slide 1 accord™ swift’s solution for trade confirmation matching september 2008
TRANSCRIPT
Slide 1
AccordAccord™™SWIFT’s Solution for TradeSWIFT’s Solution for TradeConfirmation MatchingConfirmation Matching
September 2008
Slide 2
AccordSubscribers (>430 in 65 countries) • Banks• Brokers • Custodians• Fund mgrs • Corporates…
Accordsubscriber or
non- subscriber
Real-time reporting & exception handling. Integration available for various Back-Office Systems.
SWIFT
Deal
Matching Confirmations on Accord single-slide overview
Confirmations: (MT300,305,306,320,
330,340,341,360, 361,362, 392;
MT 5151 ; FpML2 (for IRS, CDS)
Accord• Real-time Confirmation Matching Service • Availability of >99.97% last 5 years• >75K msgs/hour observed matching capacity• Common matching rules + user-defined rules• Financial Liability for Matching results
Copies ofconfirmations
Copies of non-SWIFT data: fax, e-mail, e-FX portals, Broker feeds,
Reuters.....
1: scheduled for 4Q 2008; will be sent directly to Accord2: scheduled for 2009
Slide 3
Archive Access (e.g.auditor)Browser based
Exception Handling using Graphical Interface
Back Office Integration using API
Accord Central Server
Accord – What? Seen from inside the bank
Accord Central Server
SIPN Gateway
Confirmations + Matching results, operator actions, history, audit trail…for live trades.
Long Term Archive of matching history and audit tail (10 years) on line
Slide 4
Accord – BenefitsReducing Costs and Risk Low Total Cost of Ownership (TCO) thanks to ASP model
– Total outsourcing to SWIFT (installation, upgrades, operations, testing, back-ups, capacity planning, etc. )–Maximised Operator Efficiency (powerful GUI for exception handling)– Full multi-entity support: distributed, concentrated, hubbed– Automated feed into Treasury Management Systems STP– Audit trail remotely accessible (e.g. from headquarters), for all branches– Tier-based pay-per-user pricing, with traffic aggregation and brick pricing
Risk Reduction– Ultra-reliable matching results. Matched items with financial guarantee.– Identity of matching results guaranteed between subscribers– 100% Fraud-resistant– Operator role profiles for segregation of Duties, 4-eyes principle etc.– Very high uptime– Operated for you since >15 years, by the people that built it, on two sites
in different continents–Wherever you are, assistance from analysts seeing your problem, is only
a phone call away
Slide 5
Accord – Upcoming functionalityContinued expansion of functionality and coverage Recent and upcoming functionality
– Specific Tools for Supervisors and occasional users (Dashboard, and Easy Search) – available since 2007
– Management Reports – “end of day/shift”: available since 2007– Management Reports – “end of month”: planned end 2008– Continued enhancement of exception handling toolkit
Coverage in Asset Classes – available and planned– Available: FX, Vanilla and exotic FX options, Deposits, call/notice deposits,
FRAs + resets, Interest Rate Swaps (IRS), reset/advice of payment for IRS– Under development: FpML interest rate swaps, crossmatching of IRS in
FpML with MT 360, Credit Default Swaps (single name, Index, Tranche)– Planned for 2009 and later: Commodities (metals), Commodity Options,
Equity Swaps, Swaptions, Total Return Swaps
Slide 6
Accord – EvolutionGoing beyond matching, and beyond treasury
E-trading platform integration– First Platform: Bloomberg POMS– Various phases to bring customer total outsourcing of:
– confirmation generation and submission to Counterparty (FX, Options, OTC derivatives)
– Matching, and importing matching results
– Generate and transmit instructions for gross settlement (to Nostro bank), or for allocations (respective Custodians)
Prime Broker/Executing broker matching of MT 515
– Various phases will bring: – Matching PB and EB view on trades by hedge funds (equity, fixed income)
– Allocations processing
– Generation and transmission of settlement instructions
Slide 7
TERMINAL
Solution description
Buy-side OMS
Matching
Order captureOrder execution
+ execution report
Block trade
confirmation
Block allocation
Prime brokers / Custodians
Allocation
Notification
Generation
Receive FX confirmation
Return block trade match results (API)
Receive allocation details
Decompose block trade
according to allocationsGenerate FX notification
FX notifications
Settlement results
Notification
storage
Sell-side OMSFX Execution
Return alloc. results
Bloomberg blotter update
Settlement results