
0
201
21
1
201
21
2
201
30
1
201
30
2
201
30
3
201
30
4
201
30
5
201
30
6
201
30
7
201
30
8
201
30
9
201
31
0
201
31
1
201
31
2
201
40
1
201
40
2
201
40
3
201
40
4
201
40
5
201
40
6
201
40
7
201
40
8
201
40
9
201
41
0
201
41
1
201
41
2
201
50
1
201
50
2
20
SWIFT – Moscow Business Forum – April 2015
0
500
1,000
1,500
2,000
2,500
3,000
201
20
1
201
20
2
201
20
3
201
20
4
201
20
5
201
20
6
201
20
7
201
20
8
201
20
9
201
21
0
201
21
1
201
21
2
201
30
1
201
30
2
201
30
3
201
30
4
201
30
5
201
30
6
201
30
7
201
30
8
201
30
9
201
31
0
201
31
1
201
31
2
201
40
1
201
40
2
201
40
3
201
40
4
201
40
5
201
40
6
201
40
7
201
40
8
201
40
9
201
41
0
201
41
1
201
41
2
201
50
1
201
50
2
Th
ou
sa
nd
s
Banking MI Securities MI CLS RMA Other
InterAct traffic – Monthly evolution Average daily number of messages
0
500
1,000
1,500
2,000
2,500
201
20
1
201
20
2
201
20
3
201
20
4
201
20
5
201
20
6
201
20
7
201
20
8
201
20
9
201
21
0
201
21
1
201
21
2
201
30
1
201
30
2
201
30
3
201
30
4
201
30
5
201
30
6
201
30
7
201
30
8
201
30
9
201
31
0
201
31
1
201
31
2
201
40
1
201
40
2
201
40
3
201
40
4
201
40
5
201
40
6
201
40
7
201
40
8
201
40
9
201
41
0
201
41
1
201
41
2
201
50
1
201
50
2
21
SWIFT – Moscow Business Forum – April 2015
0
10
20
30
40
50
60
70
80
90
100
Millio
ns
Over 95 million Payments per day FileAct Payments growth exceeds FIN Payment growth
(*) Estimated number based on assumptions (about file compression,
average nr of characters per transaction) validated with the MI’s
LVP (ACH)
FIN Payments (Cat 1, 2, 9 and copies)
22
SWIFT – Moscow Business Forum – April 2015
23
SWIFT – Moscow Business Forum – April 2015
Building the SWIFT network – Number of users
0
2,000
4,000
6,000
8,000
10,000
12,000
24
SWIFT – Moscow Business Forum – April 2015
Building the SWIFT network – Russia
0
20,000
40,000
60,000
80,000
100,000
120,000
140,000
160,000
180,000
0
100
200
300
400
500
600
700
Live Users # messages per user (secondary axis)
Nu
mb
er
of R
ussia
n L
ive
use
rs
# o
f m
essa
ge
s s
en
t p
er
use
r in
Ru
ssia
3933
4296
4576
3,600
3,800
4,000
4,200
4,400
4,600
4,800
2012 2013 2014
Number of Russian users and messages sent per user.
Number of
counterparties involved
in traffic sent from
Russia
25
SWIFT – Moscow Business Forum – April 2015
Building the SWIFT network – Corporate adoption # of connected corporate BIC8’s (Cumulative)
26
SWIFT – Moscow Business Forum – April 2015
Building the SWIFT network – LITE2 users
0
100
200
300
400
500
600
700
SWIFT Pricing Principles
SWIFT – Moscow Business Forum – April 2015
27
SWIFT Pricing Principles
SWIFT – Moscow Business Forum – April 2015
28
1. Designed to maximize usage
– Fixed Fee programme
– Point-to-point discount
– Intra-traffic Discount
2. Recognizes the contribution of large users
3. Be fair and transparent to all users
(eg. HSM migration, Lite2 at low cost, sanctions screening)
4. Reduce barriers to entry for smaller users
FIN Price before rebate
(EURcent / msg)
FIN Traffic
(Millions of msgs)
SWIFT committed to 30-50% price cut over 2010-2015
… and has reached the challenge one year ahead
29
FIN Price before rebate
(EURcent / msg)
FIN Traffic
(Millions of msgs)
0.20
0.13
0.11
0.06
-
0.05
0.10
0.15
0.20
0.25
2005 2010 2011 2014
30
Average price (Russia)
Euro/FIN message
-37 %
Russia benefitted from the price reductions over the years
-52 %
SWIFT Romania Business Forum * Figures are after Fixed Fee, point-to-point discount and before rebate
Traffic evolution vs Messaging cost evolution 2005 is used as base year
31
0
100
200
300
400
500
600
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
0
10
20
30
40
50
60
70
80
90
100
31%
528%
161%
100%
100%
traffic evolution (# FIN messages) unit cost evolution (2nd axis) messaging cost evolution
%
%
%
%
Traffic and Cost