HSBC goes
live on SGX NPTS using SWIFT
live on SGX NPTS using SWIFT
…………………………………………………………………………….
HSBC becomes the
first bank to send FIXML and ISO20022 messages over their network
first bank to send FIXML and ISO20022 messages over their network
Singapore, 27 June 2017 – SWIFT announcestoday that HSBC successfully went live with FIXML and ISO 20022 traffic on
SWIFT for domestic clearing and settlement on SGX, enabling the bank to use a
single channel for domestic and cross-border messaging. HSBC is the first bank
to send FIXML messages via SWIFT for clearing purposes.
HSBC’s selection of SWIFT will enable
the bank to improve straight-through-processing (STP) and efficiency as the
bank will be moving from batch processing into messaging. Using SWIFT as a
single channel for all cross-border and domestic communications will provide
HSBC with a single view on all their messages and a cost-effective
infrastructure.
the bank to improve straight-through-processing (STP) and efficiency as the
bank will be moving from batch processing into messaging. Using SWIFT as a
single channel for all cross-border and domestic communications will provide
HSBC with a single view on all their messages and a cost-effective
infrastructure.
Tony Lewis, HSBC Head of Securities
Services for Singapore said: “Following a number of successful implementations
in the region, it is a pleasure to work with SWIFT and SGX on extending our
network to cover all domestic clearing and settlements in Singapore. The
consolidation of inbound and outbound messaging traffic in Singapore through
one channel has enabled HSBC to achieve straight-through processing across the
entire post trade execution flow for securities. This translates
into more timely reporting to clients on their matching and settlement status.
It also means that clients can leverage our technology and harness the benefits
of driving efficiencies by integrating their workflows with us. Importantly, a
key achievement is our ability to offer institutional clients seamless
connectivity in Singapore, as part of our strategy to provide them with opportunities
for greater integration with market infrastructures such as the SGX”.
Services for Singapore said: “Following a number of successful implementations
in the region, it is a pleasure to work with SWIFT and SGX on extending our
network to cover all domestic clearing and settlements in Singapore. The
consolidation of inbound and outbound messaging traffic in Singapore through
one channel has enabled HSBC to achieve straight-through processing across the
entire post trade execution flow for securities. This translates
into more timely reporting to clients on their matching and settlement status.
It also means that clients can leverage our technology and harness the benefits
of driving efficiencies by integrating their workflows with us. Importantly, a
key achievement is our ability to offer institutional clients seamless
connectivity in Singapore, as part of our strategy to provide them with opportunities
for greater integration with market infrastructures such as the SGX”.
Nico Torchetti, SGX Head of Market
Services, Equities & Fixed Income, said: “In line with SGX’s efforts to
introduce international best practices to the Singapore securities market, we
are pleased that our securities post-trade modernisation initiative has
translated into greater workflow efficiencies and more timely information for
our members, including HSBC. HSBC successfully launched its trading-clearing
business model on SGX’s new post-trade systems, and further consolidated its
post-trade processing using SWIFTNet and SGX clearing and settlement APIs. This
is the first SWIFTNet implementation, and will be followed by other members in
the coming months. Members will have the flexibility in structuring and
operating their securities trading and clearing business; they can not only use
their preferred application infrastructure, but can also choose how they
connect to SGX, such as through SWIFTNet.”
Services, Equities & Fixed Income, said: “In line with SGX’s efforts to
introduce international best practices to the Singapore securities market, we
are pleased that our securities post-trade modernisation initiative has
translated into greater workflow efficiencies and more timely information for
our members, including HSBC. HSBC successfully launched its trading-clearing
business model on SGX’s new post-trade systems, and further consolidated its
post-trade processing using SWIFTNet and SGX clearing and settlement APIs. This
is the first SWIFTNet implementation, and will be followed by other members in
the coming months. Members will have the flexibility in structuring and
operating their securities trading and clearing business; they can not only use
their preferred application infrastructure, but can also choose how they
connect to SGX, such as through SWIFTNet.”
Eddie Haddad, Managing Director, Asia
Pacific, SWIFT said: “We are delighted that HSBC chose to leverage its SWIFT
infrastructure for its domestic clearing and settlement operations on SGX, it
confirms the trust that HSBC places in the reliability and efficiency of the
SWIFT network It also highlights one of our key strategic objective in terms of
expanding our cooperative members’ reach to domestic infrastructures across the
world and in Asia Pacific in particular”.
Pacific, SWIFT said: “We are delighted that HSBC chose to leverage its SWIFT
infrastructure for its domestic clearing and settlement operations on SGX, it
confirms the trust that HSBC places in the reliability and efficiency of the
SWIFT network It also highlights one of our key strategic objective in terms of
expanding our cooperative members’ reach to domestic infrastructures across the
world and in Asia Pacific in particular”.
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About SWIFT
SWIFT is a
global member-owned cooperative and the world’s leading provider of secure
financial messaging services. We provide our community with a platform for
messaging, standards for communicating and we offer products and services to
facilitate access and integration; identification, analysis and financial crime
compliance. Our messaging platform, products and services connect more than
11,000 banking and securities organisations, market infrastructures and
corporate customers in more than 200 countries and territories, enabling them
to communicate securely and exchange standardised financial messages in a
reliable way. As their trusted provider, we facilitate global and local
financial flows, support trade and commerce all around the world; we
relentlessly pursue operational excellence and continually seek ways to lower
costs, reduce risks and eliminate operational inefficiencies. Headquartered in
Belgium, SWIFT’s international governance and oversight reinforces the neutral,
global character of its cooperative structure. SWIFT’s global office network
ensures an active presence in all the major financial centres.
global member-owned cooperative and the world’s leading provider of secure
financial messaging services. We provide our community with a platform for
messaging, standards for communicating and we offer products and services to
facilitate access and integration; identification, analysis and financial crime
compliance. Our messaging platform, products and services connect more than
11,000 banking and securities organisations, market infrastructures and
corporate customers in more than 200 countries and territories, enabling them
to communicate securely and exchange standardised financial messages in a
reliable way. As their trusted provider, we facilitate global and local
financial flows, support trade and commerce all around the world; we
relentlessly pursue operational excellence and continually seek ways to lower
costs, reduce risks and eliminate operational inefficiencies. Headquartered in
Belgium, SWIFT’s international governance and oversight reinforces the neutral,
global character of its cooperative structure. SWIFT’s global office network
ensures an active presence in all the major financial centres.
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