ISO Adoption Global trends

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1 ISO Adoption Global trends Margaux Monforti, ISO Business Development, SWIFT Wednesday, 28 October 2015, Bucharest

2 ISO adoption Market Infrastructures Market Infrastructures Financial Institutions Financial Institution customers 200 initiatives 580 Corporates Europe Asia Pacific Americas Middle East & Africa Transformation Globalisation Regulation

3 ISO adoption - context Market Infrastructures Financial Institutions Financial Institution customers 200 initiatives 580 Corporates SWIFT is not mandating migration SWIFT will continue to support FIN

4 ISO adoption Market Infrastructures Market Infrastructures Financial Institutions Financial Institution customers Europe Regional integration Regulations Real-time payments T2S Settlement & reconciliation CSDs and NCBs with T2S As of 2015 TARGET2 EURO1/STEP1 HVP systems Close to 1000 member banks Under discussion Nordic CSDs communities 6 banks, 4 CSDs Funds, CA, Account management As of 2016 Payments systems in CH All payment systems and instruments As of 2016

5 ISO adoption Market Infrastructures Market Infrastructures Financial Institutions Financial Institution customers Asia Pacific New services Internationalisation Regional integration JASDEC Settlement & reconciliation Additional plans for post-trade Live since 2014 ASX Corporates actions New announcement service Live since 2014 AU-NPP Real-time payments New services to customers 2017 Brunei New RTGS System Part of ASEAN Integration Live since 2014

6 ISO adoption Market Infrastructures Market Infrastructures Financial Institutions Financial Institution customers Americas New services Automation Transformation DTCC Securities transformation Corporate Actions Live since 2011 CPA All payments systems New services to customers Date to be confirmed Galgo (BR) Investment funds Automation Live since 2011 US New HVP system (CHIPS and Fedwire) Specs in 2017

7 ISO adoption Market Infrastructures Market Infrastructures Financial Institutions Financial Institution customers Middle East & Africa Regional integration Renewal of legacy systems New services SADC 13 Countries in Africa Low-value payments 2015 SARB All payments systems New services to customers Under discussion Other initiatives Jordan South-Africa

8 ISO adoption Market Infrastructures Market Infrastructures Financial Institutions Financial Institution customers

9 Towards a harmonised use of ISO Less variation, more global market practice Provide a predictable environment for MI communities (versions, release mgmt..) 3 Best practice sharing for community adoption & implementation

10 The ISO Harmonisation Framework - Principles Publication Publish your standards information in a consistent format on MyStandards [messages/versions used, release timeline, market practice] Market Practice Adherence Define and document further market-or service-specific usage guidelines (using global MP as basis) Adhere (where possible) to global ISO market practice Remain up-to-date with ISO standards release Synchronize standards upgrades with industry MT release cycle Adopt latest message version for any new project Market practice Version & release management Information sharing Share information on ISO messages, versions and market practice used with other Market Infrastructures

11 The ISO Harmonisation Framework - Stakeholders involved APCA ASX Banca d Italia Bank of Canada Bank of England Canadian Payments Association Clearstream CLS Colombia ACH National Bank of Belgium NSD Russia Reserve Bank of South Africa SADC SGX Deutsche Bundesbank The Clearing House DTCC US Federal Reserve EBA VP Securities ECB Euroclear Hong Kong Interbank Clearing JASDEC

12 The ISO Harmonisation Framework - Benefits For Financial Institutions For Market Infrastructures Reduce Implementation cost and timelines Running cost Maintenance cost Alignment with international best practices Sharing information and understanding Drivers Plans Challenges Opportunities

13 Why SWIFT for ISO 20022? for ISO Forty years of community expertise Efficient community management Unique tools and established processes to support communities Unequalled contribution to ISO Trusted consulting partners for more ISO initiatives globally than anyone else Standards expertise Resilient messaging platform Only worldwide value-added network designed specifically for ISO Highest standards of reliability, availability and security Selected as platform provider for key ISO initiatives in payments and securities SWIFT - the trusted source for your ISO initiative

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