I’d like to draw your attention to our forthcoming online coverage for Sibos, the annual gathering of the SWIFT membership. This year it will be held in Toronto from September 19 to 23, and will focus on many issues near and dear to your concerns. However, the FTF News will not wait until then—our coverage will begin in early September.
For starters, we’re working on a report about the Depository Trust and Clearing Corp. (DTCC) and a key part of its reengineering effort—a pilot project to bring the ISO 20022 standard to corporate actions dissemination and processing.
The DTCC pilot program, launched in April, has been focusing on new ISO 20022 corporate actions announcement messages and the DTCC’s new browser-based user interface. It involves BNY Mellon, Brown Brothers Harriman, Investment Technology Group (ITG), JPMorgan Chase and National Financial Services. The pilot participants will be testing how the new standard and user interface work with announcements for dividends, principal and interest, redemptions, and reorganization events such as tender offers, stock splits and warrants. SWIFT, of course, has had a key role to play in this effort and has been working closely with the DTCC to develop the new messaging documentation.
If successful, the project could bring XML and a mini-revolution to corporate actions.
But we haven’t stopped there. We have lined up Q&A columns with Konstantin (Kosta) Peric, SWIFT’s head of innovation. Kosta and I had a wide-ranging talk about innovation across the industry and how SWIFT’s Innotribe initiatives will impact your current and future securities processing efforts.
We will also have plenty of SWIFT-related news from Sibos, especially during the week of the event. Among the issues addressed at the Sibos forum will be regulation, risk management, centralized clearing, reference data, exchange consolidation and the future of derivatives. On Monday, Sept. 19 alone, Sibos will take on securities market infrastructures and the new risks of post-trade market infrastructures after the New Recession. I will do my best to tweet about these discussions and report on them fully later. (I have to warn you that I am a little old school, so please cut me some slack on the tweeting/social media front; I still view the telephone as social media.)
We are likely to have a few surprises for you during September, but we are happy to announce that we will end it with an in-depth Q&A with Dennis E. Goodenough III, senior business manager, securities initiatives, for SWIFT Americas.
So enjoy the rest of the summer and we will see you bright and early next month.
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