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Latest developments in Rouble Settlements via SWIFT
Tatiana Fateeva
Director for Business Development, Banking Sector
Russia, CIS & Mongolia
2
Agenda
• Some statistics
• Rouble Settlements via
correspondent banking
• The Russian RTGS and SWIFT
Traffic patterns Russia CIS
3
Trade
Treasury
Securities
Payments
Trade
Treasury
Securities
Payments
Volumes(MMsg)
Growth(percent)
Total
Russia_CIS
2,531 1,582 26
RUB customer payments market in Russia
• Only traffic in RUB is taken into account• Only Customer payments are taken into account (MT103s)• BIC8 country & BIC8 counterparty country = Russia
4
2010
10
2010
11
2010
12
2011
01
2011
02
2011
03
2011
04
2011
05
2011
06
2011
07
0
200,000
400,000
600,000
800,000
1,000,000
1,200,000
1,400,000
1,600,000
Evolution of RUB payments in Russia (# of msgs)
Evolution of RUB-payments in Russia
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Evolution of number of messages sent by the top 4 banks per month
201010 201011 201012 201101 201102 201103 201104 201105 201106 2011070
100,000
200,000
300,000
400,000
500,000
600,000
700,000
201010 201011 201012 201101 201102 201103 201104 201105 201106 2011070
100,000
200,000
300,000
400,000
500,000
600,000
700,000
Evolution of number of messages received by the top 4 banks per month
6
Agenda
• Some statistics
• Rouble Settlements via
correspondent banking
• The Russian RTGS and SWIFT
Payments Market Practice Group
• “RUR-6 guidelines” have been worked out on how to use the ISO-Standards to do Rouble Payments
• Includes – amongst others – the MT 101, 103, 202, category 9 messages and n92, n95 & n96 messages
• Includes transliteration table (updated in April 2011)
• Currently version 6
• Available on www.rosswift.ru
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Issue(s) with RUR-6.
• They are not mandatory.
• Not all banks are using latest version, so banks have to support different versions, depending on their counterparts.
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9
How to simply create & distribute standards-related documentation?
Not everything in a new standards release is relevant to my business.
How can I easily analyse the impact of a standards release or updated market practice on ALL my systems across all departments?
Information I need is scattered between base standards, market practices , MI specifications and bilateral agreements.
It is not evident to move my community to new market practices or new standards.
Market practice definitions require a lot of reading.
The total cost for standards (maintenance and new solutions) is very high.
Standards-related issues in your institution and your community
Creating and discussing our market practices and comparing them to other ones is a lot of work.
MyStandards: New standards management tools for the community
• Manage your own standards implementation and practice
• Share this information with your correspondents
• Get updates automatically and focus on what is relevant to you
• Content is basis for interoperability services and harmonization
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MyStandards: High level components
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Collaboration environment
Market practice editor
On-line browsing
Machine-readable formats
Analytical toolsMarket
practices
Dedicated Documentation
Base standards
Leverage the community
Make it easy to definepractice / capabilitiesSimplify understanding
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Agenda
• Some statistics
• Rouble Settlements via
correspondent banking
• The Russian RTGS and SWIFT
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Message Flow Russian RTGS
CB of Russia Payments Application
ConverterCB of Russia –
ISO Formats and vice versa
SWIFT Backbone Network
SWIFT Backbone Network
CB of Russia VPN
CB of Russia VPN
Live since 19 August
2011
Current status
• Closed User Group (CUG) was created for the Russian RTGS over SWIFT
• V-shape is used
• LIVE since 19 August 2011
• 28-29 November a joint workshop on how to use SWIFT for the BESP system (Central Bank of Russia and SWIFT)
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Thank you
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