Securities post trade initiatives, Alexandre Kech, SWIFT

Securities Stream9 July 2014

Your host:

Alexandre Kech, Director, Securities Market Infrastructure, SWIFT

2

Securities Markets Trends

ASEAN Regional Securities Initiatives

3

Confidential

Investor ServicesDeutsche Bank

ASEAN Post Trade Settlement

July 2014

ConfidentialInvestor Services

Deutsche Bank

Agenda

5

1 ASEAN Trade Link

2 ASEAN Post-Trade – Current Model

3 ASEAN Post-Trade – Proposed Model

4 ASEAN Post-Trade – Benefits

Confidential

Deutsche Bank

Investor Services

ASEAN Trade Link Developments

Overview

6

Source: Asia Etrader Q3 2012

ASEAN 2015 Vision

— Seeds were sown during the 12th ASEAN Summit in January 2007, where ASEAN leaders affirmed their commitment to accelerate integration and trade into and amongst the community

— Goals: (1) Promoting ASEAN as an asset class (2) Lower funding costs for listed companies (3) Improving trading efficiency and lower trading cost locally and abroad

Definition

— A platform designed to link the various national exchanges in ASEAN

— First step to develop a single market access for ASEAN capital markets

— Aims to cover 6 countries, 7 exchanges, >3,600 companies, and 540 million people

Progress till date

— BMB, SET, and SGX are currently the only exchanges on the ASEAN link (Together, they represent more than two-thirds of the USD 2 trillion market capitalization of the ASEAN exchanges)

— PSE expected to join in 2015

— Exchanges appoint Deutsche Bank as Sole settlement Bank in April 2014.

IndonesiaIDX

MalaysiaBMB

PhilippinesPSE

SingaporeSGX

ThailandSET

Vietnam HOSE & HSE…..


Deutsche Bank

Executing Exchange

ASEAN Post-Trade – Current Model

7

Sponsoring Broker (SB)

Originating Broker’s

Local Bank

EXECUTING EXCHANGE ORIGINATING EXCHANGE

Originating ACE

Originating Broker (OB)

(A)

Investor A buys

Executing Clearing House

Trading

Trade Order1Matched Trades2

Trades executed3 Pre-settlement files4

Funding for settlement5

Executing Depositary

Shares will be held either under OB A/c OR

OB A/c Investor

Settlement Files (Gross)

6

1

1

OB – Originating Broker SB – Sponsoring BrokerOD – Originating Depository ED – Executing Depository


Deutsche Bank

ASEAN Post-Trade – Proposed Model

8

Executing Exchange

Sponsoring Broker (SB)

Originating Depository

EXECUTING EXCHANGE ORIGINATING EXCHANGE

Originating ACE

Originating Broker (A)

Investor A buys

Executing Clearing House /

Depository

Trade Order1Matched Trades2

Safekeeping

Shares will be held either under OD A/c OR

OD A/c Investor

Settlement Files (Gross)

1

1Matched

Trades2

Confirmation

OB (A) Account

(Note: Shares position reflected in segregated structure)

Trading

Settlement Hub

OB – Originating Broker SB – Sponsoring BrokerOD – Originating Depository ED – Executing Depository


Deutsche Bank

•No significant regulatory change on Day 1

•Provide efficiency in cash management across Exchanges

•Better Foreign Exchange Management across Exchanges

•Better servicing model for holiday coverage

•Promote accessibility for broker-dealers to trade ASEAN securities through a single window

9

Benefit of ASEAN Link

Confidential

Deutsche Bank

Investor Services

Disclaimer

Marketing material

This document is intended for discussion purposes only and does not create any legally binding obligations on the part of Deutsche Bank AG and/or its affiliates (“DB”). Without limitation, this document does not constitute an offer, an invitation to offer or a recommendation to enter into any transaction. When making an investment decision, you should rely solely on the final documentation relating to the transaction and not the summary contained herein. DB is not acting as your financial advisor or in any other fiduciary capacity with respect to this proposed transaction. The transaction(s) or product(s) mentioned herein may not be appropriate for all investors and before entering into any transaction you should take steps to ensure that you fully understand the transaction and have made an independent assessment of the appropriateness of the transaction in the light of your own objectives and circumstances, including the possible risks and benefits of entering into such transaction. For general information regarding the nature and risks of the proposed transaction and types of financial instruments please go to HYPERLINK “http://www.globalmarkets.db.com/riskdisclosures “ www.globalmarkets.db.com/ risk disclosures. You should also consider seeking advice from your own advisers in making this assessment. If you decide to enter into a transaction with DB, you do so in reliance on your own judgment. The information contained in this document is based on material we believe to be reliable; however, we do not represent that it is accurate, current, complete, or error free. Assumptions, estimates and opinions contained in this document constitute our judgment as of the date of the document and are subject to change without notice. Any projections are based on a number of assumptions as to market conditions and there can be no guarantee that any projected results will be achieved. Past performance is not a guarantee of future results. This material was prepared by a Sales or Trading function within DB, and was not produced, reviewed or edited by the Research Department. Any opinions expressed herein may differ from the opinions expressed by other DB departments including the Research Department. Sales and Trading functions are subject to additional potential conflicts of interest which the Research Department does not face. DB may engage in transactions in a manner inconsistent with the views discussed herein. DB trades or may trade as principal in the instruments (or related derivatives) discussed herein. Sales and Trading personnel are compensated in part based on the volume of transactions effected by them. The distribution of this document and availability of these products and services in certain jurisdictions may be restricted by law. You may not distribute this document, in whole or in part, without our express written permission. DB SPECIFICALLY DISCLAIMS ALL LIABILITY FOR ANY DIRECT INDIRECT, CONSEQUENTIAL OR OTHER LOSSES OR DAMAGES INCLUDING LOSS OF PROFITS INCURRED BY YOU OR ANY THIRD PARTY THAT MAY ARISE FROM ANY RELIANCE ON THIS DOCUMENT FOR THE RELIABILTY, ACCURACY, COMPLETENESS OR TIMELINESS THEREFORE. Deutsche Bank AG, including its subsidiaries and affiliates, does not provide legal, tax or accounting advice. This communication was prepared solely in connection with the promotion or marketing, to the extent permitted by applicable law, of the transaction or matter addressed herein, and was not intended or written to be used, and cannot be used or relied upon, by any taxpayer for purposes of avoiding any U.S. federal income tax penalties. The recipient of this communication should seek advice from an independent tax advisor regarding any tax matters addressed herein based on its particular circumstances. DB is authorized under German Banking Law (competent authority: BaFin – Federal Financial Supervising Authority) and regulated by the Financial Services Authority for the conduct of UK business.

Copyright © July 2013 Deutsche Bank AG. All rights reserved.

10

Confidential

India

Maldives

Sri Lanka

NepalBhutan

BangladeshBurma Laos

Thailand

Cambodia

Brunei

Vietnam

Malaysia

Indonesia East Timor

PhilippinesHong Kong

Taiwan

South Korea

North Korea

Japan

China

ASEAN + 3 Bond Market ForumProgress

12

Australia

• Phase 3 focusing on implementation of SF1 and concluding SF2 work

• Market guide updates• Country visits• NMPG build-up

• SWIFT Involvement: Report reviews Market Guide updates NMPG buill-up

Singapore

Planned for 2014-15NMPG existing

Cross-Border Settlement Infrastructure Forum (CSIF) outcome

• CSD-RTGS linkage model• Standardisation and harmonisation of flows and data• ISO 20022

Source : (ADB) CSIF Basic Principles on establishing a regional settlement intermediary and next steps 05/05/2014

13

India

Maldives

Sri Lanka

NepalBhutan

BangladeshBurma

Laos

Thailand

Cambodia

Brunei

Vietnam

Malaysia



Taiwan

South Korea

North Korea

Japan

China

APAC Market Infrastructures Connected to SWIFT

14

Australia

Singapore

Most MIs connectedAll MIs connected

RTGS/CSD/CSD

RTGS/CSD/CSD

RTGS/CSD/CSD

RTGS/CSD/CSD

RTGS/CSD

RTGS/CSD/CSD

RTGS/CSD/CSD

RTGS/CSD/CSD

RTGS/CSD

RTGS/CSD/CSD

RTGS/CSD

RTGS

RTGS/CSD/CSD

RTGS

RTGS

RTGS/CSDRTGS/CSD/CSDRTGS/CSD/CSDRTGS/CSD/CSD

JP

CN

HK

TW

KR

SG

MY

PH

VN

ID

BN

KH

TH

MM

LA

AUNZINLK

MI (cash, eq, gvt)CC

15

SWIFT supporting regional integration projects

• Sharing our experience and know how

• Standardising

• Support Integration

• Deepen Domestic Market

Focus on SMIs and

participants, broadening their

connectivity, messaging and

standards

Focus on domestic

markets to become

interoperable for

regionalization

Standard infrastructure,

service provider,

communications, management & consultation

Natural role to facilitate regional

integration and harmonisation

We

By

16

ISO 20022, cross-border communicationSWIFT involved in major regional projects

Clearing & Settlement

• Standards strategy• Impact assessment• Specifications review• Development of 100 new

messages• Maintenance support for

existing messages• MyStandards• Implementation support• Testing of systems• Etc.


• Standards strategy• Specifications writing and

review• Community engagement• Implementation support

• Cross-border connectivity• Regional market practice

support• Local integration • Project management• MyStandards• Implementation support• Etc

17

SWIFT Funds Update

Update on Funds initiativesin Asia Pacific

SWIFT Business Forum - Funds in AP - July 2014 - Public


The market

Regional insight

SWIFT Business Forum - Funds in AP - July 2014 - Public Source: EY, Global Fund Distribution, June 2014

Market insight

SWIFT Business Forum - Funds in AP - July 2014 - Public Source: EY, Global Fund Distribution, June 2014

USA

Number of x-border funds & registrations

SWIFT Business Forum - Funds in AP - July 2014 - Public Source: PWC, Benchmark your Global Funds Distribution, 2014

SWIFT Business Forum - Funds in AP - July 2014 - Public Source: PWC, ALFI Global Funds Distribution ppt, 2011

Europe still leading in funds registrationBut Asia is THE opportunity for UCITS


Hubs

• Automation• Straight through Processing (STP)


Trends in automation & standardisationHow has funds processing evolved

Ensuring Scalability

• Establish market practice• Agree on common language• Central processing venue (usually MI)• Common communication protocol

Opening distribution

• Agree on common best practices• Adoption of ISO standards• Use standard network, international highway• Facilitate distribution via platforms

DistributingX-border

Evo

lutio

n / T

ime

Fund PlatformsDrive by market infrastructures

• TAIWAN• HONG KONG• KOREA• AUSTRALIA• CHINA


LIVE

• SINGAPORE• INDONESIA• VIETNAM

*

* Indirect SWIFT adoption via service providers: BBHi, Calastone, Euroclear

THINK…ing

Domestic X-Border

TrailerFees

AssetServicing

TransferSettle /Pay

ReconcileOrderTransformAccountOpening

Platforms functional processing coveragefor x-border distribution


DistributionAgreements

FundSettle, VestimaOutsourced Outsourced

Calastone

KSD

HKMA OutsourcedOutsourced

TDCCOutsourced*

* Indirect SWIFT adoption via service providers: BBHi, Calastone, Euroclear

Covered by ISO 20022

BBHinfomediary ?


Fund Passports

Why all the fuss?



945


945Imagine an investor pool

3 times the size of the US population

million people

The number of middle class population in Asia ex-Japan by 2015

Source: PWC presentation ALFI Global Distribution Conference 2012 and CLSA Asia-Pacific Markets

30% of UCITS sales in Asia Pacific

• Replicate success of UCITS scheme – Sell funds from one country to the investors of another country– The UCITS Directive entered into force in 1988 – now UCITS V … VI– Key driver contributing to the significant development and success of

the European Investment Fund industry

• Create wealth in the region and export success– New revenue streams & keep investments in the region– The various AP ‘mutual recognition’ agreements will bring intra-

regional growth. Grow local/regional asset management business


APAC Distribution Markets

SWIFT Business Forum - Funds in AP - July 2014 - Public Source: EY, Asia-Pacific fund distribution, March 2014

Fund passportingCountries involved (as of Apr 2014)

PRC-HK Mutual Recognition

Asean fund passport initiative

APEC Asia Region Fund Passport

(ARFP)

HK SG

AU

KR

TW ?

TH

MY

CN

SG

NZ

TH

PH


Timeline Fund passportingAsia Pacific schemes

• Most advanced scheme

• Carries a lot of weight in the region

• Can extend to TW• Task force ongoing

with SFC and CSRC

• Recommendation out by 1H 2014

PRC-HK Mutual Recognition

• Scheme that has been discussed for the longest

• With only 3 countries could work

• Revived in reaction to CN and HK news

Asean fund passport initiative

• Project mixing domestic markets (AU, NZ) with x-border ones (KR, SG)

• Enlarged in April 2014 to include TH and PH.

• Consultation paper

APEC Asia Region Fund Passport

(ARFP)

No scheme is live yet


Potential models between countries

One to one

One to many

Many to many

Country A Country B

Country A Country B

Country A Country B


AP map of interactionsCountries involved (as of April 2014)

Beijing

Taipei

One to one

One to many

Many to many

Manila



SWIFT Funds in numbers

Messaging Coverage

• X-border flows into LU and IE funds

• Domestic market coverage

• Strong presence in Asia Pacific

Services

• From account opening to asset servicing

• Link to your payment services

• Price reporting

• 70 ISO 20022• > 150 MM funds

related messages processed/year

• Yearly double digit growth

1,000 users in > 80 countriesMarket infrastructures, Transfer Agents, Distributors,

Platforms

Funds traffic statistics> 30% growth year on year


Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec0

1,000,000

2,000,000

3,000,000

4,000,000

5,000,000

6,000,000

7,000,000

8,000,000

9,000,000

2008 2009 2010 2011 2012 2013 2014

Thank you

42

Securities Post-Trade Initiatives

43

How SWIFT is helping and can help you

Securities Trends

ISO 20022 adoption

Corporate Action, Collateral management & C&S

Agenda

- linking to other FMIs (both horizontally and vertically)

- Internationalisation/ regionalisation initiatives

- new services (like U2A, liquidity mgt, collateral), new markets (APAC, Latin Am.)

- Geographical operational hubbing by market participants

- further standardisation and automation (from proprietary to ISO)

- scalability- Compliance cost

- increased need for high quality collateral

- better manage financial shocks – regulatory principles requiring enhanced resiliency, reliability, availability

- resiliency, reliability, availability etc

- increased need for compliance data

- cyber security

- increased efficiency and transparency

- Increased reporting and control requirement

- E.g. trade reporting, PFMIs etc

Securities Markets Trends

44

Regulatory pressure Business risk mitigation

Operational risk mitigation

Business interoperability Cost efficiency Innovation

Upward Trending FIN Messaging

SWIFT 2013 statistics 45

Americas; 21%

Asia Pacific; 13%

EMEA; 67%

Securities – Best Growing Market for 2013

46

Annual FIN Message Volume and Market Growth Securities Messages Annual Growth

47


Securities Trends

ISO 20022 adoption


Agenda

ISO 20022 adoption drivers

• New initiatives– Market infrastructures– Global harmonisation & regulation – Regionalisation initiatives– Sanctions screening, anti-money laundering– Automation in specific markets, STP

• New players– Corporates, fund managers

• New technology– XML, SOA, web services

48

From early adopters to ‘followers’

DTCC, US

JASDEC, JP[Post-trade]

Euroclear

Clearstream

ANBIMA, BR

T2S, EU

CSD, LI

CSD, PL

49

CSD, EE

CSD, LT

ASX, AU

Live

Live

Global ISO 20022 Adoption by SMIs

SGX, SG[Post-trade]

JASDEC & TSE, JP

[Corp.Act]

BN

Live

CN

Live

BR, CSD

Live

KSEI, ID

VP, DK

Live

SGX, SG[Corp-Act]

Live

Live

IPFA

SEPA,EU

BR

DK

CH

FED, US

CPA, CA

IPFA

T2, EU

AU

Zengin, JP

CNAPS, CN

IN

Low-value

High-value

BOJNet, JP

CPA, CA Live

Live

Live

NZ

SG

CO

PE

Live

PG

CL

ZA

PL

BN

CNAPS, CN

SADC

UK

Global ISO 20022 Adoption by PMIs

Live

Live

The ISO 20022 adoption mApp

51

ISO 20022 adoption mApp

adoption

mApp

ISO 20022 A free IOS tablet app, that provides an overview of initiatives adopting ISO 20022 around the world

> Information provided by initiative* owners > Covers all regions & business segments> Easy to use, contribute to and maintain

Facilitating adoption and fostering dialogue

* Initiatives who plan to adopt the official ISO 20022 messages registered on www.ISO20022.org

> 80

initiatives

Which initiatives can you find in the mApp?The initiative classification

52

RegionBusiness segment

StatusMigration

type

ISO 20022 initiatives *

* Initiatives who plan to adopt the official ISO 20022 messages registered on www.ISO20022.org.

Africa Asia AustraliaEuropeNorth AmericaSouth America

CardsPaymentsSecuritiesTrade FinanceTreasury

Big BangMigrationPhased Migration

LivePlannedRoll-out/TestingUnder discussion

All of the initiatives have given their agreement to be published in the ISO 20022 adoption mApp. At this stage, more than 80 initiatives are included in the mApp. More initiatives will be added on a continuous basis.

53


Securities Trends

ISO 20022 adoption


Agenda

India

Maldives

Sri Lanka

NepalBhutan


ThailandCambodia

Brunei

Vietnam

MalaysiaSingapore



Taiwan

South Korea

North Korea

Japan

China

APAC Securities Market Infrastructures Corporate Action

54

Australia

• SMIs looking for new revenues or solving a community problem

• Custodians in demand for golden copy solution

• SWIFT Strengths: SWIFT CA

automation track record

ISO standards knowledge

Past regional and global work

Reach

Talking aboutService life or planned

ISO 20022

India

Maldives

Sri Lanka

NepalBhutan


ThailandCambodia

Brunei

Vietnam

Malaysia

Singapore



Taiwan

South Korea

North Korea

Japan

China

APAC Securities Market Infrastructures Local equity clearing & settlement

55

Australia

• Technological refresh• Internationalisation• Regional integration

• SWIFT Strengths: SWIFT C&S

automation track record

ISO standards knowledge

Past regional and global work

Reach

Talking aboutLive or planned

ISO 20022

India

Maldives

Sri Lanka

NepalBhutan


Thailand

Cambodia

Brunei

Vietnam

Malaysia



Taiwan

South Korea

North Korea

Japan

China

APAC Securities Market Infrastructures Collateral management projects

56

Australia

• SMIs looking for new revenues or solving a community problem

• Clearstream/Euroclear• Regulation

• SWIFT Strengths: SWIFT automation

track record ISO standards

knowledge Past regional and

global work Reach

Singapore

Talking about itProject planned or life

Renewed Priority for Collateral

Needs Availability

Collateral Management

• Regulatory push – e.g. strengthen bilateral risk management, capital requirements, transparency and back-office efficiency

• Address concerns w.r.t. daily margin obligations, managing segregated accounts and potential systemic impact

• Adaptation and consolidation of IT applications and framework for interoperability. Increase STP with counterparty & custodians.

• Regulatory push – e.g. strengthen bilateral risk management, capital requirements, transparency and back-office efficiency

• Address concerns w.r.t. daily margin obligations, managing segregated accounts and potential systemic impact

• Adaptation and consolidation of IT applications and framework for interoperability. Increase STP with counterparty & custodians.

• Increase demand for high quality collateral under different legal agreements and market models (bilaterally cleared vs centrally cleared)

• Push for collateral optimization and mobility, request for collateral upgrade/transformation

• Cross product margining and settlement netting

• Increase demand for high quality collateral under different legal agreements and market models (bilaterally cleared vs centrally cleared)

• Push for collateral optimization and mobility, request for collateral upgrade/transformation

• Cross product margining and settlement netting

• Ability to deal and manage diverse counterparties: brokers, banks, custodian, clearing houses

• Definition of collateral segregation structure with clearers and 3rd party custodians for collateral protection

• Ability to deal and manage diverse counterparties: brokers, banks, custodian, clearing houses

• Definition of collateral segregation structure with clearers and 3rd party custodians for collateral protection

Operations

Funding &Liquidity

Counterparty management

SWIFT Collateral Management view

Solution Coverage

Messaging SolutionsProcesses

Collateral Management

Upstream(Margin management,

Reporting, Others)

Bilateral Collateral Management

(MTs & MXs)

X-Asset Class

X-Segment incl. CCP Collateralisation

Triparty Collateral Management

(MTs)

CSD/(I)CSD & community flows

CCP – (I)CSD flow

Downstream(Settlement,

Reconciliation, Reporting)

Settlement & Reconciliation

(MTs & MXs)

Payments Messages (cat1,2,9)

Securities Messages (Cat 5)

58

Collateral Management trends and implementations

Collateral Giver

Collateral Receiver

2. Insourcing triparty collateral management services: CETIP, ASX, Strate, Iberclear, CDS, HKMA

3. CCPs using MX ISO20022 substitution messages

1. Communication with tri party agent via established FIN messages

60


Securities Trends

ISO 20022 adoption


Agenda

How SWIFT Can Help?

61

Standards, Operational Improvements

Migration and

Integration Support

Forming Connections(domestic, cross-border)

Interfaces(e.g. operational consulting, implementation, testing)

Standards Consulting(e.g. mapping, training, implementation)

After Sales

(marketing, education)

Security, Accessibility, Reliability, Resiliency, Reusability, Compliance

MI-Brokers MI-IMsMI-BanksMI-MI

LINKAGES

62

Community Building

ISO SupportStandards

Implementation

Training

EnablersAdoption assistance

User Groups

NMPG

ConnectivityS,M,L players

Close collaboration with

MI

Localising Operations

Partners

Vendors

SWIFT VAP

International and local standardised reach

Automation efficiency

Domestic competitiveness

63

Strategy Design Internal preparation Testing Go Live Operate

Business Case Solution design

Integration services and ISO 20022 ‘enterprise architecture’

Go Live assistance

More than connectivity, services

Implemen-tation

services

Testing assistance

Support Services

End-to-end project management

Training and knowledge transfer- Generic ISO 20022 courses- Initiative specific training

Business mapping

Gap analysis

New message development & registration

Impact assessment

Community consultation

and implementation

strategy

Market practice

management

Community testing

services

Strategy Design Internal preparation Testing Go Live Operate

ISO 20022 Business

Model

Supporting tools

Testing portals

Knowledge base

MBL

Standards editors

Case studies

Watch statistics

Adoption reporting (mApp)

Test cases

MyStandards

Reusable mappings

and process flows

Integration tools

64

65

ISO 20022, Post-trade, CA and CMInvolved in all major APAC SMI’s projects, examples.

Clearing & Settlement• ISO 20022 strategy• High level and detailed

gap analysis review• ISO governance support

(maintenance and new)• MyStandards• Implementation support• Trainings

Corporate action (with TSE)• Specification co-writing

and maintenance• ISO governance support• MyStandards


• Standards strategy• Specifications review• MyStandards• Implementation support• Community engagement

Corporate action• Specification co-writing

and maintenance• ISO governance support

Corporate action • Standards strategy• Community engagement• Specification writing and

maintenance• MyStandards

Post-trade• Standards strategy

Collateral Management• Specification co-writing

and maintenance• MyStandards

Fund & InvestmentManagers

BrokerDealers

CustodiansFund

Distributors

MarketInfrastructures(Exchange, CCP,

CSD, TR)

• Investors

• Collateral Management• Settlement & Reconciliation• Corporate Actions

• Confirmation/Matching• OTC Clearing• Collateral Management

• Clearing• Collateral Management• Settlement & Reconciliation• Corporate Actions• Trade Reporting • Collateral Management

• Settlement & Reconciliation• Corporate Actions

• CollateralManagement

• Settlement & Reconciliation

• Corporate Actions• Trade Reporting

• Clearing• Collateral Management• Settlement & Reconciliation• Corporate Actions• Trade Reporting

• Funds order Processing

• Fund price• Reconciliation• Transfers• Corporate Actions

• Funds order Processing

• Fund price• Reconciliation• Transfers

Securities Solutions According to Needs

68

Singapore Exchange Updates

DTCC Trade Repository Update

69

Helping firms meet regulatory requirements

70

Reporting party

Report File in DTCC format

DTCC GTRMap into

DTCC format

SSI

Back office

Data to be reported

Standards Mapping Conversion Connectivity

TMS

dsfsos

29 September-2 October 2014Boston Convention and

Exhibition Center

Back-up slides about Dubai

Conference

200+ sessions450+

speakers

Exhibition200+

exhibitors

Networking

7650+ attendees

Sibos Dubai by numbers

Who came…by region

EMEAAPACAmericas73%

11%

16%

Who came…by business focus

23% Cash managementDerivativesFXPaymentsSecurities TradeOther

17%

17%

10% 27%

4%

2%

Who came…by type of institution

Commercial BankRetail BankCentral Bank Market InfrastructureSecurities Organisa-tionsCorporatesVendorsOther

33%24%

18%

5% 9% 5%4%

2%

Open theatres

Community sessions

The conference streams

• The banking industry has made huge progress since the last crisis, but technology and political developments are posing new challenges for the future.

• Regulation still focused on the last crisis instead of averting the next. It is also a factor preventing banks from fulfilling their role of supporting the economy.

• Banking is not global while half the world’s population remains unbanked. Mobile technology is vital in this space.

• Cyber crime is increasing and banks need to address it as a risk issue, not an IT issue. Important to invest in defences.

• But, despite these common challenges, there was also much talk about growth, innovation and opportunities.

Some key messages…

Why people come to Sibos…

The amount of senior level people, and the access you have to them are second to none.

It’s a global meeting place…you meet people from the entire banking industry.

It’s networking, customer relationships, and finding out in which direction the industry is moving.

I have been coming to Sibos since 2007…and every year is a new adventure here.

We are both a client and a partner. Sibos links the two and meets the objectives of people to speak about that relationship. Sibos

keeps innovation

going strong.

dsfsos

29 September-2 October 2014Boston Convention and

Exhibition Center

Securities post trade initiatives, Alexandre Kech, SWIFT

Presentations & Public Speaking

Transcript of Securities post trade initiatives, Alexandre Kech, SWIFT