usng update
TRANSCRIPT
SWIFT US National Group - Update
SWIFT New York Business Forum Brian S. Crabtree, Director, Citibank & Chair of Securities Subcommittee George M Doolittle, Executive Vice President, Head of Global Payment Services, Wells Fargo & Chair of Cash & Trade Subcommittee Scott Frazer, VP, PNC Bank, Chair of US Corporate Subcommittee John J. Masterson, Managing Director, BNY Mellon & Chair of Technology Subcommittee John McKessy, SUSNG, User Group Chair Theodore Rothschild, Executive Director, J.P. Morgan & Chair of SUSNG
3 March 2015
SWIFT New York Business Forum - 3 March 2015
Agenda
• Introduction
• Sub-committee updates
• How to get involved?
• Q&A
• Closing remarks
SWIFT New York Business Forum - 3 March 2015
Introduction
SWIFT New York Business Forum - 3 March 2015
Who are
we? Where can
you get in
touch?
Chairperson
Newsletter
Updates
Subcommittees
Cash & Trade
Corporates Securities Technology
SWIFT New York Business Forum - 3 March 2015
Cash & Trade
George Doolittle of Wells Fargo Bank,
[email protected] chairs
the Cash & Trade Committee
The Committee meets bi-monthly and focuses on issues impacting CAT 1, 2, 3, 4, 7 and 9 messages, and issues that might impact payments in the future such as, ISO 20022 implementation, or LEI use in payment messages.
The Committee typically draws topics from the participants, SWIFT, US payment groups such as BAFT, TCH, and the Payment Market Practices Group (PMPG), a SWIFT advisory group.
SWIFT New York Business Forum - 3 March 2015
Currently, the Cash & Trade Committee is focusing on issues related to:
• Emerging cross border payment issues such as:
the impact of Sanctions Management on payment processing
the use of Field 72 in the MT1XX messages
the impact of BIS BCBS liquidity management recommendations on payments and related payment reporting messages.
• Debates US community positions on Standard Release recommendations and develops recommendations for the US community.
• The Trade conversation is currently very active with discussion underway about updating the Cat 4 and 7 messages. The Committee interacts with BAFT-IFSA and the US representative of the Trade Maintenance Working Group.
Corporates
Scott Frazer of PNC Bank, [email protected] chairs
the Corporates Committee
This newly formed Committee meets quarterly, focusing on issues and topics of interest to corporate users of SWIFT, e.g. new services, maximizing value of the corporate’s SWIFT infrastructure, etc.
The Committee typically draws topics from the participants, SWIFT and US members of the SWIFT Corporate Advisory Group (CAG).
SWIFT New York Business Forum - 3 March 2015
Currently, the Corporates Committee is focusing on issues related to:
• Update on SWIFT’s 2020 strategy
Enriching the SWIFT Portfolio
Expanding the reach between corporates and banks, e.g. accelerate on boarding of corporates with entry level solutions, cash reporting in emerging markets, etc.
• Review of SWIFT KYC Registry
• Using MyStandards
• Overview of SWIFT’s Sanction Screening services
• SWIFT Reference Data solutions
• Updates on CGI (Common Global Implementation)
• Integration solutions
Securities
Brian S. Crabtree of Citibank, [email protected] chairs
the Securities Committee
The Committee seeks to support the USNG’s desire to provide leadership, representation and guidance. Members selected an initial list of relevant topics of interest to the community.
The discussion of each topic is led by a champion from the community. Topics covered evolve in response to the level of community interest and as topics reach finality.
SWIFT New York Business Forum - 3 March 2015
In addition to topics initially identified, the subcommittee has
• Increased awareness of SWIFT’s community outreach for their 2020 strategy
• Discussed the USNG SC feedback to SWIFT on their 2020 strategy
• Discussed the annual maintenance process in order to provide greater insight and understanding
• Collected and represented the community’s view on the proposal to cancel or limit the 2015 Maintenance Release
• Provided DTCC an additional forum to communicate their re-engineering plans.
In 2015 the subcommittee will
• Continue to engage the community with SWIFT’s Securities initiatives and their 2020 strategy
• Work with SWIFT executive to increase engagement, relevance and support for the buy-side
• Continue to provide an additional forum to DTCC for their re-engineering plans
• Engage the community with the SR2016 maintenance process
Technology
John J. Masterson of BNY Mellon Bank, [email protected] chairs the
Technology Committee
The Committee meets on a monthly or as needed basis via conference calls or WebEx to focus on issues related to the SWIFT Infrastructure, hardware/software upgrades, messaging and product overviews.
The Committee typically draws topics from the participants
SWIFT New York Business Forum - 3 March 2015
Currently, the Technology Committee is focusing on issues related to:
• KYC
• SWIFT Sanction Services overview
• 3SKey overview
• Crisis Coordination & Communication
• SIBOS Tech Forum review
• RMA Revocation
Past topics discussed includes
• HSM Refresh
• FIN Renewal
• SWIFTNet Release 7.0
• Alliance support for Linux
• MyStandards Update
• SWIFT/DTCC corporate event re-engineering
• LEI
User Group Chair Update
SWIFT New York Business Forum - 3 March 2015
Ask John McKessy, User Group Chair at [email protected] or [email protected]
How to get to involved? Request for access • Email to
• Provide the following in your email request: – Your full name
– Your company name
– Your company’s SWIFT BIC address
– Contact info including phone number, email and mailing address
– Your functional title
– Access and Subcommittee participation (indicate your area of interest)
• Website
• List Subcommittee(s) to join
• SWIFT USNG Website
– Access to quarterly Board papers
– Access to subcommittee notes and presentations
– Chairperson newsletter
• Subcommittee participation
– Have a voice in the development of SWIFT & common industry issues
– Keep abreast of Standards Release and Maintenance
SWIFT New York Business Forum - 3 March 2015
Closing comments
SWIFT New York Business Forum - 3 March 2015
Participate! Participate! Participate!
Hot topics?
Feedback
Thank You
Theodore Rothschild, Chairman
212 552 2536
SWIFT New York Business Forum - 3 March 2015