Securities Worksession
|
|
- Herbert York
- 8 years ago
- Views:
Transcription
1 Securities Worksession WAMZ Business Forum Ian Bessarabia WAMZ Regional Country Manager August 2011
2 Our choice for today Accord SWIFT services for Securities Markets Funds Standards Asset Servicing Services for CSD's
3
4 Africa: Ripe for reappraisal "With many of its 48 economies rebounding from the crisis faster than the rest of the world, sub-saharan Africa is increasingly viewed as an opportunity rather than a burden. It is rising rapidly up the agenda for global investment managers and is talked about as never before in almost every big financial centre". Financial Times 18 May 2011
5 Africa accounts for about 5% of global foreign direct investment flows. The mood and meetings are all about what is causing blockages for further investment Where are the best models in the world for getting customs to work, how do we improve our competitiveness? Maria Ramos, chief executive of ABSA Financial Times 18 May 2011
6 Create an environment where: Investor comfort is increased Investor risk is reduced Your market meets International Standards 6
7 Needs Meet G30 requirements (and shortly CPSS/IOSCO requirements) A market which meets the standards that foreign investors expect Infrastructure which is better suited to regional integration Risk reduction Cost reductions with automation 7
8 Business Flows and Market Participants from an Investment Managers perspective
9 Asset Class SWIFT Equities, FI Forex is Money Markets only Listed derivatives for OTC derivatives payments? Commodities Repos Syndicated Loans Cash Transaction cycle Trading (FIX Trade Capture Trading (FIX Pre-trade / trade and FIN) New! and FIN) Post-trade / presettlement Trade confirms Trade notification Trade confirms Trade notification, Affirmation Trade confirms Trade notification, Affirmation Trade confirms Trade notification Trade confirms Trade notification (FIN+FpML), Affirmation Trade confirms Trade confirms Pre-settlement matching Allocation processing as well as confirmation matching, SSI New! Clearing & Settlement Settlement & Reconciliation Settlement & Reconciliation CLS 3rd Party service Settlement & Reconciliation Settlement & Reconciliation (FIN+FpML) Settlement & Reconciliation Settlement & Reconciliation Agent notices, Credit agreement, Rollover (FpML) Payments Cash management Cash reporting Cash settlement Cash reporting Cash settlement Cash reporting Cash reporting Cash reporting Cash reporting Cash reporting Exception Management Asset servicing & Administration Portfolio Administration Collateral management Data distribution Data distribution Corp. Action Corp. Action (Corp. Action) Proxy voting Total Portfolio Valuation (TPV) New! Collateral Management Collateral Management New! Portfolio Reconciliation New! Agent notices (FpML - EOC CUG, DTCC) Securities Financing Securities Financing New! Securities Financing New! Regulatory Reporting Transaction Reporting Transaction Reporting Transaction Reporting Transaction Reporting Planned solutions Available Solution
10 Asset Class Transaction cycle Equities, FI Forex Money Markets Listed derivatives OTC derivatives Commodities Repos Syndicated Loans Cash Pre-trade / trade Trading (FIX and FIN) Trade Capture New! Trading (FIX and FIN) Post-trade / presettlement Trade confirms Trade notification Trade confirms Trade notification, Affirmation Trade confirms Trade notification, Affirmation Trade confirms Trade notification Trade confirms Trade notification (FIN+FpML), Affirmation Trade confirms Trade confirms Pre-settlement matching Allocation processing as well as confirmation matching, SSI New! Clearing & Settlement Settlement & Reconciliation Settlement & Reconciliation CLS 3rd Party service Settlement & Reconciliation Settlement & Reconciliation (FIN+FpML) Settlement & Reconciliation Settlement & Reconciliation Agent notices, Credit agreement, Rollover (FpML) Payments Cash management Cash reporting Cash settlement Cash reporting Cash settlement Cash reporting Cash reporting Cash reporting Cash reporting Cash reporting Exception Management Asset servicing & Administration Portfolio Administration Collateral management Data distribution Data distribution Corp. Action Corp. Action (Corp. Action) Proxy voting Total Portfolio Valuation (TPV) New! Collateral Management Collateral Management New! Portfolio Reconciliation New! Agent notices (FpML - EOC CUG, DTCC) Securities Financing Securities Financing New! Securities Financing New! Regulatory Reporting Transaction Reporting Transaction Reporting Transaction Reporting Transaction Reporting Planned solutions Available Solution
11 Messaging Standards for the Securities Markets
12 Standards Do you care?
13 No standards or many standards Cost Errors Risk Poor service Unhappy customers
14 SWIFT standards SWIFT sets standards to create a common language for international financial transactions To Improve automation Reduce risk Reduce errors Generate cost savings SWIFT message standards are recognised by the International Organisation for Standardisation (ISO) SWIFT works with the financial community to coordinate standards convergence worldwide and avoid unnecessary duplication
15 Increase market practice
16 Why does it matter - Market practice consistency and compliance improves data quality and STP Market practice, integrated with standards, is essential for STP Securities Market Practice Group (SMPG) 39 Countries participating with national market practice groups Provides guidance to improve message quality Market Practice documents Event Interpretation Grid (EIG) Guidelines for placement and usage of dates, periods, prices and rates Event message examples Unique Event Reference approach More at::
17
18 Securities Market Infrastructures
19 SWIFT Reach: > 9300 financial institutions Pension providers Banks Custodians Investment Managers Brokers-dealers Fund Administrators / Registries SWIFT Securities Market Infrastructures Insurance Companies ETC Providers Corporates Payment Market Infrastructures Fund Supermarkets
20 What are SMIs for SWIFT? Securities Market Infrastructures (SMI) Institutions, providing utility services to their participants in the securities markets facilitating the efficient processing of securities transactions. They include: Stock exchanges Matching Utilities Clearing Houses / Central Counterparties Central Securities Depositories Regulators / Financial Authorities Registrars
21 Securities Market Infrastructures on SWIFT >80 institutions from 50 countries Argentina Caja de Valores Hungary Keler Russian National Clearing Centre Armenia Central Depository of Armenia Indonesia KSEI Federation Depository Clearing Company Australia Australian Securities Exchange Ireland Euroclear UK&Ireland The National Depository Center Austraclear Israel Tel Aviv Stock Exchange Singapore The Central Depository (pte) Ltd Austria OeKB Italy MTS Monetary Authority of Singapore Belgium Euroclear Belgium CCG Slovakia CDCP Euroclear Bank Monte Titoli Bank of Slovakia MTS Japan Jasdec Slovenia KDD National Bank of Belgium Bank of Japan South Africa JSE Ltd Brazil CBLC Kazakhstan Kazakhstan Stock Exchange Strate Bulgaria CDAD Central Securities Depository Spain MTS Bulgaria National Bank of Bulgaria Kenya Central Bank of Kenya MEFF Canada CDS Korea Korea Securities Depository Iberclear Chile Deposito Centrale de Valores S.A. Kuwait Kuwait Clearing Company Sri Lanka Central Bank of Sri Lanka Croatia SKDD Latvia NASDAQ OMX (LankaSecure) Czech CSD Prague Central Depository Sweden NASDAQ OMX Republic Bank of Latvia Euroclear Sweden Denmark NASDAQ OMX Lebanon Midclear Central Depository Switzerland SIX x-clear VP Lithuania NASDAQ OMX SIX SIS Estonia NASDAQ OMX Luxemburg Clearstream Banking SA Taiwan TDCC Estonian Securities Depository LuxCSD Thailand Thailand Securities Dep Co Ltd Egypt MCSD MISR Mexico SD Indeval Turkey Takas Bank Finland NASDAQ OMX Netherlands MTS United ICE Futures europe Euroclear Finland EMCF Kingdom London Stock Exchange France Euronext Paris Euroclear Nederland EuroCCP MTS LCH.Clearnet LCH.Clearnet New Zealand NZX Ltd Euroclear UK&Ireland Euroclear France NZClear USA Chicago Mercantile Exchange Germany MTS Norway VPS Option Clearing Corporation Eurex Clearing Poland KDPW OMGEO Clearstream Banking AG Portugal Interbolsa DTCC Greece Hellenic Exchange SA Banco de Portugal Federal Reserve Bank Bank of Greece Qatar Doha Securities Market Zimbabwe Reserve Bank of Zimbabwe Hong Kong WAMZ HK Exchange Business Forum and Clearing -August 2011 Romania Depozitarul Central HK Monetary Authority (CMU)
22 CSD business conducted over SWIFT Core functionality: Instructions Status reporting Confirmations Statements Corporate Actions Link with NCB Borrowing/Lending Non-core functionality General payments CSD-CSD links Funds processing
23 Single Window using SWIFT Same Standards, Messaging and Connectivity SMI Participant Securities Market Infrastructures
24 Citi s Global Footprint for SWIFT Connectivity North America USA Canada Mexico South America Argentina Bahamas Brazil Chile Dominican Rep. Guatemala Colombia Costa Rica Ecuador El Salvador Haiti Honduras Jamaica Panama Paraguay Peru Puerto Rico Trinidad & Tobago Uruguay Venezuela Europe Austria Belgium Bulgaria Channel Islands Czech Republic Denmark Finland France Germany Greece Hungary Ireland Italy Kazakhstan Luxembourg Netherlands Norway Poland Portugal Romania Russia Spain Sweden Turkey Ukraine United Kingdom Slovakia 24 Middle East and Africa Bahrain Cameroon Algeria Congo Egypt Gabon Israel Ivory coast Jordan Kenya Kuwait Lebanon Morocco Nigeria Pakistan Senegal South Africa Tanzania Tunisia UAE Uganda Zambia Asia Pacific Australia Japan Malaysia New Zealand Singapore South Korea Thailand China Hong Kong Indonesia India Philippines Taiwan Vietnam Sri Lanka Bangladesh Brunei
25 Securities market: equities and fixed income Pre-trade / Trade Post-trade Corporate actions Buyer Presettlement Presettlement Reconciliation Proxy voting Seller Corporate actions Reconciliation Settlement Settlement Custodian Reconciliation CSD Reconciliation Clearing agent
26 SWIFTNet FIN: Settlement & Reconciliation Process CSD Trade Date Settlement Date MT Settlement Instruction MT 548 Status of Instruction MT 537 Pending Transactions CSD participant MT Confirmation of Settlement MT 535 Statement of Holdings MT 536 Statement of Transactions
27 CSD business using every SWIFT channel Application-to-Application One by one messaging (store & forward and query & response) File Transfer (push or pull) Human-to-Application Browser-based access and manual FT & message GUIs
28 Typical usage by Securities Market Infrastructures of SWIFTNet Messaging services FIN FileAct InterAct Browse Instructions Confirmations Status Statements CA reporting CA confirms Collateral Mgmt ISO only Putting new or legacy file transfer on SWIFTNet Proprietary formats, ISO or ISO Putting new or legacy messaging on SWIFTNet Proprietary formats, ISO or ISO Putting new or legacy screenbased access on SWIFTNET
29 Asset Example Servicing of a divider slide
30 Asset Servicing cycle Issuer XBRL Aligned w/iso Agent Investment or Fund Manager CSD ISO CA MX (DTCC) Proxy Voting MX ISO Global Custodian Sub-Custodian
31 What can go wrong with a corporate action? No Notification from counterpart Host System not Updated Positions not protected Pre-Decision Processing Missed Deadlines Trading shares not available Post-Decision Processing (Pre) Notification Record Date Record Date Instruction Deadline Registration Stock Available Research Ex Date Decision Deadline Acceptance Unconditional Pari Passu No Diary Entry Incorrect Information Positions Disagree Position Taken Late Decision Processing Incorrect decision applied Host system(s) not updated/updated incorrectly Trading shares not owned Courtesy Checkfree & Celent
32 Funds
33 What flows can you automate on SWIFT? End investors Platforms & fund supermarkets Portfolio managers Price report Institutional investors Distributor Transfer Agent Fund accounting agent (I)CSD (when applicable) Cash agents Distributor-side Payments Cash agents Fund -side Order placement (core fund business) Settlement Order placement & settlement, reconciliation, price report, transfer, account opening, cash forecast, corporate actions & fund-related payments
34 Accord
35 Accord: a SaaS family Same infrastructure different service structure Treasury (=Cat 3, 600) Securities (MT 515) Accord family Flow model Messages exchanged between the parties, are copied to Accord. Both parties submit messages directly to Accord. Choice Reporting /integration Individual: each party takes own decision as to how matching is done (Manually, on Accord, or on local application) Exclusively Real-Time, in pull mode GUI for operators InterAct based API, for integration Collective: both parties must be Accord users, to obtain a match. Real time towards GUI FIN-based reports at 15 minutes intervals for integration in back-office applications (push mode)
36 SWIFT Alliance Integrator
37 Choices for integrating SWIFT into the business application environment Do-It-Yourself Approach: change and maintain your application Tools: Alliance Access Adapters and Interfaces: MQSA/MQHA AFT SOAP CASmf Generic integration Approach: install an enterprise application integration (EAI) package Tools: Adapters Transformation tools Orchestration tools Labeled integration Approach: install a Financial EAI labeled package (all have EAI) Tools: B2B features Adapters Transformation tools Orchestration tools Access/Gateway Connectivity SWIFT Alliance Integrator Approach: license Alliance Integrator Tools: Adapters Transformation tools Orchestration tools Access Connectivity SWIFT Support SWIFT Expertise 37
38 SWIFT Integration - Four Areas to address Starting to work with SWIFT or a new SWIFTSolution affects existing business processes. It changes the behaviour of applications AND people SWIFT s MT and XML message formats and usage rules are largely paper based (SWIFT User Handbook and Rules book) Data Formats (Standards) Business Processes SWIFTNet Messaging interface End To End Message flows Technical Adapters Business Applications Requires deep SWIFT expertise Linking heterogeneous systems and reliably managing critical data is a very technical activity
39 What does it do? Interfaces to business applications Interface to Alliance Access Event notifications (SNMP, ) Transformations Validations Standards support Bespoke processing SWIFTSolution collaborations Reconciliation Monitoring
40 Benefits Faster Time to Market Minimise the impact on business applications Reduce risk Reduce maintenance cost Improves your business case for SWIFT Services
41 Professional Services
42 SWIFT Professional Services Who we are Cross-divisional teams of SWIFT professionals that have: Expertise in business or technical analysis of your operational flows, vendor applications, technology and infrastructure Comprehensive understanding of message standards, and end to end processing Access to a large Knowledge Base and competitive benchmarking data Project or Service Management experience Extensive knowledge of financial markets, SWIFT infrastructure and/or latest technological developments
43 SWIFT Professional Services Portfolio of services covering your needs Technical and Business Consulting Implementation and Integration Services SWIFT Support and Training The experts are chosen from various teams as appropriate
44 SWIFT Training
45 Training solutions for everyone Classroom courses On-site training SWIFT etraining SWIFT Web class General knowledge Payments Securities Trade Treasury Connectivity
46 Security 47
47 Reliability 48
48 Standards 49
49
50 Thank you Ian Bessarabia SWIFT Unit 18 2nd Floor 1 Melrose Boulevard South Africa T D F E W ian.bessarabia@swift.com 51
SWIFT for Inter CSD Communications. AECSD and IAEX Yerevan, Armenia, 6 th October 2011
SWIFT for Inter CSD Communications John Falk AECSD and IAEX Yerevan, Armenia, 6 th October 2011 Securities Market Infrastructures on SWIFT 100 institutions from 58 countries Argentina Caja de Valores Hungary
More informationSibos report back. Khaled Moharem SWIFT. 16 th AMEDA meeting Kuwait November 27th
Sibos report back Khaled Moharem SWIFT 16 th AMEDA meeting Kuwait November 27th Who came to Sibos 2012? Largest Sibos held in Asia Pacific region 150+ exhibiting organisations 160 journalists covering
More informationT2S and SWIFT Where do we stand?
T2S and SWIFT Where do we stand? Oreste Di Francesco T2S Info Session, Stockholm December 21, 2011 Agenda SWIFT and Securities Market Infrastructures T2S SWIFT Involvement so far SWIFT solution for T2S
More informationAppendix 1: Full Country Rankings
Appendix 1: Full Country Rankings Below please find the complete rankings of all 75 markets considered in the analysis. Rankings are broken into overall rankings and subsector rankings. Overall Renewable
More informationConsolidated International Banking Statistics in Japan
Total (Transfer Consolidated cross-border claims in all currencies and local claims in non-local currencies Up to and including one year Maturities Over one year up to two years Over two years Public Sector
More informationCisco Global Cloud Index Supplement: Cloud Readiness Regional Details
White Paper Cisco Global Cloud Index Supplement: Cloud Readiness Regional Details What You Will Learn The Cisco Global Cloud Index is an ongoing effort to forecast the growth of global data center and
More informationKnow the Facts. Aon Hewitt Country Profiles can help: Support a decision to establish or not establish operations in a specific country.
Aon Hewitt Country Profiles Your eguide to employment requirements and practices Profiles for nearly 90 countries worldwide Risk. Reinsurance. Human Resources. Know the Facts Whether you are a newcomer
More informationRaveh Ravid & Co. CPA. November 2015
Raveh Ravid & Co. CPA November 2015 About Us Established in 1986 by Abir Raveh, CPA & Itzhak Ravid, CPA 6 Partners, 80 employees Located in Tel Aviv, Israel wide range of professional services highly experienced
More informationWorld Consumer Income and Expenditure Patterns
World Consumer Income and Expenditure Patterns 2014 14th edi tion Euromonitor International Ltd. 60-61 Britton Street, EC1M 5UX TableTypeID: 30010; ITtableID: 22914 Income Algeria Income Algeria Income
More informationFDI performance and potential rankings. Astrit Sulstarova Division on Investment and Enterprise UNCTAD
FDI performance and potential rankings Astrit Sulstarova Division on Investment and Enterprise UNCTAD FDI perfomance index The Inward FDI Performance Index ranks countries by the FDI they receive relative
More informationSenate Committee: Education and Employment. QUESTION ON NOTICE Budget Estimates 2015-2016
Senate Committee: Education and Employment QUESTION ON NOTICE Budget Estimates 2015-2016 Outcome: Higher Education Research and International Department of Education and Training Question No. SQ15-000549
More informationNORTHERN TRUST GLOBAL TRADE CUT OFF DEADLINES
Argentina T+3 Only Govt Tsy Bills (Letes) have a settlement cycle of T+1, other fixed income securities have a T+3 settlement cycle. T+0 OTC Market (MAE) SD 1200 9amSD-2 9am SD T+3 T+0 SD 1500 9am SD 9am
More informationDigital TV Research. http://www.marketresearch.com/digital-tv- Research-v3873/ Publisher Sample
Digital TV Research http://www.marketresearch.com/digital-tv- Research-v3873/ Publisher Sample Phone: 800.298.5699 (US) or +1.240.747.3093 or +1.240.747.3093 (Int'l) Hours: Monday - Thursday: 5:30am -
More informationTriple-play subscriptions to rocket to 400 mil.
Triple-play criptions to rocket to 400 mil. Global triple-play criptions will reach 400 million by 2017; up by nearly 300 million on the end-2011 total and up by 380 million on the 2007 total, according
More informationBangladesh Visa fees for foreign nationals
Bangladesh Visa fees for foreign nationals No. All fees in US $ 1. Afghanistan 5.00 5.00 10.00 2. Albania 2.00 2.00 3.00 3. Algeria 1.00 1.00 2.00 4. Angola 11.00 11.00 22.00 5. Argentina 21.00 21.00 42.00
More informationDial 00-800-0010, when prompted to enter calling number, enter 800-544-6666 American Samoa 1-800-544-6666 Number can be dialed directly Angola 0199
National Financial Services International Calling Instructions Albania 00-800-0010 Dial 00-800-0010, when prompted to enter American Samoa 1-800-544-6666 Number can be dialed directly Angola 0199 Dial
More informationRegion Country AT&T Direct Access Code(s) HelpLine Number. Telstra: 1 800 881 011 Optus: 1 800 551 155
Mondelēz International HelpLine Numbers March 22, 2013 There are many ways to report a concern or suspected misconduct, including discussing it with your supervisor, your supervisor s supervisor, another
More informationFall 2015 International Student Enrollment
Fall 2015 International Student Enrollment Prepared by The Office of International Affairs Nova Southeastern University Nova Southeastern University International Student Statistics Fall 2015 International
More informationContact Centers Worldwide
A Contact Centers Worldwide Country Tel.no. Supported lang. Contact Center Albania Algeria 852 665 00 +46 10 71 66160 Angola 89900 +34 91 339 2121 (Port) and Portuguese +34 913394044 +34 913394023 (Por)
More informationMineral Industry Surveys
4 Mineral Industry Surveys For information contact: Robert L. Virta, Asbestos Commodity Specialist U.S. Geological Survey 989 National Center Reston, VA 20192 Telephone: 703-648-7726, Fax: (703) 648-7757
More informationEMEA BENEFITS BENCHMARKING OFFERING
EMEA BENEFITS BENCHMARKING OFFERING COVERED COUNTRIES SWEDEN FINLAND NORWAY ESTONIA R U S S I A DENMARK LITHUANIA LATVIA IRELAND PORTUGAL U. K. NETHERLANDS POLAND BELARUS GERMANY BELGIUM CZECH REP. UKRAINE
More informationGlobal Dialing Comment. Telephone Type. AT&T Direct Number. Access Type. Dial-In Number. Country. Albania Toll-Free 00-800-0010 888-426-6840
Below is a list of Global Access Numbers, in order by country. If a Country has an AT&T Direct Number, the audio conference requires two-stage dialing. First, dial the AT&T Direct Number. Second, dial
More informationThe World Market for Medical, Surgical, or Laboratory Sterilizers: A 2013 Global Trade Perspective
Brochure More information from http://www.researchandmarkets.com/reports/2389480/ The World Market for Medical, Surgical, or Laboratory Sterilizers: A 2013 Global Trade Perspective Description: This report
More informationDSV Air & Sea, Inc. Aerospace Sector. DSV Air & Sea, Inc. Aerospace
DSV Air & Sea, Inc. Aerospace Sector DSV Air & Sea, Inc. Aerospace Introduction to DSV DSV is a global supplier of transport and logistics services. We have offices in more than 70 countries and an international
More informationGLOBAL. 2014 Country Well-Being Rankings. D Social (% thriving) E Financial (% thriving) F Community (% thriving) G Physical (% thriving)
0 0 GLOBAL 0 Country Rankings 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 : >0.0% 0.% 0.0% 0.% 0.0% 0.% 0.0% 0.0% A Country s global rank B in three or more elements of well-being C (% thriving) D (% thriving) E
More informationGlobal Network Access International Access Rates
Global Network Access International Access Rates We know that you need to communicate with your partners, colleagues and customers around the world. We make every effort to understand the difficulties
More informationIntroducing Clinical Trials Insurance Services Ltd
Introducing Clinical Trials Insurance Services Ltd Important Staff Richard Kelly Managing Director Richard joined CTIS in 2006 having previously managed the Pharmaceutical wholesale division at Heath Lambert
More informationThe big pay turnaround: Eurozone recovering, emerging markets falter in 2015
The big pay turnaround: Eurozone recovering, emerging markets falter in 2015 Global salary rises up compared to last year But workers in key emerging markets will experience real wage cuts Increase in
More informationIntroducing GlobalStar Travel Management
Introducing GlobalStar Travel Management GlobalStar is a worldwide travel management company owned and managed by local entrepreneurs. In total over 80 market leading enterprises, representing over US$13
More informationGlobal AML Resource Map Over 2000 AML professionals
www.pwc.co.uk Global AML Resource Map Over 2000 AML professionals January 2016 Global AML Resources: Europe France Italy Jersey / Guernsey 8 Ireland 1 Portugal 7 Luxembourg 5 United Kingdom 1 50 11 Spain
More informationSunGard Best Practice Guide
SunGard Best Practice Guide What Number Should I Use? www.intercalleurope.com Information Hotline 0871 7000 170 +44 (0)1452 546742 conferencing@intercalleurope.com Reservations 0870 043 4167 +44 (0)1452
More informationCulture in the Cockpit Collision or Cooperation?
Culture in the Cockpit Collision or Cooperation? Dr. Nicklas Dahlstrom Human Factors Manager Understanding Safety - The Changing Nature of Safety 1 Lives lost per year How safe is flying? 100 000 10 000
More informationLogix5000 Clock Update Tool V2.00.36. 12/13/2005 Copyright 2005 Rockwell Automation Inc., All Rights Reserved. 1
Logix5000 Clock Update Tool V2.00.36. 1 Overview Logix5000 Clock Update Tool 1. 1. What is is it? it? 2. 2. How will it it help me? 3. 3. How do do I I use it? it? 4. 4. When can I I get get it? it? 2
More informationORBITAX ESSENTIAL INTERNATIONAL TAX SOLUTIONS
REUTERS/Jo Yong-Hak ORBITAX ESSENTIAL INTERNATIONAL TAX SOLUTIONS ALIGN AND STREAMLINE YOUR TAX PLANNING WORKFLOW FOR CROSS-BORDER TRANSACTIONS ACROSS MULTINATIONAL ENTITIES ALIGN YOUR GLOBAL TAX UNIVERSE
More informationInternational Financial Reporting Standards
International Financial Reporting Standards Of Growing Importance for U.S. Companies Assurance Services there is no longer a choice Three factors may influence your need to consider IFRS. First, many organizations
More informationA Resolution Concerning International Standards on Auditing
A Resolution Concerning International Standards on Auditing Passed by the Presidents' Committee October 1992 1. The members of IOSCO believe it is important to identify ways to facilitate crossborder offerings
More informationComposition of Premium in Life and Non-life Insurance Segments
2012 2nd International Conference on Computer and Software Modeling (ICCSM 2012) IPCSIT vol. 54 (2012) (2012) IACSIT Press, Singapore DOI: 10.7763/IPCSIT.2012.V54.16 Composition of Premium in Life and
More informationMAUVE GROUP GLOBAL EMPLOYMENT SOLUTIONS PORTFOLIO
MAUVE GROUP GLOBAL SOLUTIONS PORTFOLIO At Mauve Group, we offer a variety of complete employee management services such as Global Employment Solutions (GES), Professional Employment Outsourcing (PEO),
More informationEnterprise Mobility Suite (EMS) Overview
Enterprise Mobility Suite (EMS) Overview Industry trends driving IT pressures Devices Apps Big data Cloud 52% of information workers across 17 countries report using 3+ devices for work Enable my employees
More informationExcerpt Sudan Fixed Telecommunications: Low Penetration Rates Get a Boost from Broadband Internet and VoIP Services
Excerpt Sudan Fixed Telecommunications: Low Penetration Rates Get a Boost from Broadband Internet and VoIP Services This report is part of Pyramid Research s series of Africa & Middle East Country Intelligence
More informationForeign Taxes Paid and Foreign Source Income INTECH Global Income Managed Volatility Fund
Income INTECH Global Income Managed Volatility Fund Australia 0.0066 0.0375 Austria 0.0045 0.0014 Belgium 0.0461 0.0138 Bermuda 0.0000 0.0059 Canada 0.0919 0.0275 Cayman Islands 0.0000 0.0044 China 0.0000
More informationBest Integrated Consumer Bank Site HSBC Best Information Security Initiatives HSBC Best Online Deposits Acquisition Wells Fargo
2009 World s Best Internet Banks in North America NEW YORK, July 21, 2009 Global Finance has announced the First Round winners in the World s Best Internet Banks competition in North America. This is the
More informationBusiness Phone. Product solutions. Key features
Product solutions Enjoy free calls and significant savings on your business landline bills with from International. Set-up is simple and you don t need to change your existing telephone numbers, plus there
More informationsteam & condensate management solutions STAPS Wireless steam trap monitoring
steam & condensate management solutions STAPS Wireless steam trap monitoring S T A P S W i r e l e s s STAPS Total acoustic performance solutions The STAPS wireless steam trap monitor from Spirax Sarco
More informationCMMI for SCAMPI SM Class A Appraisal Results 2011 End-Year Update
CMMI for SCAMPI SM Class A 2011 End-Year Update Software Engineering Institute Carnegie Mellon University Pittsburgh, PA 15213 1 Outline Introduction Current Status Community Trends Organizational Trends
More informationSupported Payment Methods
Supported Payment Methods Global In the global payments market, credit cards are the most popular payment method. However, BlueSnap expands the payment selection by including not only the major credit
More informationSulfuric Acid 2013 World Market Outlook and Forecast up to 2017
Brochure More information from http://www.researchandmarkets.com/reports/2547547/ Sulfuric Acid 2013 World Market Outlook and Forecast up to 2017 Description: Sulfuric Acid 2013 World Market Outlook and
More informationSchedule of Accreditation issued by United Kingdom Accreditation Service 21-47 High Street, Feltham, Middlesex, TW13 4UN, UK
Schedule of United Kingdom Service 21-47 High Street, Feltham, Middlesex, TW13 4UN, UK ISO/IEC 17021:2011 to provide environmental management systems certification Kitemark Court Davy Avenue Knowlhill
More informationGlobal Education Office University of New Mexico MSC06 3850, Mesa Vista Hall, Rm. 2120 Tel. 505 277 4032, Fax 505 277 1867, geo@unm.
Global Education Office University of New Mexico MSC06 3850, Mesa Vista Hall, Rm. 220 Tel. 505 277 4032, Fax 505 277 867, geo@unm.edu Report on International Students, Scholars and Study Abroad Programs
More informationSupported Payment Methods
Sell Globally in a Snap Supported Payment Methods Global In the global payments market, credit cards are the most popular payment method. However, BlueSnap expands the payment selection by including not
More informationISO is the world s largest developer of voluntary international
The ISO Survey 2005 ISO and The ISO Survey ISO is the world s largest developer of voluntary international standards for business, government and society. Its portfolio at the beginning of June 2006 comprised
More informationYTD 2015-27 CS AWARDS IN AMERICAS
YTD 2015-27 CS AWARDS IN AMERICAS Argentina Bolivia Brazil Frontline Customer Service Team of the Year, All Industries (Bronze) Customer Service Department of the Year, Airlines, Distribution & Transportation
More informationNon-Resident Withholding Tax Rates for Treaty Countries 1
Non-Resident Withholding Tax Rates for Treaty Countries 1 firms Non-Resident Withholding Tax Rates for Treaty Countries 1 Country 2 Interest 3 Dividends 4 Royalties 5 Annuities 6 Pensions/ Algeria 15%
More informationThe face of consistent global performance
Building safety & security global simplified accounts The face of consistent global performance Delivering enterprise-wide safety and security solutions. With more than 500 offices worldwide Johnson Controls
More information41 T Korea, Rep. 52.3. 42 T Netherlands 51.4. 43 T Japan 51.1. 44 E Bulgaria 51.1. 45 T Argentina 50.8. 46 T Czech Republic 50.4. 47 T Greece 50.
Overall Results Climate Change Performance Index 2012 Table 1 Rank Country Score** Partial Score Tendency Trend Level Policy 1* Rank Country Score** Partial Score Tendency Trend Level Policy 21 - Egypt***
More informationReporting practices for domestic and total debt securities
Last updated: 4 September 2015 Reporting practices for domestic and total debt securities While the BIS debt securities statistics are in principle harmonised with the recommendations in the Handbook on
More informationBrandeis University. International Student & Scholar Statistics
1 Brandeis University International Student & Scholar Statistics 2014 2 TABLE OF CONTENTS OVERVIEW OF INTERNATIONAL STUDENT & SCHOLAR POPULATION 3 DETAILED INFORMATION ON INTERNATIONAL STUDENT POPULATION
More informationEasy Navigation Opening a Cash Account with Citi Global Transaction Services
Easy Navigation Opening a Cash Account with Citi Global Transaction Services Table of contents Introduction... 1 Opening a Cross-Border Cash Account with Citi... 3 Anti-Money Laundering Requirements...
More informationHow To Get A New Phone System For Your Business
Cisco Phone Systems Telemarketing Script Cold Call 1. Locate Contact: Name listed Owner General Manager / Office Manager Chief BDM (Business Decision Maker) Note: Avoid talking to IT since this is not
More informationDuchenneConnect. www.duchenneconnect.org
DuchenneConnect www.duchenneconnect.org 1 What is DuchenneConnect? Web based patient self report registry to link the resources and needs of the Duchenne/Becker muscular dystrophy community, including:
More informationFaster voice/data integration for global mergers and acquisitions
Global agility in technology solutions. sm Faster voice/data integration for global mergers and acquisitions >The InTech Group, Inc. Worldwide in-country technical resources for newly merged companies
More information89% 96% 94% 100% 54% Williams 93% financial aid at Williams. completion statistics $44,753 76% class of 2013 average four-year debt: $12,749
financial aid at Average - $, financial aid is comprehensive, covering books, health insurance, study abroad costs, travel, and personal expenses % % % % cost met by average % of with demonstrated need
More informationINTERNATIONAL AIR SERVICES TRANSIT AGREEMENT SIGNED AT CHICAGO ON 7 DECEMBER 1944
State INTERNATIONAL AIR SERVICES TRANSIT AGREEMENT SIGNED AT CHICAGO ON 7 DECEMBER 1944 Entry into force: The Agreement entered into force on 30 January 1945. Status: 130 Parties. This list is based on
More informationInternational Student Population A Statistical Report by The International Office
International Student Population A Statistical Report by The International Office CURRENT STUDENTS: 2,362 F-1 OPT & STEM OPT STUDENTS: 313 F-2/J-2 DEPENDENTS: 303 TOTAL: 2,978 Basic Information: There
More informationList of tables. I. World Trade Developments
List of tables I. World Trade Developments 1. Overview Table I.1 Growth in the volume of world merchandise exports and production, 2010-2014 39 Table I.2 Growth in the volume of world merchandise trade
More informationTRANSFERS FROM AN OVERSEAS PENSION SCHEME
PENSIONS PROFILE DECEMBER 2011 TRANSFERS FROM AN OVERSEAS PENSION SCHEME = Summary A simplified guide to the process: 1. Individual requests transfer from their overseas pension scheme to their UK registered
More informationAudio Conferencing Service Comprehensive Telecommunications Services Group Number 77017 Award Number 20268 Contract Number PS63110
Audio Conferencing Comprehensive Telecommunications s Number PS63110 Audio Conferencing, Function or Device Reservationless Conferencing Solution Setup Meeting Center Multimedia Minute - Self-, Automated
More informationShell Global Helpline - Telephone Numbers
Shell Global Helpline - Telephone Numbers The Shell Global Helpline allows reports to be submitted by either a web-based form at https://shell.alertline.eu or by utilising one of a number of telephone
More informationCarnegie Mellon University Office of International Education Admissions Statistics for Summer and Fall 2013
Carnegie Mellon University Admissions Statistics for and Fall 2013 New International Students and Fall 2012 Undergraduate 270 14.3% Master's 1301 68.7% Doctorate 192 10.1% Exchange 99 5.2% 31 1.6% Total
More informationHow To Contact A Lugmarine
Sales contacts by country A - B Angola +33 1 41 35 32 64 rm.lubmarine-order@total.com Australia Brazil TOTAL LUBRICANTS USA, INC. 5 North Stiles Street LINDEN NJ +507 6619 86 09 (Commercial issues) Argentina
More informationPAY MONTHLY ADDITIONAL SERVICES TERMS AND CONDITIONS
4GEE PHONE PLANS ADDITIONAL SERVICES (ALL STANDARD 12 & 24 MONTH PLANS INCLUDING SIM ONLY PLANS) The following add-ons are available on your plan. We reserve the right to change the add-ons available to
More informationData Modeling & Bureau Scoring Experian for CreditChex
Data Modeling & Bureau Scoring Experian for CreditChex Karachi Nov. 29 th 2007 Experian Decision Analytics Credit Services Help clients with data and services to make business critical decisions in credit
More informationADVOC. the international network of independent law firms
ADVOC the international network of independent law firms About ADVOC ADVOC is an international network of independent law firms, sharing international expertise in jurisdictions across the globe Our member
More informationHow To Calculate The Lorenz Curve
FACT SHEET 1. Overview 1.1 Developed by an Italian statistician Corrado in the 1910s, is commonly used to indicate income inequality in a society. is a number which has a value between zero and one. As
More informationGE Grid Solutions. Providing solutions that keep the world energized Press Conference Call Presentation November 12, 2015. Imagination at work.
GE Grid Solutions Providing solutions that keep the world energized Press Conference Call Presentation November 12, 2015 Press Conference Call Recording: Toll Free: +1 (855) 859-2056 Toll: +1 (404) 537-3406
More informationE-Seminar. Financial Management Internet Business Solution Seminar
E-Seminar Financial Management Internet Business Solution Seminar Financial Management Internet Business Solution Seminar 3 Welcome 4 Objectives 5 Financial Management 6 Financial Management Defined 7
More informationCarnegie Mellon University Office of International Education Admissions Statistics for Summer and Fall 2015
Carnegie Mellon University Admissions Statistics for and Fall 2015 New International Students and Fall 2015 Undergraduate 344 15.2% Master's 1599 70.6% Doctorate 167 7.4% Exchange 73 3.2% 81 3.6% Total
More informationTechnical & Trade School Lines World Report
Brochure More information from http://www.researchandmarkets.com/reports/1836899/ Technical & Trade School Lines World Report Description: TECHNICAL & TRADE SCHOOL LINES WORLD REPORT The Technical & Trade
More informationREUTERS/Jo Yong-Hak ESSENTIAL INTERNATIONAL TAX SOLUTIONS POWERED BY ORBITAX
REUTERS/Jo Yong-Hak ESSENTIAL INTERNATIONAL TAX SOLUTIONS POWERED BY ORBITAX A CENTRAL INTERNATIONAL TAX DASHBOARD FOR YOUR GLOBAL ENTERPRISE Now for the first time, you can access all the international
More informationBuilding on +60 GW of experience. Track record as of 31 December 2013
Building on +60 GW of experience Track record as of 31 December 2013 Can data and analysis make a difference on turbine performance? Proven technology. For Vestas, it is more than a saying it is something
More informationInternational Call Services
International Call Services Affordable rates for business calls. Wherever you are in the world. We ve got plenty to say when it comes to staying in touch when you re overseas. We have agreements with 443
More informationNinth United Nations Survey of Crime Trends and Operations of Criminal Justice Systems POLICE
Indicators as defined by the (- ) POLICE 2. Crimes recorded in criminal (police) statistics, by type of crime including attempts to commit crimes 2.2 Total recorded intentional homicide, completed (c)
More informationVerdict Financial: Wealth Management. Data Collection and Forecasting Methodologies
Verdict Financial: Wealth Management Data Collection and Forecasting Methodologies April 2014 Contents Global Wealth Markets Methodology Methodology Methodology 2 Global Wealth Markets Section 1: Global
More informationTHE ADVANTAGES OF A UK INTERNATIONAL HOLDING COMPANY
THE ADVANTAGES OF A UK INTERNATIONAL HOLDING COMPANY Ideal Characteristics for the Location of an International Holding Company Laurence Binge +44 (0)1372 471117 laurence.binge@woolford.co.uk www.woolford.co.uk
More informationGlobal Effective Tax Rates
www.pwc.com/us/nes Global s Global s April 14, 2011 This document has been prepared pursuant to an engagement between PwC and its Client. As to all other parties, it is for general information purposes
More informationU.S. Trade Overview, 2013
U.S. Trade Overview, 213 Stephanie Han & Natalie Soroka Trade and Economic Analysis Industry and Analysis Department of Commerce International Trade Administration October 214 Trade: A Vital Part of the
More informationOverview menu: ArminLabs - DHL Medical Express Online-Pickup: Access to the Online System
Access to the Online System Overview menu: Create shipment: Preselected - Here you can order your shipment including the Pickup 0049 821 78093150 ArminLabs DHL Medical Express Online-Pickup-Manual DHL
More informationClinical Trials. Local Trial Requirements
Clinical Trials Clinical trials insurance covers the legal liabilities of the insured in respect of clinical trials for bodily injury arising from the trial. The coverage provided by Newline is on the
More information2015 Global Feed Survey
2015 Global Feed Survey 2015 ALLTECH GLOBAL FEED EXECUTIVE SUMMARY 2015 marks the fourth consecutive year that Alltech has conducted this global feed survey. This undertaking has required a significant
More informationChapter 4A: World Opinion on Terrorism
1 Pew Global Attitudes Project, Spring 2007 Now I m going to read you a list of things that may be problems in our country. As I read each one, please tell me if you think it is a very big problem, a moderately
More informationI. World trade developments
I. World trade developments The value of world merchandise exports increased by 20 per cent in 2011 while exports of commercial services grew by 11 per cent. Key developments in 2011: a snapshot Trade
More informationSybase Solutions for Healthcare Adapting to an Evolving Business and Regulatory Environment
Sybase Solutions for Healthcare Adapting to an Evolving Business and Regulatory Environment OVERVIEW Sybase Solutions for Healthcare Adapting to an Evolving Business and Regulatory Environment Rising medical
More informationHEALTHIEST COUNTRIES 1 to 40
BLOOMBERG RANKINGS THE WORLD'S HEALTHIEST COUNTRIES HEALTHIEST COUNTRIES 1 to 40 1 Singapore 89.45% 92.52% 3.07% 2 Italy 89.07 94.61 5.54 3 Australia 88.33 93.19 4.86 4 Switzerland 88.29 93.47 5.17 5 Japan
More informationCarnegie Mellon University Office of International Education Admissions Statistics for Summer and Fall 2010
Carnegie Mellon University Admissions Statistics for and Fall 2010 New International Students and Fall 2010 Undergraduate 208 16.1% Master's 799 61.7% Doctorate 177 13.7% Exchange 80 6.2% 31 2.4% Total
More informationPostal rates. As of January 2015
Postal rates As of January 2015 Sending mail within the Netherlands or to another country? Whatever it is you wish to send, you can count on our services. This leaflet will provide you with the postal
More informationDirectory & Mailing List Publisher Lines World Report
Brochure More information from http://www.researchandmarkets.com/reports/1836438/ Directory & Mailing List Publisher Lines World Report Description: DIRECTORY & MAILING LIST PUBLISHER LINES WORLD REPORT
More informationProforma Cost for international UN Volunteers for UN Partner Agencies for 2016. International UN Volunteers (12 months)
Proforma Cost for international UN Volunteers for UN Partner Agencies for 2016 Country Of Assignment International UN Volunteers (12 months) International UN Youth Volunteers (12 months) University Volunteers
More informationAn introduction to the World Federation of Occupational Therapists (WFOT)
An introduction to the World Federation of Occupational Therapists (WFOT) WHAT IS THE WORLD FEDERATION OF OCCUPATIONAL THERAPISTS? The key international representative for occupational therapists and occupational
More informationOutsource International Ltd
Providing global technology solutions for: Carriers Systems Integrators Resellers Outsource Manufacturers International Ltd Government agencies Financial sector Global Technology Solutions Providing global
More informationDeutsche Bank Global Transaction Banking. Securities Services. Overview
Deutsche Bank Global Transaction Banking Direct Securities Services Securities Services Overview Finding the right custodian with a long-term commitment to supporting its clients business is critical for
More information