Seminar «Working with SWIFT» for RUE RCSD

9-10 October 2019, National Settlement Depository (NSD) on behalf of the secretariat of the Association of Eurasian Central Securities Depositories (AECSD) carried out a training seminar for the representatives of the Republican Unitary Enterprise "Republican Central Securities Depository” (RUE “RCSD”) of the Republic of Belarus.

Early this year, RCSD joined SWIFT, an international system enabling interactions among internal and external counterparties of the depository. The seminar was aimed at training the RCSD specialists to work with the SWIFT system. NSD shared its experiences in the sphere of working with the global financial system, its rules and standards, as well as information on the practical use of the system in CSD operations.

On the first day of the seminar, NSD presented SWIFT key services (FIN, Interact, FilAct), described in detail the Customer Protection Programme (CSP) and interactions with clients and foreign depositories via SWIFT. Special attention was payed to technical details: connection channels settings, interactions between the depository’s internal system and SWIFT terminals, and rules for generating different types of messages.

On the second day of the seminar, participants focused on the corporate actions involving foreign securities and settlements with upstream depositories using SWIFT technologies, as well as providing complementary services for foreign financial instruments related to operations in different jurisdictions.

NSD and RCSD plan to start using SWIFT channels for bilateral interactions for conducting settlements and processing corporate actions using correspondent accounts.