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SWIFT & TARGET2
Event Name
Name
Date
Agenda
•
•
•
•
Concept of TARGET2
SWIFTNet services & interfaces
SWIFT traffic pricing
TARGET2 Services
SWIFT registration scenarios
• Where to find help
Presentatio
n title – dd
month yyyy
2
–
Confidentia
Concept of TARGET2
•
•
•
•
“Single platform” system
Concentration of domestic euro RTGSs
Direct & indirect participants
Full set of SWIFTNet services and
Interfaces
• MT, MX and XML standards
• Automated or manual access
• Live November 2007
TARGET2 Indirect
Participant
TARGET2
Direct
Participant
SWIFTNet
services
TARGET2
Direct
Participant
SSP
NCBs
3
Ancillary Systems
Full set of core SWIFT messaging services
TARGET2 Indirect
Participants connected
via TARGET2 direct
participant
Branch
Non EU Bank
settlement
request
TARGET2
Direct
Participant
SWIFTNet
FileAct
Indirect
EU Bank
SWIFTNet FIN
payment message
Real-time
Store & Forward
SWIFTNet InterAct
TARGET
Direct
Participant
authorisation/
refusal
SWIFTNet
FIN Copy
SWIFTNet Browse
On-line visualisation
of information
Real-time
Ancillary
systems
NCBs
4
Full set of core SWIFT messaging services
SWIFTNet
FIN
SWIFTNet
Browse
SWIFTNet
messaging
SWIFTNet
InterAct
SWIFTNet
FileAct
SWIFT's core store-and-forward
messaging service.
A secure, reliable, resilient, access
controlled, structured store-andforward messaging service.
Secure browsing with standard
internet technologies. Appropriate for
data exchange in thin-client browserbased financial solutions.
To be used with SWIFTNet InterAct
and FileAct.
Secure, reliable, and STP-oriented.
Appropriate for exchange of
individual structured financial
messages and short reports.
Secure, reliable, and flexible.
Appropriate for exchange of files and
batches of structured financial
messages and large reports
5
SWIFTNet FIN & FIN-Copy: payment
processing
SWIFTNet
FIN
Payment
order
1
2
3
1
Payment Instruction
MT103, 103+, 202, 204*) TARGET2
Direct
Participant
Settlement request
(MT096)
Y
4
- Copy
TARGET2
Direct
Participant
2
5
3
5
Settlement response
(MT097)
4
Approved/Settled
Payment Instruction received
5
Sender / receiver notification and
reporting
(Optional MT012, MT019, MT900,
MT910, MT940, MT950 )
SWIFT
Interface
SSP
Settlement
Application
6
SWIFTNet Browse overview
Service user
Service provider
SWIFTNet
Workstation
(running Alliance WebStation
and a standard Browser)
Web Server and
SWIFTNet Link*
SWIFTNet Browse enables secure browser-based access (over SIPN)
from an operator using a standard browser and Alliance WebStation
to a service provider’s web server
7
* Typically used in conjunction with Alliance Gateway
SWIFTNet Browse overview
SWIFTNet Browse transparently combines two communication mechanisms
Service user
HTTP-S channel
only authenticates
the system of the
end user
HTTPS
SWIFTNet
InterAct/FileAct
Workstation
Service provider
Using nonmanaged Web
certificates
Using managed
SWIFTNet PKI
certificates
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.
8
SWIFTNet InterAct is used in real-time
mode query & response
Real-time
query &
response
Used either in the context
of person-to-application
solutions (with All.
Webstation) or
application-to-application
(with All. Gateway)
• SWIFTNet InterAct Q& R: real-time exchange of information
• XML messages for SWIFTNet InterAct: Cash Management Standards
• Access to the SSP (mandatory and optional modules) through SWIFTNet
InterAct:
– Payments queue management
– Liquidity management
– Management of reservation and limits
– etc…
9
The SWIFT XML Cash Management standards
Advice
Statement
GetAccount
GetTransaction
ModifyTransaction
CancelTransaction
GetLimit
ModifyLimit
DeleteLimit
GetReservation
ModifyReservation
DeleteReservation
GetMember
ModifyMember
GetBusinessDayInformation
GetCurrencyExchangeRate
GetGeneralBusinessInformation
LiquidityCreditTransfer
LiquidityDebitTransfer
BackUpPayment
ModifyStandingOrder
Receipt
&
&
ReturnAccount
ReturnTransaction
&
Return Limit
&
ReturnReservation
&
ReturnMember
&
&
&
ReturnBusinessDayInformation
ReturnCurrencyExchangeRate
ReturnGeneralBusinessInformation
10
SWIFTNet FileAct real-time and store-andforward
• FileAct Real Time and store-and-forward used for:
– Reporting
– Directory distribution
Store-andforward file
transfer
Store
Real-time
file download
Used
Typically used to reach
a large number of
counterparties
& Forward: TARGET2 sender of files (TARGET2 Directory updates)
Typically used in the
context of person-toapplication solutions
(with SWIFTNet Browse)
by TARGET2 participants to pull TARGET2 directory
11
Accessing TARGET2
ICM access
mode
User-to-Application
ICM
user profile
Any user *
Alliance
Access/
Entry
users
Alliance WebStation
or
Alliance Gateway /
WebStation concentration
Application-toApplication
Alliance
Gateway
Single Window
Alliance Starter Set
* It is assumed user is already a SWIFTNet FIN user
12
SWIFTAlliance Gateway – Licensing &
pricing ‘An easy step approach’
16,000$
6,500$
Profile 1 :
“WebStation
Concentration”
SWIFTAlliance
Starter Set
Benefits :
-FileAct out-of-the
box
-1 concurrent user
Profile 2 :
“Automated “
Benefits :
-Flexible SAB
deployment
-From 5 till 320
concurrent users
Benefits :
-Off-the-shelf application
integration using Agents
(FTA or TDA for < 200
InterAct or FileAct per
day)
-Flexible SAB deployment
-From 1 till 320 concurrent
users
Price :
Starts at 7,500$ (5
users)
Price :
Starts at 14,000$ (1 User,
1 Agent)
Profile 3:
“Single Window”
Benefits :
-Can reside in DMZ
-Scalability & resource
optimisation
-Resilience
-Off-the-shelf application
integration using Agents
(FTA or TDA)
-Flexible SAB deployment
-From 5 till 320 concurrent
users
Price:
Starts at 30,000$ (5 Users,
1 Agent, 1 Host Adapter)
+
Traffic licence
13
Agenda
•
•
•
•
SWIFTNet services & interfaces
SWIFT traffic pricing
Ordering steps
SWIFT help & education
Presentatio
n title – dd
month yyyy
14
–
Confidentia
SWIFT Traffic Pricing for TARGET2
FIN User-to-user pricing
•
Fixed price of 5.65 eurocent per chargeable unit,
country independent
Standard billing
•
FIN from and to Market Infrastructure
•
Fixed price of 5.65 eurocent per chargeable unit,
country independent
Reverse billing
•
FIN Copy pricing
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•
•
Y-copy
Price dependent on total volume of daily copies of MI
Reverse billing
SN Browse
SWIFTNet InterAct or FileAct
•
•
•
•
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Yearly fee depending on number of service end-users
Reverse billing
Global tier of Sender
International traffic
Reverse billing
15
Agenda
•
•
•
•
SWIFTNet services & interfaces
SWIFT traffic pricing
Ordering steps
SWIFT help & education
16
TARGET2 Services registration scenarios
 www.swift.com – Ordering – Products and Services – TARGET2 service
E-ordering can undergo version changes. Therefore, the following e-order can be different to the one
you will fill in.
The e-order used in this document is the one for the Test service. If you want to subscribe to the Live
service you have to additionally fill in the respective “Live” e-order.
Scenario 1
I subscribe to the
Payments Module + Information and Control Module
Scenario 2
I subscribe to
Payments Module + Information and Control Module
+ Home Accounting Module
Scenario 3
I subscribe to
Information and Control Module + Home Accounting Module
Scenario 4
I subscribe to
Information and Control Module + Central Bank Customers CUG
Scenario 5
I subscribe to
Information and Control Module and/or Ancillary Systems Interface
e-MSSF for TARGET2 Service Subscription (1/7)
TARGET 2 (TRGTXEPM) Market Infrastructure: test service
I subscribe to the Payments Module +
Information and Control Module
e-MSSF for TARGET2 Service Subscription (2/7)
e-MSSF for TARGET2 Service Subscription (3/7)
e-MSSF for TARGET2 Service Subscription (4/7)
Only use the “Advanced” button if you want
to register additional DNs to the service.
e-MSSF for TARGET2 Service Subscription (5/7)
e-MSSF for TARGET2 Service Subscription (6/7)
Only use the “Advanced” button if you want to specify
additional SWIFTNet Addresses and corresponding CUGcategories to send and receive messages for this service.
e-MSSF for TARGET2 Service Subscription (7/7)
Only use the “Advanced” button if you want to to change the queue
name or use multiple queues to process different types of
messages for this service
Service subscription e-ordering process
Customer
NCB
Service Administrator
1
www.swift.com
TARGET2
form
Approval
page
Approval
page
FIRST
Discuss with
your National
Bank
2
ACK
Validation
3
4
5
7
6
Provisioning
8
Customer Order on-line tracking
• Online facility accessible from the ‘ordering’ section on www.swift. com.
• As a registered user, you can track the status of any order placed via the
online ordering.
Has
my software been shipped?”
“Is my configuration change request implemented?”
“What is the status of my subscription?”
 “When is the service activated?”
Testing and live
TESTING
• Exchange authorisations with TARGET2 Test BIC
TRGTXEP0
• SWIFT activates TARGET2 services in Test mode
• Start testing according to the test cases/scenarios as
prepared by your National Bank
LIVE
• Subscribe to the Live TARGET2 service on swift.com
• Exchange authorisations with TARGET2 live BIC
TRGTXEPM
• SWIFT activates TARGET2 services in Live mode
Where to find help ?
https://target2.ecb.int
National Central Bank
www.swift.com
www.swift.com
• Contact details of Network
Providers and Business Partners
• SWIFT on-line support and
FAQ’s
• Updates on vendor initiatives,
activities and status
28
Q&A
29
Thank you
30