USNG Update

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


Introduction


Who are

we? Where can

you get in

touch?

Chairperson

Newsletter

Updates

Subcommittees

Cash & Trade

Corporates Securities Technology


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.


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.

mailto:[email protected]

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).


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.


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


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


Ask John McKessy, User Group Chair at [email protected] or [email protected]



How to get to involved? Request for access • Email to

[email protected]

• 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



Closing comments


Participate! Participate! Participate!

Hot topics?

Feedback

Q & A


?

Thank You

Theodore Rothschild, Chairman

[email protected]

212 552 2536



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