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Preparing for the future with Financial Markets Infrastructures
Alain Raes
Chief Executive, Asia Pacific & EMEA
Indonesia is the largest economy in ASEAN,
accounts for 36% of the total GDP
Data source: IMF 2014 GDP & UN GDP 2013
Indonesia is the 17th
largest economy (IMF
2014)
the biggest economy in
ASEAN
36% of total ASEAN GDP
6+% annual GDP growth
Safe, reliable, robust, secure Financial Markets
Infrastructures is key for future growth SWIFT Business Forum Indonesia 2015
2000
1995
2005
2014
2 . 8 8 m
m e s s a g e s
Indonesia’s growth in numbers
6 . 2 8 m
m e s s a g e s
8 . 2 5 m
m e s s a g e s
>>> Increased by 118%
<<< Increased by 32%
2 0 . 4 5 m
m e s s a g e s
>>> Increased by 148%
Data source: SWIFT Data
SWIFT Business Forum Indonesia 2015
Strong growth in Indonesia
Growth evolution
(*) Base year: 2010 (100) Data source: SWIFT Data
SWIFT is …
A
co-operative
organisation
serving the
financial
industry
A
provider of
highly secure
Financial
Messaging
services
The
Financial
Standardisation
body
10,000 + customers spread over 212 countries
A financial
Services
company
SWIFT Business Forum Indonesia 2015
SWIFT’s Governance Model
• Member driven
• Transparency in decision making
• Overseen by Central Banks
Approach
• Confidence we have right process
• Collective wisdom
• Peace of mind
Benefits
6 SWIFT Business Forum Indonesia 2015
1,000+
Corporates
+25 billion
financial
messages
per year
25 million+
peak day
messages
11,000
IT changes
per year
99.999%
availability
+ 100
million
peak day
batched
transaction
10,000+
Financial
Institutions
SWIFT Business Forum Indonesia 2015
SWIFT scale and reach …
100+ MI
connected
globally
Australia
Right now in Asia Pacific
SWIFT Business Forum Indonesia 2015
Low-Value
Payments
2 ACH
1 RT-RPS
New KL office
with 150+
employees (with
plan to grow to
400) to support
the region
Focus on
ASEAN (30% of
APAC business)
High-Value
Payments
17 RTGS on
SWIFT
Dedicated CCC
in HK and Help
Desk in HK & KL
to support local
ASEAN
customers
Strong footprint
in APAC includes
standards,
consultants,
market experts,
help desk,
developers
MI Compliance Core
SWIFT will continue to serve Indonesia in
• Standards
• Messaging
• Platform
• Payment Market
Infrastructure
• Securities Market
Infrastructure
• Sanction Screening
• Sanction Testing
• Compliance Analytics
• KYC
SWIFT Business Forum Indonesia 2015
Standards
Platform
SWIFT’s core messaging service Financial messaging, enabled by platform and standards
Messaging FIN
InterAct
FileAct
Principles for Financial Market
Infrastructures (PFMIs)
High Value Payment Systems
Low Value Payment Systems
Central Counterparties
Central Securities Depositories
Trade Repositories
Foster financial stability
Limit systemic
risk
Increase safety
Support greater
efficiency
• Published by CPSS-IOSCO
• 24 principles
• Issued for consultation in 2011
• To be applied December 2012
Critical Service Providers
"With these new principles, authorities have a
good basis on which to ensure a safe and
stable financial infrastructure. It is essential
that authorities adopt the principles, and FMIs
observe them, as soon as possible". - Paul
Tucker, Deputy Governor, Financial Stability,
Bank of England and CPSS Chairman
13
SWIFT provides an end-to-end solution
offering to Market Infrastructure initiatives
SWIFT Business Forum Indonesia 2015
Complete
Messaging
Solution
Secure & Resilient
Network and
Connectivity
International
Standards
Expertise
End-to-end solution
with lower cost
community approach
• Messaging Topology
• Reporting & Liquidity
Management
• Flexible Connectivity
solutions
• Resiliency
Participant
Network
• Messaging Security
• MT/MX Expertise
• ISO Enablement
• PMI Project & Delivery
Expertise
• End-to-end solution for
community
• Consultancy/Support
• Re-use Infrastructure
• Community Approach &
Reach
80+ SMI
64 countries
Securities Market Infrastructures Live on SWIFT
Africa
Egypt
Kenya
South Africa
Zimbabwe
Nigeria
Asia Pacific
Australia
China
Hong Kong
India
Indonesia
Japan
Korea
New Zealand
Singapore
Sri Lanka
Thailand
Central & Eastern Europe
Armenia
Bulgaria
Croatia
Czech Republic
Hungary
Kazakhstan
Poland
Romania
Russian Federation
Slovakia
Slovenia
Ukraine
North America
Canada
USA
Central & Latin America
Argentina
Brazil
Chile
Mexico
Ecuador
Uruguay
Western Europe
Denmark
Estonia
Latvia
Lithuania
Norway
Sweden
Switzerland
United Kingdom
Eurozone
Austria
Belgium
Finland
France
Germany
Greece
Ireland
Italy
Luxemburg
Netherlands
Portugal
Spain
Cyprus
Malta
Middle East
Dubai
Israel
Kuwait
Lebanon
Qatar
Turkey
Status YTD 2014
Legend Size Count
< 10,000 msgs S 23
10,000 - 1,000,000 msgs M 20
1,000,000 - 10, 000,000 msgs L 13
>10, 000,000 msgs XL 8
Countries’ SMI is connected but currently no securities traffic
Taking considerations of all services, i.e. FIN, IA, FA
SWIFT Business Forum Indonesia 2015
Payments Market Infrastructures Globally there are 76 RTGS live on SWIFT
76 HVP systems (>240 Million payments/year in 2014)
29 LVP systems (>20 Billion payments/year in 2014)
2000+ banks in 90+ countries
Central & Eastern Europe
Albania
Azerbaijan
Bosnia & Herzegovina
Bulgaria
Croatia
Hungary
Romania
Russia Latvia
Poland
Serbia
North America
Canada
Central & Latin America
Bahamas
Barbados
Chile
CMCA
Colombia (service bureau)
Dominican Rep.
ECCB
El Salvador
Guatemala
Honduras
Trinidad & Tobago
Venezuela
Western Europe
Denmark
Iceland
Norway
Sweden
Switzerland
UK
Eurozone
Target 2
EBA Clearing (2 HVP, 1 LVP)
Austria
Belgium
Germany
Greece
Italy (2 LVP)
Spain
Ireland
The Netherlands
Middle East
Lebanon
Bahrain
Israel
Jordan
Kuwait
Palestine
Qatar
Angola
Algeria
Botswana
BEAC
COMESA
Egypt
Gambia
Ghana
Kenya
Lesotho
Mauritius
Morocco
Namibia
Nigeria
Sierra Leone
South Africa
SADC
Swaziland
Tanzania
Tunisia
Uganda
Zambia
Zimbabwe
BCEAO
Status 2014
HVP only
LVP only
Both HVP and LVP
Global
IPFA
Eurogiro
Africa
Asia Pacific - LIVE
Australia
Fiji
Hong Kong
Macao
New Zealand
Philippines
Singapore
Sri Lanka
Thailand
Taiwan (USD & RMB)
Papua New Guinea
Brunei
Asia Pacific - NEW
India (2015)
Malaysia (2016)
Australia (2017)
SWIFT Business Forum Indonesia 2015
Development
Financial Crime Compliance services, tools
and roadmap
Exploration Live Qualification
Standards
Sanctions list
management
service
Data
repositories KYC Registry
Traffic analysis Compliance Analytics
FATF 16 information quality
Quality
assurance
Sanctions Testing
(testing / tuning of transaction &
client systems)
AML testing &
tuning
Processing
services
Client / Name screening
Sanctions
Screening
Traffic
Restriction
(RMA)
Sanctions KYC AML