Volante Technologies SIMPLIFYING MESSAGING CONNECTIVITY SWIFT User Group Meeting Poland Mark Chapman and Chris Stares March 2013
Agenda Introduction Volante Business Overview Product positioning and case studies Volante Product Overview What the product does Product Demonstration Q&A
What is our purpose? Challenges of Standards Landscape Domain Front Middle Back Capital Markets FIX, FpML, SWIFT FIN MT5nn, ISO 20022, MDDL FIX, FpML, SWIFT FIN MT5nn, ISO 20022, MDDL Euroclear, Omgeo OASYSGlobal and CTM, TRAX, AVOX, CREST FIX, FpML, SWIFT FIN MT5nn, ISO 20022, MDDL Euroclear, Omgeo OASYSGlobal and CTM, TRAX, Avox, CREST OTC Derivatives FpML, DTCC, MarkitWire FpML, DTCC, MarkitWire FpML, DTCC, MarkitWire Payments SWIFT FIN MT1nn, ISO 20022 PAIN, SEPA, STEP2, EDIFACT, X.12, Domestic legacy ACH ISO 20022, MTn92 SWIFT FIN MT1nn, 2nn, 4nn, 9nn, ISO 20022 PACS, SEPA, STEP2, EDIFACT, X.12, Domestic legacy ACH Insurance ACORD, Origo ACORD, Origo ACORD, Origo Investment Funds ISO 20022, 15022 ISO 20022, 15022 ISO 20022, 15022 Treasury SWIFT FIN MT3nn, ISO 20022, FIX, FpML SWIFT FIN MT3nn, ISO 20022, FIX, FpML SWIFT FIN MT3nn, ISO 20022, FIX, FpML Exchanges FIX, FAST, Proprietary API N/A N/A
About Volante Founded in 2001 Headquartered in New York Offices in London, New Jersey, Dubai, Mexico City and Chennai Data Integration Accelerator that: Transforms the ease of integrating heterogeneous data sources and standards Financial Formats (SWIFT, ISO 20022, FIX,, FpML, ACH, EDI, MT/MX, etc.) Structured and Unstructured Proprietary Formats Document Style Formats (PDF, Excel, Word, etc.) Provides exceptional performance with low latency Rapid ROI and low TCO with easy maintenance Runs on any platform, home grown or standards based Intuitive design environment for definition of: Parsing, Routing, Validation, Enrichment & Transformation Code generation Browser based input, repair and dashboards Our clients are tier one organizations Investment Banks, Brokers, Investment Managers, Exchanges, Clearing Houses, Hedge funds, Corporates, Systems Integrators, Utilities and Application Vendors
What We Do Payments Example Volante Design Time defines: Routing Validation Transformation Enrichment Testing Java, C++, C# XML Via ESB ERP System CSV Via FTP Treasury System Fixed Width Via MQ Payments System Tag=Value DB Table AML/KYC System Volante plug-ins for Any Format Via any Transport Volante Dashboard for Monitoring & Repair (using Webforms Designer) Volante Run Time Code (App Server, JVM, ESB, SaaS, Cloud) Volante plug-ins for Industry Standards Persistence & Enrichment SWIFT MT101 SEPA ISO 20022 ACH Formats ISO 8583 EDIFACT X.12/BAI RDBMS or CACHE
What We Do Capital Markets Example Volante Design Time defines: Routing Validation Transformation Enrichment Testing Java, C++, C# XML Via ESB Trading System(s) Conf/Affirm System(s) CSV Via FTP Fixed Width Via MQ Settlement System(s) Reconciliation System Tag=Value DB Table Volante plug-ins for Any Format Via any Transport Volante Dashboard for Monitoring & Repair (using Webforms Designer) Volante Run Time Code (App Server, JVM, ESB, SaaS, Cloud) Volante plug-ins for Industry Standards Persistence & Enrichment (Ref Data) SWIFT ISO15022 ISO20022 FIX FpML Omgeo DTCC MarkitWire Reuters Bloomberg RDBMS or CACHE
Case Study : large corporation Bulk Payments Solution Architecture VOLANTE Outbound Flow Payments (Bulked XML) XML Outbound Routing MT101 MT103 MT10x Swift Alliance Access (real-time) Payment Application MT104 Paymul MT10x Payments (Bulked XML) ACH Flow Paymul ACH FileAct (Bulk Payments) Application Server High Level Outbound Flow
CASE STUDY : Global bank Global Payment Transaction System PARTNERS CUSTOMERS Corporates Governments MQ File, FileAct FTP etc Message Transport Accounting System MQ RISK- Management System FX- Trading System MQ File, FileAct FTP etc Message Transport COUNTRY-1 Benfificiaries Corporates Govts Pensioners COUNTRY-2 Benfificiaries Corporates Govts Pensioners Volante Solution Enabler WebLogic Application Server COUNTRY-n Benfificiaries Corporates Govts Pensioners DISBURSMENT INSTRUCTIONS Payment/Remittance 150 countries proprietary, SWIFT, SEPA, etc
Immediate Transfer EXPRESS ELIXIR SYSTEM REAL TIME PAYMENTS SYSTEM Bank A National Bank of Poland Bank B Bank A Account Credit/Debit System Settlement Account Credit/Debit Bank B Account Credit/Debit Immediate Transfer ISO 20022 SORBNET/SORBNET2 Interfaces CSV Core System
Proprietary Fixed-Width Data to SWIFT MT103 to MX PACS 008 Process Flow
Product Overview Data Formats SWIFT ISO 7775 ISO 15022 ISO 20022 MT-MX translations Payments SEPA, ACH, EDI, BAI2, ISO 8583 Market Data Bloomberg Reuters CurreneX FAST(OPRA,CME, FIX) Trade Processing FIX & CMS Reference Data Bloomberg backoffice Reuters DataScope S&P Derivatives FpML (supports ISDA, SWIFT-CUG, DTCC) Generic Proprietary Data Fixed-Width ASCII Delimited XML Data COBOL Copybook Batch Processing COBOL Copybook, XML Volante Designer Design Time Plug-Ins Format Generic Domain Specific Persistence Designer WebForms Designer Generators Code Java/EJB C++ C# Run Time Any ESB Or CEP Engine Composer Cartridge (Metadata Model) Transformation Normalization Formatting Validation Message Flow Document Publisher Any Application Or Web Server Director Data Governance Simulator Message Definition xml csv Any Application Or Middleware Testing Application Debugging Data Generation DB Any Database
High Level Proprietary Fixed-Width to SWIFT MT103 Flow Example Scenario: A customer s internal payments application outputs payment messages in a proprietary data format (e.g. fixed-width data described by a COBOL copybook, as shown below): PTSAIN10-103-NVR-0006 0000 000000USD091120 000000000015000SPXAIN N RECEIVERS CORRESPONDENT NEW YORK BRANCH RECEIVERS CORRESPONDENTNEW YORK BRA BENEFICIARY CUSTOMER NAME BENEFICIARY CUSTOMER NAME /REC/INSTRUCTION FOR RECEIVER 00015000USD SHAUSD Data to be sent to the SWIFT network via SWIFT Alliance Access gateway must be in valid SWIFT format A solution is required to parse (read and validate the structure of) the proprietary payment message data, transform it into valid SWIFT format and apply the SWIFT-specified cross-field validation rules to ensure that the message is correct before sending on the SWIFT network. A simple Volante message flow solution for this scenario will be used to illustrate Volante s parsing, transformation and validation capabilities. Volante fixed-width data (COBOL copybook) to MT103 message flow
Parse activity for fixed-width proprietary payments data
Mapping activity to transform fixed-width proprietary payments data to SWIFT MT103
Validate activity to ensure that the resulting SWIFT MT103 cross-field validation rules are applied Cross-field validation rules are defined and applied exactly as per the published SWIFT message specifications 100% compliant. SWIFT uses Volante internally within its standards group for validation of message formats and generation of test data tank files.
Serialize activity to generate the final, valid SWIFT MT103 message data {1:F01PTSAINB0AXXX0000000000}{2:I103SPXAINB0AXXXN}{4: :20:10-103-NVR-0006 :23B:CRED :23E:CHQB :32A:130320USD15000, :33B:USD15000, :50K:RECEIVERS CORRESPONDENT :59:BENEFICIARY CUSTOMER NAME :71A:SHA -}
Demonstration: Proprietary Fixed-Width Message Data to SWIFT MT103 Message Flow
Volante MT to MX/MX to MT Translation Kit Volante has created a MT/MX Translation Kit which is a modular set of components mirroring the SWIFT specifications in every aspect. The modular components can be invoked individually as independent logic libraries or as part of an integrated solution for MT to MX/MX to MT parsing, validation and transformation The Volante MT to MX/MX to MT Translation Kit is comprised of the following components: Function Library (follows the SWIFT ISO 20022 specifications in every aspect) The functions are generic which can be: Can be invoked as part of the mapping Can be invoked and tested independent of the mappings Mirrors the SWIFT specifications, e.g.: tg_rule_descriptions_credit_trans_cash_mgt.pdf tr_rule_descriptions_investment_funds.pdf Complete set of mappings Follows SWIFT Guidelines Implements all functional aspects like copy, transform, stop and ignore, pre-condition, etc. Out-of-the-box can be used immediately Can be customized using Volante Designer to meet the customer s specific processing requirements SWIFT Certified (up to and including the last SWIFT certification 2011. Technically still certified since the standard has not been updated since 2009) Reference Framework to integrate with client environment Message detection, routing, error handling, envelope handling, etc. Integration Wrapper (Java API) The Translation Kit can be licensed by partners and customers
Demonstration: Volante MT to MX/MX to MT Translation Kit
Thank You: Contact: Mark @ volantetech.com Mark Chapman Sales Director, EMEA Volanté Technologies Inc. 9 Devonshire Square London, EC2M 4YF +44(0) 779 503 1851 +44(0) 203 178 2970 www.volantetech.com Business Information Agility