Funding & Investing

Roche Adam Smith Webinar

Published: Jan 0001

Repo enabler?...Try SWIFT

Roche

Adam Smith Awards 2016 Highly Commended Winner – Best SWIFT Solution

This solution leverages SWIFT to deliver an alternative source of funding which, since September 2015, has successfully accomplished half a billion euro with multiple repo trades. This is an innovative project which was awarded a Highly Commended winner in the Best SWIFT Solution category.

With this solution the back office team has shown that it can quickly adapt to new requirements from the front office by enhancing the utilisation of the current SWIFT SCORE and MA-CUG agreements. One of the main challenges was to send out and match at least four SWIFT messages per deal initiation and another four at maturity (MT199, MT599, MT540, MT542 and additional MT540/542 if ‘repo’d’ multiple securities).

Since there was no ‘out-of-the-box’ software solution for tri-party repos in their TMS, a new repo framework was built in SAP on top of the correspondence matching engine with in-house expertise.

This webinar was held on Tuesday 25th October 2016.

Read the case study: Best SWIFT Solution

Questions asked throughout the webinar

  • Recently there have been significant security issues at SWITFT that have come to the fore, do you have any views or experience of this at Roche? (39:00)

  • You mentioned you have established a buffer. Can you explain what that does and do you derive any value from whatever it is that the buffer is housing? (40:40)

  • If you implemented this solution now, is there anything you would have done differently and if so, why is that? (42:28)

  • SAP built additional modules to manage repos via SWITFT, where do the other TMS vendors, such as Reval, FIS etc, stand with regard to repos in SWITFT? (43:46)

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