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Back office module
• Account opening & Trading
• Trade registration and Amendment
• Pre-Settlement Simulation and Settlement
• Depository functions : Transfer, Deposit, Withdraw
• Corporate action: auto-sweep entitlement list
2
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Objective
• Enhance efficiency and straight-through processing
• Reduce human intervention and operation burden between
double work in member back office and PTI
• Speed-up book closing process
• To be in line with international market practices by
increasing more transparency and more automated
processing.
• Able to support multi-market and multi-currency products
4
Post-trade Plans
2014 Q1
Q2
Q3
Q4
2015Q1
Q2
1. New clearing systems:
1.1 Phase 1 - derivatives clearing system
1.2 Phase 2 - equity clearing system
2. New depository system (depository accounts
segregation & PSMS)
3. New member back office system
3.1 phase 1 - equity
Q4,2015
3.2 phase 2 - derivatives
4. Support member outbound investment
4.1 ASEAN post-trade link
4.2 Outbound investment (outside ASEAN)
5. Fund settlement business
July 2014
Q3, 2014
Business model by Q1, 2014
5
Back-office Module
Overall Project Timeline
2015
2014
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Q1
Q2
Q3
Industry Wide Test
Market Rehearsal
Go-Live
(6 May)
Derivatives Clearing
Communication (BOO & FI, Custodian
Club)
API Spec Released
ISV Training
ISV Development
Conformance Test
Member Training
Industry Wide Test
Cash Clearing & Depository
[Segregate account & PSMS]
Go-Live
(Q2 2015)
Go Phase
1
(Equity)
3. Project
Kickoff
2
3
1. Site 2. Finalist
Visit Selection
1
Analysis (2 mths)
Q4/2015
Phase 2
(Derivatives)
System Design (2 mth)
System coding (1)
New Member’s Back-office
(Phase I – Equity)
System Coding (2)
Conformance Test 1
Industry Wide Test
7
Overview of New Post-trade & New Member Back Office
Registrar
Clearing-to-Custodian
Corporate
Actions
New Clearing New Depository
Auto Sweep
Entitlement List
(Scripless) to
registrar
credit
Subscription securities
(IPO/PO)
Custodian
PSMS Broker
Calculate Obligation on Net Basis
by trade acct (for Broker)
by depository acct (For Custodian)
Depository Segregated Account
Account Opening
Instruct
Securities settlement
@ segregated level
Clearing at Omnibus Level
Clearing
Client
Clearing
Port
Interface with member back office via API Linkage
New Member Back Office Multi-exchanges
Multi-markets/products
e-Document
Report Generator tools
Cross
collateral management
Integrated
Risk management
API Linkage
Advance confirm &
Warehouse
8
Segregated Depository Account Structure
Central Securities Depository
Member
TSD & TCH have a legal
relationship only with
member level
Member Clearing Port Depository Port
Level
Deposit Acct
ก
Client Level
Client
Depository-Client
Clearing ClientDepository
Sink Acct
Deposit Acct
=
Depository Account
Opening
Deposit Acct
-1
Deposit Acct
-2
Deposit Acct
Institution -Ints A
Account profile set-up
(Maintain trading account and shareholder profile for
Depository Account)
API message/Upload for depository
transactions
Data & Balance Reconciliation
Member Back Office
Deposit Acct
ก
Deposit Acct
=
Deposit Acct
Institution -Ints A
Trade acct -1
Trade acct -2
Trade acct -3
Trade acct -4
Trade acct -5
Trade acct -6
Deposit Acct
Institution -Ints B
Trade acct -7
Trade acct -8
9
Account Opening & Trading
On Trade Date (T)
Order & Trade
Account
Deal & Trade Account
New Depository
Notice obligation
on net basis
(Batch)
Record 8Pending Obligation to be settled;
By Depository Segregated Account
By Settlement Date
Depository Segregated Account
Account Opening
Client Level
Client-Account Level
New
Clearing Deal registration
On real-time basis
Calculate obligation both at
Segregated level & Omnibus level
API Message to instruct account opening
New Member Back Office Account Opening
Client Level
Client-Account Level
Notify Trade
Account
Member Front Office
10
Trade registration and amendment
T-T+3
Order & Trade
Account
Deal & Trade Account
New
New Depository
Clearing
Update obligation
due to amendment
Update 8Pending Obligation to be settled;
Deal registration on real-time basis
By Depository Segregated Account
Deal amendment
Trade amendment
By Settlement Date
• Account no.
• Investor type
• NVDR Adjustment
Depository Segregated Account
• Allotment
Account Opening
Re -Calculate Obligation in
Client Level
Client-Account Level
Segregated level & Omnibus level
Day : T-T+3 API Message to instruct amendment
New Member Back Office Deal Amendment
Trade Amendment
Amended by Front office
(Day T)
(Optional)
Member Front Office
11
Pre-Settlement Simulation and Settlement
T-T+3
New Depository Send matched
Transaction
Clearing-to-Custodian : Match transaction with Counterparty
PSMS
Custodian
Broker
New Clearing
Re -Calculate Obligation in
Segregated level & Omnibus level
Pre-Settlement Matching System (PSMS)
Member
Sweep securities
up to Clearing Acct
Clearing
Port
Deposit Acct
Port
Clearing
Client
Deposit Acct
ก
Simulation (@ every interval time)
Instruction
securities settlement
Sweep securities
down to Deposit Acct
Deposit Acct
=
Member inquiry settlement Status in PTI
API Message to instruct Pre-Settlement transaction
New Member Back Office Clearing to Custodian
(Pre-Settlement
Instruction)
Domestic -AMC
Foreign Investor Trades
12
Depository function
New Depository
Execute & Update Account Balance
due to member>s depository instruction
Member
Deposit Acct
ก
Deposit
Deposit Acct
=
Withdraw
Deposit Acct
-1
Deposit Acct
-2
Transfer
API Message to instruct depository transaction
New Member Back Office Depository Function
(i.e. Deposit Withdraw Transfer)
13
Corporate action
New Depository Registrar
Auto Sweep
Entitlement List
(Scripless) to registrar
Corporate
Actions
Deposit Acct
ก
Member
Deposit Acct
=
Deposit Acct
-1
Deposit Acct
-2
Deposit Acct
Institution A
Deposit Acct
Port
New Member Back Office Update account balance and maintain investor record
to be entitled on record date
14
Market Consultation and Communication
Milestones
Schedule
(tentative)
CEO/ COO>s Meeting Group
Kick-Off session
29 January
2014
• Kick-off the project and communication with
market participants
Monthly
• Communicate project progress & timeline
• Communicate changes & information related
to systems
Monthly
• Communicate project progress & timeline
• Consult & hearing business practices or
issues
TSD & TCH Members
Monthly
• Communicate project progress & timeline
• Rules and Regulations
Settlement Banks & Bank of Thailand
Quarterly
• Communicate project progress & timeline
CIO & ISV
BOO & Custodian Club
15
Main Activities
q
rqs00t*
*q
Issue
Contact person
Tel
E-mail
Clearing
• Kanyarat Sriaroon
• Kitipat Chantarasrivongs
02-229-2929
02-220-2669
SETNewClearing@set.or.th
Depository
• Pornpreeya Vatthanasuk
• Wimol Plubplasri
02-229-2938-46
Depositoryprojectteam@set.or.th
PSMS
• Yukolthorn Sakdadsathaporn 02-229-2882,2886
• Nawarat Panichpiboon
02-229-2939
Depositoryprojectteam@set.or.th
Member
back-office
• Suwannee Tantirojanawong
• Rachatasorn Khaosam-Ang
memberbackoffice@set.or.th
02-229-2288
02-229-2808
16
Thank you
17
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