Transcript SWIFTNet Proxy Voting

SWIFTSolutions for high value
payment clearing
Sib06_SWstand_HVPC_v1.ppt
Slide 1
Adding value to payments clearing
Standardisation
 Reduced
costs and complexity
for participants
 Interoperability
 Third
of clearings
party software availability
Single window
 Re-use
of existing infrastructure
 Simplicity
Sib06_SWstand_HVPC_v1.ppt
for participants
Slide 2
Benefits for financial institutions
High-value payments
Low-value payments  Single re-usable
connection
FIs
RTGS
EURO1
STEP1
FIs
FIN
InterAct
ACH STEP2

Standard security
implementation

Re-usable technical
expertise

Single contract and
service management

Common technical
integration in user
environment

Business standards
FileAct
SWIFT
Financial institutions
Sib06_SWstand_HVPC_v1.ppt
Slide 3
SWIFTNet infrastructure for HVPC systems
Bank A
Bank B
Internal
payment system
SWIFT interface
SWIFTNet
Payment message
SWIFTNet
FIN Copy
SWIFTNet FileAct
Real-time reporting
Settlement
request
Authorisation/
refusal
SWIFTNet Browse
On-line visualisation
of information
SWIFTNet InterAct
Real-time cash management
Central RTGS
Application
Central SWIFT interface
Payment processing
Bank A
Bank B
Central Web Server
SWIFTNet services
Sib06_SWstand_HVPC_v1.ppt
FIN/FIN Copy
Slide 4
SWIFT provides a total solution for payments
and settlement systems
Banking
Automated clearing Real-time gross
correspondents
houses
settlement systems
Settlement
instructions
Payments
R-t cash reporting
Bulk payments
Real-time query/control
Bulk payments
Settlement
instructions
Settlement instructions
DVP instructions
Real-time query/control
Reporting
Real-time query/control
Reporting
FIN FIN Copy
Sib06_SWstand_HVPC_v1.ppt
Central securities
depositories
InterAct
FileAct
Slide 5
FIN Copy Service
Y-Copy mode
1
User A
5
User B
2
3
4
Central
Institution
Sib06_SWstand_HVPC_v1.ppt
1. User A sends message to User B
2. Original message is held in FIN
3. Message is copied by FIN to
Y-Net Server, and sent in an
MT096 envelope
4. Authorisation is sent to FIN
(MT097)
5. FIN forwards the message to
User B. If not authorised, FIN
returns message to User A
Slide 6
FIN Copy Service
T-Copy mode
1
4
2
User A
User B
3
1. User A sends message to User B
2. Message is copied by FIN to the
Server
3. Message is sent to the Server in
an MT096 envelope
4. FIN forwards the message to
User B
Central
Institution
Sib06_SWstand_HVPC_v1.ppt
Slide 7
FIN Copy Service
Additional features
Sender Notification/Receiver Information
1
User A
5
User B
2
Destination info
(Block 115)
Sender notification MT012
& Sender info (Block 114)
3
4
Sender info (Block 114)
Destination info (Block 115)
Central
Institution
Sib06_SWstand_HVPC_v1.ppt
Slide 8
FIN Copy
Y-Copy authentication
MAC:A to B
User A
SWIFT
Y-Copy
PAC:A to Central Institution
User B
PAC:Central Institution to B
Central
Institution
Sib06_SWstand_HVPC_v1.ppt
Slide 9
FIN Copy
T-Copy authentication
MAC:A to B
User A
User B
SWIFT
FIN Copy
PAC:A to Central Institution
Central
Institution
Sib06_SWstand_HVPC_v1.ppt
Slide 10
Cash management messaging offering
SWIFTStandards XML
1
-
Get object
information
-
Limits
Accounts
Transactions
Business data (membership, day profiles,
exchange rates, FX margins...).
Input transactions
Modify/cancel transactions
Modify/cancel limits
Transaction authorizations
Standing order management
3
Alarms and
business information
Actions on
objects
-
- Registration or bookings to the account
- Balance information
Sib06_SWstand_HVPC_v1.ppt
2
Limits
Accounts
Transaction
Business information (static/dynamic)
Provide information
for Reconciliation
4
Slide 11
SWIFTNet InterAct is used in real time mode
query and response
Real-time
query &
response
Used either in the context
of person-to-application
solutions (with SAB) or
application-to-application
(with SAG)

SWIFTNet InterAct Q&R: interactive exchange of information for
messages that are time-critical and need an instant response

New message types will be introduced as ISO XML messages for
SWIFTNet InterAct: Cash Management standards

Types of operations supported include:
– Payments queue management
– Liquidity management
– Management of reservation and limits
Sib06_SWstand_HVPC_v1.ppt
Slide 12
Key characteristics of SWIFTNet InterAct
Highly secure





Secured with SWIFTNet PKI (managed certificates)
Encryption, authentication and integrity control
Non-repudiation
Closed user group control
SIPN
Highly reliable



Highly available operations
Store-and-forward
Delivery notification
STP oriented


Message validation
XML-based
Other




Short messages (max 100 K; recommended < 20 K for RT)
Higher priority vs. SWIFTNet FileAct
Flexible central routing
Real-time messaging requires 64K lines minimum
Sib06_SWstand_HVPC_v1.ppt
Slide 13
SWIFTNet Browse overview
SWIFTNet Browse transparently combines two communication mechanisms
Service user
Using non-managed Web certificates
HTTP-S channel
only authenticates the
system of the end user
Service provider
HTTP-S
SWIFTNet
User access rights
User
E Grieg
F Chopin
E Grieg
InterAct/FileAct
Workstation
Using managed SWIFTNet PKI certificates
ok?


Limits
75,000
50,000
Web Server + SNL
InterAct / FileAct
channel authenticates
the end user
SWIFTNet Browse allows to initiate InterAct or FileAct exchanges via a secure
browser link. By doing so sensitive data can be exchanged with all the security
and reliability inherent to the SWIFTNet platform, while preserving the benefits of
a browser-based environment.
Sib06_SWstand_HVPC_v1.ppt
Slide 14
Key characteristics of SWIFTNet Browse
(when used with SWIFTNet InterAct/FileAct)
Highly secure
and reliable




Integration with SWIFTNet InterAct / FileAct for
security sensitive data
HTTP-S exchanges secured with web-certificates
for non-sensitive / un-structured exchanges
Closed User Group control
SIPN
Standard
technologies

Thin client

Service provider does not install software
at client side
Single window

Re-utilisation of existing SWIFTNet infrastructure
Sib06_SWstand_HVPC_v1.ppt

Client uses standard browser to navigate
HTTP-S for screens and InterAct for transactions
or FileAct for file transfers
Slide 15
Benefits for automated clearing houses
hardware
testing
software
lines maintenance
support
project management
legal
procurement
release qualification
backup
software
maintenance
disaster take-over
education exercises
documentation
Sib06_SWstand_HVPC_v1.ppt
Slide 16
Banking market infrastructures – August 2006
Low-Value Payments
High-Value Payments
Systems
Systems
Live
67
Live
6
Implementation
12
Implementation
3
Plan/Discussion
5
Plan/Discussion
12
SWIFTNet services
FIN
FIN Copy
InterAct
FileAct
Browse
Live
25
42
6
11
6
Implementation
6
5
4
7
5
Plan/Discussion
1
5
2
15
9
Sib06_SWstand_HVPC_v1.ppt
Slide 17
Banking market infrastructures – August 2006
High-value payments
Live
Albania (AIP)
Algeria (RTGS)
Angola (PTR)
Australia (PDS)
Austria (ARTIS)
Azerbaijan (AZIPS)
Bahamas (BHS)
Barbados (BDS)
Belgium (ELLIPS)
Bosnia & Herzegovina (BIH)
Bulgaria (BGN-RINGS)
Canada (LVTS)
Chile (Netting - LBTR)
CLS Bank
Croatia (HSVP)
Denmark (DDK-KRONOS)
Egypt (CBE)
EBA Clearing (EURO1/STEP1)
ECB (TARGET)
Finland (BOF)
France (CRI – PNS/TBF)
Germany (RTGSPlus)
Ghana (GISS)
Greece (HERMES)
Guatemala (RTGS)
Hungary (VIBER)
Ireland (IRIS)
Italy (BIREL)
Jordan (RTGS)
Kenya (KEPSS)
Implementation
Bahrain (RTGS)
Morocco (RTGS)
Central African States (BEAC)
Eurosystem (TARGET2)
Israel (RTGS)
Fiji (RTGS)
Sib06_SWstand_HVPC_v1.ppt
Botswana (RTGS)
Pakistan (RTGS)
Tunisia (RTGS)
Singapore (MEPS+)
Swaziland (RTGS)
Hong Kong (RTGS)
Kuwait (RTGS)
Latvia (LVL)
Lesotho (RTGS)
Luxemburg (LIPS)
Malta (MARIS)
Mauritius (MACSS)
Namibia (NISS)
Netherlands (TOP)
New Zealand (AVP)
Norway (NICS)
Oman (RTGS)
Philippines (PPS)
Romania (REGIS)
Slovenia (SIPS)
South Africa (BOP RTGS - SAMOS)
Spain (NSLBE - SLBE)
Sri Lanka (LankaSettle)
Sweden (RIX)
Switzerland (Remote Gate)
Tanzania (TISS)
Thailand (BAHTNET/2)
Trinidad & Tobago (SAFE-TT)
Uganda (UNIS)
United Kingdom (CHAPS-£
CHAPS-€ / Enquiry Link)
United States (CHIPS)
Venezuela (PIBC)
Zambia (RTGS)
Zimbabwe (ZETTS)
West African States (BCEAO)
Plan/Discussion
Georgia (RTGS)
Lebanon (RTGS)
Palestine (RTGS)
Peru (RTGS)
Russian Federation (RTGS)
Slide 18
Banking market infrastructures – August 2006
Low-value payments
Live
Albania (AECH)
EBA Clearing (STEP2)
Eurogiro
Germany (RPS)
Slovenia (GIRO)
Sweden (BGC)
Sib06_SWstand_HVPC_v1.ppt
Implementation
Jordan (ACH)
Uganda (ACH)
United Kingdom (VOCA)
Plan/Discussion
Croatia (FINA)
Georgia (ACH)
Germany (Garagenclearing)
Ghana (ACH)
Greece (DIAS)
Italy (part of BI-COMP)
Luxemburg (LIPS-Net)
Netherlands (Interpay)
Romania (SENT)
Sierra Leone (ACH)
South Africa (BankServ)
Spain (Iberpay)
Slide 19